Property 7010366

This Property is Off-Market

Multifamily Land Golf front

124 Aubrey Drive Butler PA 16001  |  Butler County, PA
  • $17,500,000
  • 100 acres

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Listing Status: Off Market
Listing Type: Sale
Property Type(s):
Irrigated: No
Residence: No
Property ID: 7010366

Property Description

Highlights of the project;

. Surrounds Aubrey`s Dubbs Dred Golf Course..... an 18 hole Championship Golf Course (rated by Golf Digest Best Places To Play in North America and the Islands - 4 years)
. Original 3 phases complete...single family on 3/4 acre lots.
. All underground utilities i.e. Public Sanitation, Water, Gas, Electric, Cable.
. Approx. 100 acres for development.
. Recently re-zoned R-2 ( 8 units per acre ) However, the recently completed Master Plan (attached) is not as dense as R-2 approval allows.
. No Debt on the golf course or development land.
. Many types of inventory are incorporated in the Development i.e. Duplex, Townhouse, Patio Home (with and without basements) Single Family, Gated Community. Price range from $275,000.00 to $1M +
. Newly completed Veterans Hospital across N.Duffy Rd. from the property on the East.
. The acreage (in excess of 300 acres) around the Hospital is being designed for Professional Services to compliment the Hospital. A new and expanded road system fronting the property has been approved by the Twp. and will begin construction next year.
. Marketing Study showed the best use of the remaining land was for maintenance free duplexes, patio homes, and quads. Should sell 50 first year and tapering to 35 a year. However, the study was done before there were plans for the Hospital. Recently, the Hospital and (2) new hotels were built within walking distance of the property.
. Oil and Gas rights go with the land. The land is in the center of the Marcellus/ Utica/ Devonian Oil and Gas Shale Play. There are (2) wells being drilled currently on 80 acres and will be in production in the Spring 2018. There are (3) shale formations in the middle of the highest gas reserves in the USA under this land approx. 230 acres.

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