Description
Strategically positioned along one of Raleigh's most actively evolving urban corridors, this prominent OX-3 zoned corner property offers a rare opportunity to acquire a four-unit structure with exceptional mixed-use redevelopment, adaptive reuse, office conversion, residential repositioning, or future infill construction potential just minutes from Downtown Raleigh. Existing improvements require substantial rehabilitation and the property is being sold as-is, creating an ideal canvas for investors, developers, and visionary buyers seeking a high-visibility asset with multiple long-term value creation paths. The property is further strengthened by immediate adjacency to recently completed new home and condominium development and sits directly within the trajectory of significant public and private corridor investment, including New Bern Avenue Bus Rapid Transit infrastructure, expanding transit-oriented development momentum, rising multifamily and mixed-use demand, and increasing institutional growth connecting Downtown Raleigh, WakeMed, workforce housing nodes, and surrounding commercial services. With strong corridor presence, strategic downtown proximity, and continued redevelopment pressure throughout the surrounding area, this site represents a compelling opportunity to capitalize on one of Raleigh's emerging gateway growth corridors. Buyer to verify all intended uses with City of Raleigh. See photos of early plans of potential four-unit townhome building not yet city approved.
Details
| MLS # | 10165257 |
|---|---|
| Listing Type | For Sale |
| Style | Fourplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 144 |
| Listing Provided By | Redfin Corporation | Stacey Delgado |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,134 |
| Story(s) | 2 |
| Zoning | OX-3 |
| Acreage | 0.11 |
Interior
| Cooling Yes / No | Yes |
|---|---|
| Cooling | Multi Units |
| Rooms Total | 1 |
Exterior
| Roof | Shingle |
|---|---|
| Foundation Details | Crawlspace |
| Construction Materials | Vinyl Siding |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Assessed Value | 574567 |
|---|---|
| Tax Legal Description | New Bern Ave |
| Tax Year | 2025 |
Area Information
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27601 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Needham Broughton High |
| Elementary School | Wake - Powell Elementary |
| High School | Wake - Needham Broughton High |
| Listing VS Median (in Not in a Subdivision) | |
Price: $415,000 low | high Med: $379,000 sqft: 2,134 low | high Med: 949 $ / sqft: $194 low | high Med: $399 On site: 144 low | high Med: 33 | |
Market Activity 27601
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Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.
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Learn More About This Property
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27601 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Needham Broughton High |
| Elementary School | Wake - Powell Elementary |
| High School | Wake - Needham Broughton High |
| Listing VS Median (in Not in a Subdivision) | |
Price: $415,000 low | high Med: $379,000 sqft: 2,134 low | high Med: 949 $ / sqft: $194 low | high Med: $399 On site: 144 low | high Med: 33 | |
Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.
