The lot beside the Mount Olive Chamber of Commerce has been vacant for years, and is currently up for sale for $16,000.
It is owned by the town. But a low bid for the land has been submitted.
The 10 percent down payment has already been given to town officials and the proposed sell was set to go before the town board of commissioners Monday.
Town Manager Charles Brown said the submitted bid has to stay open for 10 days in the event of an upset bid.
“I am still not at liberty to discuss who the bidder is at this time or what the plans are for the lot,” Brown said.
However, he did add what the developer plans will be “an exciting venture for the downtown area.”
“We have had an offer on that lot. By law, we have to advertise it for 10 days to allow anyone to submit an upset bid,” he said. “We are hoping this will work out, because there are some interesting plans for that lot.”
But Brown is staying mum on the bidder’s identity and the bidder’s plans.
“I can tell you if it comes to fruition it will be extremely exciting,” he said. “Not only exciting, but something that is so far ahead of anything going on right now in Eastern North Carolina and perhaps in the entire state.”