1901 I 587, Greenville, NC 27834 · $115,000

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About this home

Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First Refusal to purchase the billboard site if the Lessor elects to sell the property. The Lessee also has the right to purchase a perpetual easement for the billboard site for 6 times the annual rent or $12,000 if the Lessor opts to sell the property. The Lessee also has the right to terminate the lease at lease at any time by providing written notice. Nevertheless, the lease is expected to be renewed for the foreseeable future. The value of this lease is calculated by discounting the income stream to present value. A 6% discount rate is used in this analysis since this rate appears to be appropriate in the current market. The present value factor for an ordinary level annuity at a 6% discount rate for a 14-year term is 9.294984. Thus, the present value of the $2,000 annual income stream is $18,589.97. The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago. It will be the buyer's responsibility to obtain a survey for title insurance.

Facts

Type: Residential Lot
Lot: 38 acres
County: Pitt
Water: None
Listed: May 22, 2026
MLS #: 100576174

Directions to 1901 I 587

For the north side, you would take a dight on Evans St, left on Dickinson Ave, right on Spring Forest Rd, left on Silas Ln, Land is behind the cellphone tower. For the south side you would take a right on Evans St, left on Dickinson Ave, right on Spring Forest Rd, Continue on Mozingo road turn left onto I587 W the land will be on the right side.

Schools

Elementary: Falkland Elementary School
Middle: Farmville Middle School
High: Farmville Central High School

As listed in the MLS (Pitt County Schools). School assignments can change — confirm with the district for this address.

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About 1901 I 587

1901 I 587 is a lot, on 38 acres, Greenville, Pitt County, NC 27834.

It has been on the market for 157 days.

Area figures are broad context from the MLS, not a valuation — they don't adjust for condition, lot, views or updates. Ask us for a true comparison.

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Questions about 1901 I 587

How much is 1901 I 587?

1901 I 587 is listed at $115,000 as of October 26, 2026. Status: for sale.

How long has 1901 I 587 been on the market?

157 days.

Who is the listing broker for 1901 I 587?

Berkshire Hathaway HomeServices Prime Properties (MLS #100576174). The Buddy Blake Team can show it to you and answer questions.

Can I tour 1901 I 587?

Yes. Tap “Schedule a tour,” pick a time, and we'll call to confirm — or call or text (910) 395-1000.

1901 I 587 Greenville, NC 27834