5 Locations For Sale

Foundry Commercial, a North Carolina broker, has been retained as the exclusive agent for the owner of Carlton Avenue (the "Property"), a ±0.50-acre residential development opportunity located one block west of Gorman Street and two minutes from North Carolina State University's Main Campus. Zoned R-10 and within the SRPOD overlay, the property allows for by-right development of a wide variety of residential uses including detached, attached, townhouse, and apartment product. The zoning also allows for construction of accessory dwelling units which can further increase density at the site. The owner has prepared conceptual plans featuring five duplex buildings consisting of 10 units and a total of 40 bedrooms. The combination of in-place zoning, residential flexibility, and proximity to NC State University makes Carlton Avenue a compelling opportunity in one of Raleigh's most active growth submarkets.

Located one minute from the Western Boulevard/Gorman Street interchange and two minutes from NC State University's Main Campus, Carlton Avenue offers exceptional access to employment, education, and amenities. NC State, one of the Southeast's premier research institutions, spans over 2,000 acres, employs over 10,000 people, and enrolls over 36,000 students, generating consistent and durable demand for quality housing in the surrounding area. The Varsity Park and Ride Lot, just one block east of the site, provides direct connectivity to campus.

Beyond the university, Carlton Avenue sits within easy reach of some of central Raleigh's most desirable destinations including Dorothea Dix Park, Pullen Park, the Village District, and the retail and dining corridors along Western Boulevard and Hillsborough Street. Major employment centers in Downtown Raleigh and North Hills are similarly accessible, broadening the potential renter profile well beyond the student population and reinforcing the site's appeal across a range of residential development strategies.