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1508 N Alston Ave - 1508 N Alston Ave Portfolio 0.51 Acres of Commercial Land Offered at $799,999 in Durham, NC 27701
INVESTMENT HIGHLIGHTS
- Four contiguous parcels totaling over half an acre in Durham’s Urban Tier
- Feasibility study supports 18-unit apartment or 12-unit condo development
- No off-street parking required under current zoning standards
- Two existing duplexes fully leased, generating immediate income
- Eligible for Durham’s Affordable Housing Bonus for increased density
EXECUTIVE SUMMARY
DATA ROOM Click Here to Access
PROPERTY FACTS
1 LOT AVAILABLE
Lot 1,2,3
| Price | $799,999 | Lot Size | 0.51 AC |
| Price Per AC | $1,568,625.49 |
| Price | $799,999 |
| Price Per AC | $1,568,625.49 |
| Lot Size | 0.51 AC |
Positioned in the heart of Durham’s rapidly evolving urban core, this ±0.519-acre land portfolio offers a rare opportunity to capitalize on flexible zoning and strong rental fundamentals.
DESCRIPTION
The site’s location within the Urban Development Tier eliminates parking minimums and supports higher-density residential uses. With proximity to downtown Durham, major employment centers, and transit corridors, the property is ideally situated for infill development. The feasibility study recommends rezoning the Lee Street parcel to RU-M to unify zoning across the site, enhancing development flexibility. Due diligence items such as stormwater management, utility access, and right-of-way improvements have been preliminarily addressed, with no known riparian buffers or floodplain issues. The site is well-positioned for developers seeking to deliver attainable housing in a high-demand market.
PROPERTY TAXES
| Parcel Number | 110954 | Improvements Assessment | $197,155 |
| Land Assessment | $167,500 | Total Assessment | $364,655 |
PROPERTY TAXES
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1508 N Alston Ave - 1508 N Alston Ave Portfolio
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