Forsyth County Land Sales Report Janurary 2024

Sale Date: January 3, 2024

Address: 2574 Bagwell Drive

Parcel Number: 106 080, 107 005 and 107 006

Acres: 18.93

Price: $6,000,000

Price Per Acre:  $316,957

Price Per Unit/Lot/Foot: N/A

Seller: Madison Capital Group (www.madisoncapgroup.com)

Buyer: Godley Group of Atlanta –

Suspected Use: Godley Group is involved in a variety of business ventures with their primary business appearing to be “Frankie’s Fun Parks”. (https://frankies.com) These are amusement centers (bowling, go-karts, arcade etc.) of which they have 5 throughout North and South Carolina. I suspect they plan to open a Cumming location.

Sale Date: January 17, 2024

Address: Bald Ridge Marina Road

Parcel Number: 195 110

Acres: 23

Price: $5,815,040

Price Per Acre:  $252,827

Price Per Unit/Lot/Foot:

Seller: Emory Lipscomb

Buyer: John Otwell - https://www.andeanchevy.com

Suspected Use: “We have not received any rezoning applications on this property, since it was annexed into the City in 2010.” - Scott H. Morgan, Director City of Cumming Department of Planning & Zoning

Considering that the Otwell family is in the car dealership business, I suspect the plan is to put a car dealership here. However, the site is zoned MU (Multiple-use), and according to City of Cumming “Automobile financing, sales and/or service establishments” is NOT a permitted use in the MU district.

It is worth noting that effective July 3, 2018, no new applications will be accepted for rezoning land to the MU zoning district. All existing MU zoned land shall remain zoned MU until changed by amendment to the zoning map in conformity with all legal

Sale Date: January 5, 2024

Address: 5225 Bottoms Road

Parcel Number: 235 218 and 235 036

Acres: 66.21

Price: $7,500,000

Price Per Acre:  $113,275

Price Per Unit/Lot/Foot: $

Seller: Hughes Commercial Real Estate – www.hughes-cre.com

Buyer: Rooker – www.rookerco.com

Suspected Use: Industrial development, site is zoned “M1” Restricted Industrial District. Site plan below is from the 2022 re-zoning of the property.

Sale Date: Janurary 16, 2024

Address: 1175 Mullinax Road

Parcel Number: 041535, 041203, 041075, 062016, 041535, 062 014, 062015, 062002

Acres: 140

Price: $14,524,814

Price Per Acre:  $103,203

Price Per Unit/Lot/Foot: $72,989 per lot

Seller: Kennemore Nursey

Buyer: Northpoint Capital – Tom Sharp

Suspected Use: Single-family residential (131.8 ac) and commercial (8.65 ac).  Original site plan was for a total of 284 single-family detached and 120 townhomes, the final zoning resolution allows for no more than 199 residential dwellings on the portion zoned Res3.

Sale Date: January 31, 2024

Address: 422 Pirkle Ferry

Parcel Number: C26 040

Acres: 0.83

Price: $300,000

Price Per Acre:  $361,445

Price Per Unit/Lot/Foot: N/A

Seller: Ian Ordway

Buyer: United Lines, LLC - Ruslan Chitadze – Co-Owner Worthing Transportation

Suspected Use: Site is zoned OP – Office Professional, which is intended to encourage and provide suitable areas for professional, medical, and general offices and certain related activities. OP districts apply primarily to office parks and areas planned and developed for office uses. In some cases, the OP district serves as a transition between one or more commercial zoning districts and one or more residential zoning districts. No recent re-zonings have been filed according to the City of Cumming.

Sale Date: January 10, 2024

Address: 6340 Sandy Court

Parcel Number: 250 013

Acres: 2.09

Price: $272,500

Price Per Acre:  $136,250

Price Per Unit/Lot/Foot: N/A

Seller: Broadway Realty, Inc – John D. Lie-Nielsen and Rob Rayne

Buyer: R.D. Links Investments, LLC – David Hopson and Roone Unger

Suspected Use: 14,850 sqft warehouse/office/contractors’ establishment.

For more on this, see our post on Forsyth County Land Sales Report February 2024.

We cover this in more detail in Forsyth County Land Sales Report March 2024.

For background, see our piece on what each residential zoning code actually means.

You can read more in our post on how selling to a developer actually works.