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Jason Walters

jason@waltersteam.com +1(252) 360-1130

Listed by Performance Property Partners LLC

$ 6,000,000

Est. payment | -/mo

8.3 Acres Lot

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$ 6,000,000

Est. payment | -/mo

Save Virtual Tour

8.3 Acres Lot

Key Details

Property Type Vacant Land

Sub Type Unimproved Land

Listing Status Pending

Purchase Type For Sale

Subdivision Not In A Subdivision

MLS Listing ID 10151560

HOA Y/N No

Annual Tax Amount $18,301

Lot Size 8.300 Acres

Acres 8.3

Lot Dimensions 444.12' x 339.25 x 820.26' x 110.30' x 119.37'

Property Sub-Type Unimproved Land

Source Doorify MLS

Property Description

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 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.

Location

State NC

County Wake

Community Not In A Subdivision

Area 8.3

Zoning R-10

Interior

Equipment None

Fireplace No

Exterior

Community Features None

Utilities Available Electricity Available, Sewer Available, Water Available

Garage No

Building

Lot Description Cleared, Wooded

Water Public, None

New Construction No

Schools

Elementary Schools Wake - Yates Mill Elementary

Middle Schools Wake - Dillard Drive Middle

High Schools Wake - Athens Drive High

Others

Senior Community No

Tax ID 0792663596

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://www.wellcomemat.com/video/5eaq462bc4151mhda/2521/2521/

NEARBY SCHOOLS & PROPERTIES

+1(252) 360-1130

jason@waltersteam.com

526 E Nash Street, Hope, NC 27882, United States

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2521 Lake Wheeler RD Raleigh, NC 27603