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121 Elliott Rd 3.1 Acres of Commercial Land Offered at $2,500,000 in Chapel Hill, NC 27514
Investment Highlights
- Located in Sub-Area E of Chapel Hill’s North 15-501 Corridor Focus Area, where policy supports higher-density residential.
- Public water & sewer along both frontages. No major off-site extensions anticipated; lowers development cost & timeline risks.
- ±3.1 acres with frontage on Velma & N. Elliott near retail, transit, & established neighborhoods; one of the Triangle’s most supply-constrained area.
Executive Summary
±3.1-acre vacant infill site in Chapel Hill along the East Franklin/Elliott Road corridor—designated within the Town’s Future Land Use Map as Sub-Area E, supporting higher-density residential in a transitional setting. Fully assembled with frontage on Velma Rd and N. Elliott Rd.
Property Facts Under Contract
| Price | $2,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Single Family Development |
| No. Lots | 1 | Total Lot Size | 3.10 AC |
| Property Type | Land | Cross Streets | Velma Rd |
| Zoning | R-1 - Located in Sub-Area E of Chapel Hill’s FLUM, supporting higher-density residential—strong policy basis for rezoning (subject to approval). | ||
| Price | $2,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Single Family Development |
| Total Lot Size | 3.10 AC |
| Cross Streets | Velma Rd |
| Zoning | R-1 - Located in Sub-Area E of Chapel Hill’s FLUM, supporting higher-density residential—strong policy basis for rezoning (subject to approval). |
1 Lot Available
Lot
| Price | $2,500,000 | Lot Size | 3.10 AC |
| Price Per AC | $806,451.61 |
| Price | $2,500,000 |
| Price Per AC | $806,451.61 |
| Lot Size | 3.10 AC |
Land for sale
Description
Public water and sewer are available along both frontages. Concept plan illustrates approximately 25–30 residential units, thoughtfully designed around an existing RCD buffer. Currently zoned R-1; rezoning required. Strong policy support and prime location near retail, transit, and established neighborhoods.
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
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121 Elliott Rd
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