Speaker 1: All right. We have a trick question for you today. Are you ready?
Speaker 2: I’m ready.
Speaker 1: How much is one acre of land in Raleigh worth ?
Speaker 2: One acre of land in Raleigh? I can tell you-
Speaker 1: Price per acre.
Speaker 2: Price per acre, an acre of land in Raleigh. I can tell you within $10,000, no problem if you tell me what road it’s on and I can determine what can be done with. It it’s all over the place. I mean a residential acre of land in Raleigh that you can’t put any other houses on, it’s stuck at one acre. It’s probably worse between 100,000 and 150,000. An acre of land that can be divided into five lots. Now that’s probably worth, let’s see, they’re going to sell at 90 to 100, each five, 33, it’s going to be worth about 200,000, maybe 250. You got an acre of land that we can put 10 town homes on. Now it’s probably worth a little over 300,000. You give me an acre of land that I can put a commercial building on or an apartment building on.
That could be 500, a million, 2 million. Sky’s the limit. It just keeps on going. You know, it all depends on what the property’s limitations are. Road frontage, traffic count, line of site. And what is the maximum capability, capacity of this property? So, yeah, that’s quite a range, 100,000 to a few million, but call me, we’ll figure it out. We’ll figure it out together. It’s all over the place right now. But you ought have some idea if you’re in a high traffic commercial area of what it’s going to be worth versus a residential area. And then we also have to look at access to utilities.
