181 Acre Residential Assemblage (Birmingham MSA)

Investment Highlights

• ±181 acres of residential land within Carrington Lakes master-planned community (Birmingham MSA)
• Permitted for single-family residential with 20,000 SF minimum lot size
• Located in an affluent section of Birmingham MSA with average HH income over $94,000 and home values averaging $230,000
• Less than 30 minutes from Downtown Birmingham | Easy access to I-59 (±6-miles) with ±61,000 VPD
• Resort-like amenities within gated community include stocked lakes, junior Olympic size pool, clubhouse, fitness center, beach volleyball court, tennis courts, basketball court, walking trails, gazebo and more

 

Offering Details

CBRE and Ingram and Associates, in partnership with RealINSIGHT Marketplace, are pleased to present Carrington Lakes (“Property”), ±181 acres of residential land in Trussville, AL (Birmingham MSA). The Property offers an exceptional investment opportunity to develop a well-located asset zoned for low-density, single-family residential within a growing market and first bid meets reserve!

The Property sits within the Carrington Lakes master-planned community. Amenities within this community include a clubhouse with a junior size Olympic pool, tennis courts, playground, multiple stocked fishing lakes, boat launches, and more. The assemblage is currently zoned Residential-1 (R-1) to provide areas suitable for single-family residences on estate size lots up to 2 units per acre (20,000 SF minimum lot size). Home values in the zip code of 35173 have gone up 10% over the past 12 months and Zillow predicts they will rise 6.9% in the next year.

Trussville is a city in Jefferson and St. Clair counties in Alabama within the Birmingham MSA. Trussville is one of the fastest growing areas around Birmingham with a population growth of 500% in the last 30 years. Birmingham is the largest city in Alabama and is considered the economic center of the state. Some of Alabama’s largest employers are in the area, including the University of Alabama at Birmingham (UAB), Regions Financial Corp. and St. Vincent’s Health System. Automotive manufacturing is a dominant sector in the region with four automakers within an 80-mile radius of downtown Birmingham.  From 2010-2020, the area around the property experienced 11% population growth within a five-mile radius and double-digit growth is expected to continue for the next five years. In 2020, the Property had approximately 31,321 individuals residing within a five-mile radius with an average household income of ±$94,429.