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Dream Team United

| Dream Team United | Keller Williams Connected | PLACE

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2521 Lake Wheeler Rd , Raleigh, NC 27603
$6,000,000
Est. Payment: $13,333.33/mo
0 Bed
0 Bath
0 Sqft
Status: Pending | Days on site: 175
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T296 - stancilken,johnsonlis,stancilken
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House 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.
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Highlights

Listed by Ken Stancil , 919-422-1093 and Lisa Johnson , 919-625-1676 Performance Property Partners LLC , 919-625-1676.

Property Type

Vacant Land
Lot/Acreage
8.3

County

Wake

 Neighborhood

Not in a Subdivision

Listing ID

10151560

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Water:Public,None

Exterior Features

Lot:Cleared,Wooded
Lot Dimensions:444.12' x 339.25 x 820.26' x 110.30' x 119.37'
Zoning:R-10
Sewer:Public Sewer,Septic Tank
Principal Interest
$13,333
Taxes
$1,525

Home Price

$6,000,000

Loan Details

30 yrs
%

Down Payment

20%
$1,200,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$13,333.33

Principal

Taxes

Principal Taxes HOA Total
Monthly $13,333.33 $1,525.10 $0.00 $14,858.44
Yearly $160,000.00 $18,301.23 $0.00 $178,301.23
Total $4,800,000.00 $549,036.90 $0.00 $5,349,036.90

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Raleigh, NC).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.