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31583787
31583788

306 E Hargett Street, Raleigh, NC 27601

ML
NC 278209
Coldwell Banker Howard Perry and Walston Raleigh
Listed by Coldwell Banker Howard Perry and Walston Raleigh
$1,100,000
219 days on market
Updated 34 days ago

306 E Hargett Street

Details
Property Type Special Purpose
Sub Type Other
Price Per Acre $9,681,818
Broker Co-Op Yes
Lot Size (SqFt) 4,791
Zoning DX-20

Special Purpose

Marketing description

Prime Development Opportunity in Downtown Raleigh! Raleigh, NC 27601Seize a rare opportunity to build your vision in the heart of one of the fastest-growing downtowns in the Southeast. This .11 acre commercial land lot is perfectly situated on East Hargett Street, a location with deep historical roots and now a dynamic corridor positioned for significant redevelopment and growth. The Opportunity: The land has been cleared and Ready to Build Clean Slate: Formerly the site of a popular restaurant, the existing structure is being demolished following a fire, presenting a completely cleared lot ready for new construction. Save time and money on demolition, and jump straight into design and development. Ideal Size: At approximately $0.11$ acres, this parcel is perfect for a boutique retail, mixed-use, office, or dining concept designed to thrive in a high-density, urban environment. High-Growth Market: Adjacent to Moore Square. Downtown Raleigh's population has significantly increased, drawing in a young, highly educated demographic with an average individual income over $94,000.3 Capitalize on the demand for new residential, retail, and experiential spaces.

Investment highlights

That's an excellent approach! Combining the listing with specific zoning information and high-value development concepts will make the property immediately more attractive to serious developers.

Here is the enhanced listing description, followed by the specific zoning and development concepts.

🔥 Prime Development Opportunity: Blank Canvas in Downtown Raleigh's East Hargett Corridor! 🔥

306 E Hargett St, Raleigh, NC 27601

Seize a rare, cleared, and shovel-ready $0.11 acre parcel in a high-demand downtown location. Formerly the site of a community landmark, the property is being fully demolished after a fire, offering a clean slate for immediate new construction. This is a strategic investment in the heart of one of the Southeast's fastest-growing and most dynamic city centers.

Zoning & Development Potential

The property is zoned Downtown Mixed Use (DX), which is the most flexible and desirable zoning category in the central business district.

ComponentZoning DesignationTypical Requirements & OpportunitiesBase ZoningDX (Downtown Mixed-Use)Allows for a broad range of uses: Residential, Retail, Office, Lodging, and Restaurant/Bar.Height(Likely DX-20 or DX-30)Downtown Mixed-Use often permits significant vertical development, up to 20 or 30 stories, allowing for maximum density and return on investment. (Buyer must verify the specific height designation for the parcel.)Frontage(Likely Urban General -UG or Shopfront -SH)Requires the building to abut the street and sidewalk, creating a highly walkable, "Main Street" environment with minimal setbacks.

Disclaimer: Buyer must independently verify the specific DX-Height and Frontage designations, as well as all dimensional and design standards with the City of Raleigh Planning Department prior to purchase.

Strategic Development Concepts for $0.11\pm$ Acres

Given the prime location near Moore Square and the flexible DX zoning, the highest and best use for this compact parcel involves maximizing height and utilizing the ground floor for high-engagement uses.

ConceptDescription & Target MarketBoutique Mixed-Use BuildingGround Floor: High-end, quick-serve restaurant, cocktail bar, or flagship retail space with street-facing glass frontage. Upper Floors: 4-6 units of luxury micro-apartments or for-sale condominiums (1-2 bedroom units). This model capitalizes on the massive demand for downtown living.Signature Restaurant/BarA sleek, multi-story venue (2-3 stories) designed for an anchor tenant. The small footprint is ideal for a concept with a rooftop or multi-level patio, offering exclusive views of downtown and capitalizing on the high demand for experiential dining/drinking.Creative Office / Tech HubA small, modern office building catering to high-growth tech, finance, or design firms. The building would focus on unique architecture, high-end finishes, and potentially an outdoor amenity space on the second or third floor.

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Listing Contacts

ML
NC 278209
Coldwell Banker Howard Perry and Walston Raleigh
Listed by Coldwell Banker Howard Perry and Walston Raleigh

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