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418R Madison Road is a highly desirable development site available in Durham on Madison Road (Route 79). The property is a 73.64+/- acre site just south of the center of Durham and an easy drive to Madison's Town Center. The site has previous approvals for 46 detached condominium units of age restricted housing. New approvals would be necessary for completion of the development. Extensive architectural and engineering design work has been drafted. The site has some of the nicest vistas in the area and would be suitable for residential development. The entire site is available for $1,100,000. The property is located within the south-central portion of Durham and fronts along the easterly side of Madison Road (Route 79). The land area is comprised of two parcels that combine to offer 73.64 acres. The land offers an irregular configuration. The topography is varied throughout and, contains scattered, designated inland-wetlands. A pond is located on the larger of the two parcels along with a conservation easement that forms the northerly border. This area accounts for 6 acres. The parcel falls within the FEMA Zone X - areas outside the 500 year flood plain. There is a dilapidated 2800 square foot structure located on the property.
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