Be Home Realty
1401 Aversboro Rd #101
Garner, NC 27529
$6,000,000 $32,209 est/mo Sourced by Back At You
2521 Lake Wheeler Road,Raleigh, NC 27603
Raleigh, NC 27603
Description
Prime multifamily development opportunity in one of Raleigh's most active growth corridors. 8.30 acres with 437.5± LF of road frontage on Lake Wheeler Road, zoned R-10 with an Apartment land use designation. By-right density supports approximately 83 units; rezoning potential to 150-200 units for qualified developers. City of Raleigh gravity sewer confirmed at property boundary. No wetlands, no hydric soils -- Cecil sandy loam dominant, well-drained and highly buildable throughout. Two existing structures (c. 1927) on-site; demolition required. Situated in the rapidly developing Lake Wheeler Road/Dorothea Dix Park corridor with $21.8M in City-funded road improvements underway, The Weld (675-unit luxury high-rise) under construction nearby, and Allora Pines (224-unit Class A community, 2024) immediately adjacent. Approximately 4 miles to Downtown Raleigh, 4 miles to NC State University, and 20 minutes to Research Triangle Park. Offering Memorandum available upon request. Do not disturb occupants.
Details
| MLS # | 10151560 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 174 |
| Listing Provided By | Performance Property Partners LLC | Ken Stancil |
Features
| Zoning | R-10 |
|---|---|
| Acreage | 8.30 |
| Property View | None |
Exterior
| Lot Features | Cleared, Wooded, None |
|---|---|
| Community Features | None |
| View | None |
| Horse Amenities | None |
Location
| Association Amenities | None |
|---|---|
| Community Features | None |
Utilities
| Utilities | Electricity Available, Sewer Available, Water Available |
|---|---|
| Sewer | Public Sewer, Septic Tank |
Taxes
| Tax Assessed Value | 2093937 |
|---|---|
| Tax Legal Description | Myatt LD |
| Tax Year | 2025 |
| Tax Map Number | 0005801 |
Area Information
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27603 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Athens Drive High |
| Elementary School | Wake - Yates Mill Elementary |
| High School | Wake - Athens Drive High |
| Listing VS Median (in Not in a Subdivision) | |
Price: $6,000,000 low | high Med: $395,000 On site: 174 low | high Med: 158.5 | |
Market Activity 27603
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Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.
Contact
Learn More About This Property
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27603 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Athens Drive High |
| Elementary School | Wake - Yates Mill Elementary |
| High School | Wake - Athens Drive High |
| Listing VS Median (in Not in a Subdivision) | |
Price: $6,000,000 low | high Med: $395,000 On site: 174 low | high Med: 158.5 | |
Nearby Listings (Within 1/4 mile)
Price: $4.5M - $7.5M
sqft: 0 - 0
Listing Updated: July 17, 2026 at 9:49:54 PM PDT
© 2026 Be Home Realty - (919) 307-9808. Equal housing opportunity. An equal opportunity company.
© Copyright 2026, Back At You
SITE POWERED BY
© 2026 Be Home Realty - (919) 307-9808. Equal housing opportunity. An equal opportunity company.
Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.
Listing Information Last Updated August 31, 2026 at 1:18:17 PM PDT