# 2521 Lake Wheeler Road, Raleigh, NC 27603

> **TL;DR:** land, $6,000,000. Est. $26,000/mo. Listed 31 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $6,000,000 |
| Lot Size | 361,548 sqft (8.30 acres) |
| Property Type | Land (Other) |
| Status | For Sale |
| Days on Market | 31 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $26,000 |
| **Total** | **$26,000** |

## Nearby Schools

- **Elementary:** Wake - Yates Mill
- **Middle:** Wake - Dillard
- **High:** Wake - Athens Dr

## Property Highlights

- 8.30 acre lot

## Description

### Agent 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

- **Address:** 2521 Lake Wheeler Road, Raleigh, NC 27603
- **County:** Wake
- **Neighborhood:** Not in a Subdivision
- **Coordinates:** 35.745515, -78.675038
- **Google Maps:** https://www.google.com/maps?q=35.745515,-78.675038

## Listing Agent

- **Name:** Ken Stancil
- **Brokerage:** Performance Property Partners LLC
- **Phone:** 9194221093
- **Email:** kenstancil@gmail.com

## Primary Photo

![2521 Lake Wheeler Road - Primary Photo](http://lh.rdcpix.com/ab9ae428df81d549ae10f051d250da80l-f3832537136r.jpg)

*10 total photos available on [listing page](https://www.propertysimple.com/listing/2521-lake-wheeler-road-raleigh-nc-27603-10151560)*

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**MLS#:** 10151560 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/2521-lake-wheeler-road-raleigh-nc-27603-10151560)

---

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