2.31 Acres, Bidding Starts At $1

Land Description

The 2.31 Acres in Raleigh, NC will be auctioned off on the online commercial real estate platform, RealINSIGHT Marketplace.

Bidding Starts at $1. This is an absolute auction. First bid meets reserve.

Investment Highlights

Highly Flexible Zoning with Wide Range of Densities

Hard Corner Intersection Location

Excellent Location in Retail Nod & Within ±5 Miles of Rapidly Growing Wake Forest

Realinsight Marketplace and Cbre's Investment Group is pleased to offer for sale ±2.31 acres for development within the thriving Wakefield Community in Raleigh, North Carolina (Parcel931). This parcel is currently wooded land and is served by City of Raleigh utilities. The Property has highly favorable and flexible zoning that allows for a very wide variety of office, retail, and residential uses at a range of allowable densities. Per the new City of Raleigh's Unified Development Ordinance (Udo), the Property is zoned Cx-3 which is Commercial Mixed Use (Cx-) with Height up to 3 Stories with Uwpod. This Property offers a huge value-add opportunity through development to maximize highest and best use.

The Property is located on a hard corner at the intersection of Wakefield Crossings Drive and Falls of Neuse Road. The ±2.31 AC Parcel is adjacent to Living Arts College and near numerous Poi/Amenities including Rex Wakefield Medical Center, The Columns at Wakefield residential community, Wakefield Commons, and Wakefield Elementary and Middle Schools as well as numerous offices, medical offices, and amenities. The Property is also located within a heavy retail nod and has the potential to draw from several national retailers already in the immediate area such as Food Lion, McDonald's, Galaxy Fun Park, Walgreens, Dunkin', SunTrust, Harris Teeter, Walmart Supercenter, Aldi, Taco Bell, Mattress Firm, Texas Roadhouse, Red Robin, Chili's, Firestone, GameStop, PNC Bank, Wells Fargo, Holiday Inn, and Crossroads Nissan.