Pelham Estate Lot
We are pleased to offer a rare and stunning 9.31 acre Estate Lot draped in a beautiful setting amongst a location that is second to none. The owners currently operate Indian Lake Stables on the premises where horses are boarded and trained. The NE part of the property is level with a circular fenced riding ring about an acre in circumference. Behind the riding ring sits the horse barn. The exterior is constructed of concrete block and inside the stable there are 24 wooden stalls with concrete floors, a tack room, a saddle room, and a personal office. The remainder of the land is gently rolling open pasture intermixed with hardwood groves offering shade and privacy. A meandering wet weather stream adds to the ambiance.
There is no permanent dwelling to contend with. Your only concern will be to choose which of the several aesthetically pleasing sites to build your home. Only 2.6 acres +...
There is no permanent dwelling to contend with. Your only concern will be to choose which of the several aesthetically pleasing sites to build your home. Only 2.6 acres +/- are in the 100 year flood making this an ideal place for an individual estate lot, mini farm, family compound, or small development. Utilities on site include power, city water, sewer, and septic (for the barn). Natural gas runs along the property line on Indian Lake Ln.
The opportunity to continue boarding horses in the stable is something to be considered. There is a clear demand for boarding from horse enthusiast in the area. Currently, individual stalls are rented out for $500 per month. If all stalls were occupied a prospective owner could gross $12,000 per month or $144,000 per year.
There is a 16 acre lake that abuts the estate lot owned and managed by the Indian Estates Lake Association. The purchaser of the 9.31 acres has access to the lake for fishing and boating (no gas engines allowed.) The property is surrounded by several residential sub-divisions and is contiguous to both the Church of the Highlands and Riverchase Middle School. Grocery stores, banking, and restaurants are only a mile away with easy access to I-65, Riverside PKWY, the Galleria, I-459, and all the amenities in between.
This is a rare offering sure to move quickly. Shown by appointment only.
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