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613 Craven St 1.99 Acres of Residential Land Offered at $750,000 in Durham, NC 27704
Investment Highlights
- Up to 16 total lots available.
- Near major employment and pharmaceutical manufacturing investment in the Durham market.
- Potential for additional subdivision and multiple housing types, subject to City approval.
- Located within Durham city limits.
- Established neighborhood with ongoing new construction and redevelopment.
- Well suited for a builder seeking multiple homesites in one concentrated area.
Executive Summary
Rare opportunity to acquire a group of residential infill lots within an established Durham neighborhood. The primary offering includes 11 lots for $750,000, consisting of:
- Lots 8 and 9 of Block C at 608 Craven Street
- Lots 9-14 of Block B at 613 Craven Street
- Lots 6-8 of Block B at 702 Martin Street
Five additional lots in the estate, lots 1 through 5, are also available for $50,000 each, providing the opportunity to acquire up to 16 total lots.
The properties have frontage on paved public roads with utilities available in the area. The surrounding neighborhood was developed primarily in the 1950s and 1960s and has seen continued reinvestment. Older homes and vacant lots are replaced with new construction.
The City of Durham may allow additional subdivision and a range of housing types under current development regulations. This offering is well-suited for a builder or developer looking to construct multiple homes within one neighborhood and benefit from Durham's continued growth and employment expansion.
See the attached historical survey for additional property details. Buyers should independently verify zoning, subdivision potential, utility capacity, permitted uses, and development requirements.
- Lots 8 and 9 of Block C at 608 Craven Street
- Lots 9-14 of Block B at 613 Craven Street
- Lots 6-8 of Block B at 702 Martin Street
Five additional lots in the estate, lots 1 through 5, are also available for $50,000 each, providing the opportunity to acquire up to 16 total lots.
The properties have frontage on paved public roads with utilities available in the area. The surrounding neighborhood was developed primarily in the 1950s and 1960s and has seen continued reinvestment. Older homes and vacant lots are replaced with new construction.
The City of Durham may allow additional subdivision and a range of housing types under current development regulations. This offering is well-suited for a builder or developer looking to construct multiple homes within one neighborhood and benefit from Durham's continued growth and employment expansion.
See the attached historical survey for additional property details. Buyers should independently verify zoning, subdivision potential, utility capacity, permitted uses, and development requirements.
Property Facts
| Price | $750,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 1.99 AC |
| Zoning | RU-5 | ||
| Price | $750,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 1.99 AC |
| Zoning | RU-5 |
1 Lot Available
Lot
| Price | $750,000 | Lot Size | 1.99 AC |
| Price Per AC | $376,884.42 |
| Price | $750,000 |
| Price Per AC | $376,884.42 |
| Lot Size | 1.99 AC |
Level residential lot offering mature trees, established neighborhood setting, and convenient access to major roadways and nearby retail. Positioned within a desirable Raleigh subdivision with utility availability, ready for future home construction
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 129762 | Improvements Assessment | $13,116 |
| Land Assessment | $137,000 | Total Assessment | $150,116 |
Property Taxes
Parcel Number
129762
Land Assessment
$137,000
Improvements Assessment
$13,116
Total Assessment
$150,116
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613 Craven St