1246 New Bern Avenue Raleigh, NC 27610
5,998 Sqft Lot
UPDATED:
12/20/2024 02:37 AM
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Subdivision Battery Heights
MLS Listing ID 10067852
HOA Y/N No
Originating Board Triangle MLS
Annual Tax Amount $1,550
Lot Size 5,998 Sqft
Acres 0.1377
Property Description
Prime Urban Corridor: Located on New Bern Avenue, a major thoroughfare offering high visibility and easy access to downtown Raleigh, I-440, and other key transportation routes.
Proximity to Downtown Raleigh: Within walking and biking distance to a hub of business, education, and entertainment, driving tenant and buyer demand.
Rapidly Growing Market: Situated in a neighborhood experiencing strong growth, with increasing property values and new developments in the pipeline.
Development Potential
Zoning Flexibility: Zoning allows for multifamily, mixed-use, or commercial development, catering to a variety of investment strategies (confirm zoning specifics with the city).
Expansive Lot Size: Combined acreage provides ample space for mid-size projects, ideal for developers aiming to capitalize on the growing demand for housing and retail.
High Density Potential: The area's demand for urban housing supports high-density residential projects, ensuring strong rental or resale income opportunities.
Economic Drivers
Population Growth: Raleigh is one of the fastest-growing cities in the U.S., creating consistent demand for housing and commercial spaces.
Employment Hubs Nearby: Close proximity to Raleigh's thriving job market, including universities, healthcare institutions, and corporate offices.
Walkable & Transit-Friendly: Accessible to public transportation and near key amenities like schools, shopping, and healthcare, ensuring appeal to future tenants and buyers.
Investment Security
Emerging Neighborhood: Located in a transitional area that is attracting redevelopment and investment, creating opportunities for significant upside potential.
Appreciation Potential: With Raleigh's booming real estate market, properties in this area are well-positioned for long-term appreciation.
Strong Rental Demand: The nearby downtown area and surrounding neighborhoods drive consistent demand for both residential and commercial rentals.
Value-Add Opportunity
Customizable Development: Investors have the flexibility to design and build according to market demands, whether it's urban apartments, townhomes, retail, or mixed-use spaces.
Scalable Investment: Two adjacent parcels allow for cohesive development, optimizing returns on investment and operational efficiency.
Additional photos coming soon. Conceptual mixed use sketches available upon request.
Location
State NC
County Wake
Direction Headed east out of downtown Raleigh Property located on right side
Exterior
Utilities Available Cable Available, Electricity Available, Sewer Available, Water Available
View Y/N Yes
Street Surface Asphalt
Private Pool No
Building
Faces Headed east out of downtown Raleigh Property located on right side
Sewer Public Sewer
Water Public
Schools
Elementary Schools Wake County Schools
Middle Schools Wake County Schools
High Schools Wake County Schools
Others
Tax ID 1713288854
Special Listing Condition Standard
