4 Locations

BACK ON THE MARKET WITH PRICE REDUCTION!! This .61 ac assemblage is equally attractive for multifamily developer or for a user/investor looking for a killer restaurant/bar location. The two buildings are currently functional and leases can be extended during planning approvals and construction OR be renovated to house two new food and beverage operations to serve this growing downtown Raleigh neighborhood. With surface parking and covered outdoor dining options, the two buildings can capitalize on an amazing downtown location with the convenience of great neighborhood accessibility.

The property is uniquely situated between Red Hat Amphitheater (⅓ mi), the Center for the Performing Arts (½ mi) and the Raleigh Convention Center to the east, Union Station multi-modal hub (½ mi) to the north, the Bus Rapid Transit line and Raleigh Greenway (¼ mi) to the south and Raleigh’s jewel, the 300 acre Dorothea Dix Park (⅓ mi) to the southwest. It is surrounded by over 2,500 new and under-construction residential units and lies within both the Frequent Transit Area and the Transit Overlay district which both provide options and incentives for increased height and greater residential densities.

This Downtown Raleigh portfolio consists of .61 acres in 4 parcels of urban redevelopment land in the Raleigh Warehouse District, which is the most dynamic redevelopment area in the City of Raleigh. The property currently includes two rented buildings on short term leases which can provide modest net revenue during the development planning and approval process.

Zoning: The property is zoned by City of Raleigh for Industrial Mixed Use with Three Story Height Limit and Urban Limited frontage designation with conditions (IX-3 UL CUD). This permits a range of uses including retail, light industrial and residential but is governed by zoning restrictions which are available upon request.