$599,000

Exceptional opportunity to acquire a cash-flowing asset in one of Raleigh's most desirable and rapidly evolving urban neighborhoods. Located at 700 Glascock Street, this income-producing property sits on a highly visible corner lot comprising approximately 0.22 acres and offers investors immediate returns alongside compelling long-term redevelopment potential. The property is… Read More zoned R-10 and positioned within one of Raleigh's most active redevelopment corridors. Surrounded by luxury new construction and high-end infill development, the site is ideally situated to benefit from continued neighborhood growth and increasing land values. Currently operating as an 8-room income-producing property generating approximately $62,700 in annual gross income ($5,225/month), the asset benefits from strong rental demand and flexible month-to-month occupancy agreements. The property has been well maintained and improved, with major updates already completed, including a new roof in 2023; HVAC systems installed in 2019; furnaces replaced in 2018 and 2019; a hot water heater installed in 2019; updated bathrooms and kitchen cabinetry in 2023; new windows installed in 2024 and 2025; new gutters in 2025; and fresh interior and exterior paint completed in 2025. Public water and sewer service, along with approximately 10 off-street parking spaces, further enhance the property's functionality and appeal. Beyond the property's income potential, the location offers the highly desirable lifestyle amenities driving demand throughout Downtown Raleigh's urban core. Residents are close to a growing collection of restaurants, retail destinations, and neighborhood gathering spots while enjoying convenient access to Oakwood Park, Gateway Plaza, area schools, greenway trails, and public transit. A nearby dog park and numerous recreational amenities further enhance the area's appeal. The combination of connectivity, and the city's sought-after live, work, play lifestyle makes this location particularly attractive to both tenants and long-term investors. Whether pursuing stable cash flow, a value-add investment strategy, land banking, or future redevelopment, 700 Glascock Street offers multiple paths to value creation in one of Raleigh's strongest growth markets. Opportunities combining current income, corner-lot positioning, and proximity to Downtown Raleigh are increasingly difficult to find. Read Less

Courtesy of Compass -- Cary, Lizzie Bender, 919-769-1956.

Listing Snapshot

Days Online

Last Updated

Sep 22, 2026

Property Type

Single Family Residence

Beds

Full Baths

Square Ft.

1,777

Lot Size

0.22 Acres

Year Built

1950

MLS Number

10180777

Additional Details

Property Access

Road Surface Type: Paved

Appliances & Equipment

Appliances: Electric Range, Refrigerator, Washer/Dryer

Basement

Basement: Unfinished

Building

Building Area Total: 1777, Building Area Units: Square Feet, Construction Materials: Unknown, Living Area Units: Square Feet, Living Area: 1777, Structure Type: House, Site Built, Year Built: 1950

Cooling

Cooling: Central Air, Cooling Included

Floors

Flooring: Vinyl, Tile, Wood

Heating

Heating: Heat Pump, Heating Included

Laundry

Features: Common Area

Lot

Lot Size Acres: 0.22, Lot Size Area: 9583.2, Lot Size Square Feet: 9583.2, Lot Size Units: Square Feet, Parcel Number: 171413230654000 0042639

Parking

Parking Features: Other, Open Parking

Property

Property Sub Type: Single Family Residence, Zoning: R-10

Roof

Roof: Shingle

Sewer

Sewer: Public Sewer

Taxes

Tax Annual Amount: 4258.6

Utilities

Water Source: Public

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