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Poole Road & Hodge Rd - Riverview Commons 19.22 Acres of Commercial Land Offered at $5,558,300 in Knightdale, NC 27545
INVESTMENT HIGHLIGHTS
- The proposed I-540/Poole Road interchange is located one mile to the east with construction slated for 2028.
- Property is adjacent to the proposed Riverview Commons, an approved 73, 000 SF retail center currently for sale.
EXECUTIVE SUMMARY
Riverview Commons is located at the signalized Poole Road and Hodge Road intersection in Knightdale, NC. The 19.22-acre tract, Riverview Commons, was approved as an approximately 73,000-SF retail center in 2007. Phase 1 consisting of four (4) outparcels was constructed and accepted before the 2007 crash and the start of the shopping center site. Millions of dollars have been spent on infrastructure (retention pond, utilities, roads widened, etc.) for the shopping center site. Currently, there are two (2) existing grocers within a 3-mile radius.
The 26.84-acre tract wraps around the 19.22-acre tract and is zoned Residential Mixed-Use (RMX) which provides for areas of higher density residential development with maximum development density: 18 units/acre (gross acreage).
The highest and best use for these parcels is to combine the two parcels and redesign with a smaller retail center and the remainder as high density residential. Approved outparcels could be sold immediately for cash flow. Knightdale Planning Department has expressed their desire for this concept.
The 26.84-acre tract wraps around the 19.22-acre tract and is zoned Residential Mixed-Use (RMX) which provides for areas of higher density residential development with maximum development density: 18 units/acre (gross acreage).
The highest and best use for these parcels is to combine the two parcels and redesign with a smaller retail center and the remainder as high density residential. Approved outparcels could be sold immediately for cash flow. Knightdale Planning Department has expressed their desire for this concept.
PROPERTY FACTS
| Price | $5,558,300 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 19.22 AC |
| Property Type | Land | ||
| Zoning | NMX - Mixed Use | ||
| Price | $5,558,300 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 19.22 AC |
| Zoning | NMX - Mixed Use |
1 LOT AVAILABLE
Lot Retail
| Price | $5,558,300 | Lot Size | 19.22 AC |
| Price Per AC | $289,193.55 |
| Price | $5,558,300 |
| Price Per AC | $289,193.55 |
| Lot Size | 19.22 AC |
Land for sale
DESCRIPTION
• 26.84 acres zoned residential mixed use located at the intersection of Hodge Road and Poole Road. Hodge Road is becoming the Knightdale’s residential corridor because of the proximity to I-540 and I-440 • Both the subject property and the adjacent 19.22 acres, can be purchased for a successful mixed-use development • 900 lots are approved for this area and Phase I of Eastgate 540, Knightdale’s newest employment center, has been constructed • Eastgate 540 is located ¼ mile north of the property • City water and sewer at site • Zoned Residential Mix Use (NMX)
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Poole Road & Hodge Rd - Riverview Commons
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