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- LoopNet Team
424-432 S McDowell St
Raleigh, NC 27601
Land For Sale
·
0.58 AC
INVESTMENT HIGHLIGHTS
- In the heart of Downtown across from Convention Center
- 432 S McDowell St, Raleigh, NC - fee simple (0.10 (acres)
- 216 W Cabarrus St, Raleigh, NC - air rights (0.17 acres)
- Zoned for 20 stories (DX-20-SH)
- 424 S McDowell St, Raleigh, NC - fee simple (0.31 acres)
- Additional parking can be available for purchase or lease from adjoining Wake County’s parking deck that accommodates 900+ spaces
PROPERTY FACTS
DESCRIPTION
UNIQUE DEVELOPMENT OPPORTUNITY AT THE EPICENTER OF DOWNTOWN RALEIGH | SALE PRICE: $5,750,000 Addresses: 424 - 432 McDowell Street | Raleigh, NC 27601 & 216 W Cabarrus Street | Raleigh, NC 27601 Zoning: DX-20-SH / Downtown Mixed-use Acreage: 0.58 total acres (0.41 acres / 0.17 acres) Parking: Conceptual plan includes 323-space parking deck Additional parking available from nearby lots and parking decks ---------------------------------------------------------------------------------------------------------------------------------------------- Well-positioned across from the Raleigh Convention Center and Red Hat Amphitheater, the property’s prime location, access to parking, surrounding amenities, and incredible views of the cityscape make it ideal for an office, hotel, apartment, or mixed-use development. Development site consists of two lots totaling 0.58 acres plus air rights and is zoned for 20-stories. Parking available for long term leases from nearby private parking lots as well as the adjoining Wake County parking deck accommodating 900+ spaces. Significant parking exemptions and reductions available to support nearly any type of development contemplated on this site. Two conceptual plans included in this brochure show the site’s potential for a mixed-use apartment/retail development with parking deck as well as plans for a 168- key hotel. --------------------------------------------------------------------------------------------------------------------------------------------- Over the last 30+ years, growth in Raleigh and the surrounding Research Triangle Region has consistently and significantly outpaced the nation. Fueled by an impressive mix of education, workforce talent, ingenuity, and innovation, North Carolina’s capital city has become an internationally recognized leader in life sciences and technology. It also happens to be a great place to live offering its residents a premier quality of life.
PROPERTY TAXES
| Parcel Number | 1703.41-67-1000-000 | Improvements Assessment | $0 |
| Land Assessment | $1,666,170 | Total Assessment | $1,666,170 |
PROPERTY TAXES
