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Listed by Coast 2 Coast Real Estate Conn
$ 1,300,000
Est. payment | /mo
1,891 SqFt
$ 1,300,000
Est. payment | /mo
1,891 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,891 sqft
Price per Sqft $687
MLS Listing ID 10164475
HOA Y/N No
Year Built 1963
Annual Tax Amount $2,271
Lot Size 6,970 Sqft
Acres 0.16
Lot Dimensions .16
Property Sub-Type Retail
Source Doorify MLS
Land Area 1891
Property Description
Rarely available, prime investment and development opportunity in an unbeatable location approximately 1 mile from Downtown Raleigh. Property offers strong visibility and frontage on New Bern Avenue. Zoned NX-3 (Neighborhood Mixed Use), allowing for a wide range of residential, commercial, and mixed-use development options. Property is three units but currently operating as one unit. Situated within an Opportunity Zone, providing potential tax advantages and alternate zoning opportunities. Currently leased through 2027 on a Triple Net (NNN) lease, offering stable income with minimal landlord responsibilities. Positioned at a planned stop for the future Raleigh Bus Rapid Transit (BRT) line, supporting long-term growth and accessibility. Ideal for investors or future owner-operators.
Location
State NC
County Wake
Area 0.16
Zoning NX-4
Interior
Fireplace No
Exterior
Garage No
Building
New Construction No
Others
Tax ID 171306384900000 0031019
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Schools and Properties Nearby
Learn More About LPT Realty
Meagan Black
License ID: 334577