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About This Home
This land at 2521 Lake Wheeler Road in Raleigh, NC is listed for $6,000,000 (8.30 acres).
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 improve
ments 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.
Key Features
- 8.30 acre lot
Location
2521 Lake Wheeler Road
Raleigh, NC 27603
Not in a Subdivision
Questions & Answers
This 0-bedroom, 0-bathroom land at 2521 Lake Wheeler Road is listed at $6,000,000. The estimated monthly payment is $26,000 based on 20% down at 6.5% interest.
Key features include: 8.30 acre lot.
This property is listed by Ken Stancil and can be reached at 9194221093 or kenstancil@gmail.com.
