301 W Cabarrus St, Raleigh, NC 27601

Foundry Commercial, a North Carolina broker, has been retained as the exclusive agent for the owner of 301 West Cabarrus (the “Property”), a ±1.05-acre property located adjacent to Red Hat Amphitheater and developed with a ±25,000 SF warehouse and 56-space surface parking lot. The industrial warehouse on the property is currently unoccupied with no lease in place and the parking lot generated $51,763 in gross revenue in 2025. Zoned DX-12-UG the property maintains significant development potential up to 12-stories with a wide variety of by-right development options, including, multifamily, hospitality, and office. The property has received ASR approval for a 12-story 257-unit multifamily development, which expires in August 2026. With Raleigh’s plans to relocate Red Hat Amphitheater and expand the Raleigh Convention Center, 301. W. Cabarrus provides a truly unique opportunity to provide convenient, rapid-access surface parking in the interim with future development potential. Perfectly situated on the edge of the Warehouse and Fayetteville Street Districts, the property benefits from high daytime employment-driven demand and robust evening, nighttime, and weekend utilization. 301 West Cabarrus is uniquely positioned at the intersection of Downtown Raleigh’s Warehouse District and Fayetteville Street District, placing it at the center of the city’s most active and sought-after environment. The site is immediately adjacent to the planned Raleigh Convention Center expansion and steps away from Red Hat Amphitheater, and is surrounded by a critical mass of high-rise multifamily, premier office space, and a curated mix of award winning dining, retail, and hospitality offerings. The property also benefits from exceptional connectivity, located just four minutes from Raleigh Union Station and three minutes from Dix Park. With an impressive Walk Score of 91, the site offers seamless pedestrian access to Downtown’s primary employment, entertainment, and cultural destinations. This location uniquely blends the creative energy and character of the Warehouse District with the civic, cultural, and commercial core of the Fayetteville Street District. Offering a rare combination of prime location, in-place cash flow, and high-density development potential, 301 West Cabarrus is truly a generational investment opportunity. With zoning in-place for vertical development up to 12 stories, this site is poised for transformational growth – whether as a long-term income generation asset or a future landmark development opportunity in the heart of one of the Southeast’s fastest-growing cities.

The property encompasses ±1.05 acres at the corner of West Cabarrus Street and South Dawson Street in Downtown Raleigh. The property is developed with a ±25,000 SF industrial warehouse and a surface parking lot. The warehouse is currently unoccupied with no lease in place.