Prime multifamily development opportunity in one of Raleigh's most active growth corridors. 8.30 acres with 437.5± LF of road frontage on Lake Wheeler Road, zoned R-10 with an Apartment land use designation. By-right density supports approximately 83 units; rezoning potential to 150-200 units for qualified developers. City of Raleigh gravity… Read More sewer confirmed at property boundary. No wetlands, no hydric soils -- Cecil sandy loam dominant, well-drained and highly buildable throughout. Two existing structures (c. 1927) on-site; demolition required. Situated in the rapidly developing Lake Wheeler Road/Dorothea Dix Park corridor with $21.8M in City-funded road improvements underway, The Weld (675-unit luxury high-rise) under construction nearby, and Allora Pines (224-unit Class A community, 2024) immediately adjacent. Approximately 4 miles to Downtown Raleigh, 4 miles to NC State University, and 20 minutes to Research Triangle Park. Offering Memorandum available upon request. Do not disturb occupants. Read Less
Courtesy of Performance Property Partners LLC, Ken Stancil, 919-625-1676.
Listing Snapshot
Days Online
15
Last Updated
Property Type
Unimproved Land
Lot Size
8.3 Acres
MLS Number
10151560
30 Days Snapshot Of 27603
$1.10M
+292%
(avg) sold price
1
-75%
home sold
112
-3%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Frontage Type: "State Road", Road Surface Type: "Asphalt", "Paved"
Building
Building Area Units: Square Feet, Living Area Units: Square Feet
Community
Community Features: None
Fence
Fencing: "None"
Home Owner's Association
Association Amenities: "None"
Lot
Lot Features: "Cleared", "Wooded", Lot Size Acres: 8.3, Lot Size Area: 8.3, Lot Size Dimensions: 444.12' x 339.25 x 820.26' x 110.30' x 119.37', Lot Size Square Feet: 361548, Lot Size Units: Acres, Parcel Number: 0792663596
Property
Current Use: "Single Family", Property Sub Type: Unimproved Land, View: "None", Zoning: R-10
Information Not Guaranteed. Copyright 2024 Triangle MLS, Inc. of North Carolina. All rights reserved. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database.
Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Listings last updated on , .
Confirm your time
Fill in your details and we will contact you to confirm a time.
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.