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1508 N Alston Ave - 1508 N Alston Ave Portfolio 0.51 Acres of Commercial Land Offered at $550,000 in Durham, NC 27701
Investment Highlights
- Two adjacent parcels with a combined acreage of approximately 0.51 acres.
- Existing water meters and sewer laterals on-site, reducing development costs and timelines.
- Located minutes from Downtown Durham, Duke University, and Research Triangle Park, offering strong connectivity.
- Zoned Economic Development District (EDD) with allowance for multifamily redevelopment.
- Potential to create up to six residential lots based on current zoning guidelines.
- Proximity to planned mixed-use and residential developments supports long-term market demand.
Executive Summary
The site’s location supports strong connectivity to major economic drivers including Downtown Durham, Duke University, and Research Triangle Park, all within a short commute. Planned residential and mixed-use projects in the surrounding area further amplify demand and long-term upside. Additionally, exemption eligibility from the Goose Creek Outfall Impact Basin offers notable savings, easing entry for development initiatives.
Positioned in one of the most resilient real estate markets in the Southeast, this property represents a rare chance to capitalize on Durham’s persistent housing demand and robust infrastructure network.
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Property Facts
| Price | $550,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.51 AC |
| Property Type | Land | ||
| Zoning | EDD - Economic Development District | ||
| Price | $550,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.51 AC |
| Zoning | EDD - Economic Development District |
1 Lot Available
Lot 1,2,3
| Price | $550,000 | Lot Size | 0.51 AC |
| Price Per AC | $1,078,431.37 |
| Price | $550,000 |
| Price Per AC | $1,078,431.37 |
| Lot Size | 0.51 AC |
0.51 acres, zoned under the Economic Development District in Durham, NC. Existing utility infrastructure includes water meters and sewer laterals. The parcels are accessed via Lee Street and Alston Avenue. Located near Downtown Durham.
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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