Downtown Durham Multifamily Development
For Sale
Contact for pricing
6 Grace Lane, Durham, NC 27701
Fully entitled 1.65-acre site approved for mixed-use development.
Property SizeContact for details
Lot Size1.65 Acres
Days on Market170
Property Features for 6 Grace Lane
General Information
Standard status
Active
Lot size
1.65 Acres
Property subtype
Land
Listing Agency:
Lee & Associates - Raleigh Durham
(703) 772-2339
Listed By:
Mike Glennon · License #343217
(703) 772-2339
Source:
Lee-associates
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 8 at 1:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Raleigh Durham
Investment Insights
Based on property information with market context.
The property at 6 Grace Lane presents a multifamily development opportunity in Downtown Durham. The site, spanning approximately 1.65 acres, has site plan approval for a mixed-use project. The development is planned to include 201 residential units and 8,721 square feet of ground-floor commercial space. The unit mix includes 90 studio units, 94 one-bedroom units, and 17 two-bedroom units. Located within a federally designated Opportunity Zone, the property is positioned for value creation. Sewer capacity has been approved and allocated for all 201 units, and there are no affordable housing requirements. The parking ratio is 80%, with 161 residential parking spaces and 62 additional unrestricted parking spaces on Elizabeth Street between Holloway and Main Street. Situated at the intersection of Liberty Street and Elizabeth Street, the property provides access to employment, dining, entertainment, and cultural amenities. The surrounding area features new multifamily developments, contributing to Downtown Durham’s eastward expansion, with access to downtown and employment hubs. The zoning is DD-S2 (Downtown Durham – Subdistrict 2). The parcel number is 0831260575.
Key Highlights
- Site‑plan approved for a mixed‑use project: 201 residential units and 8,721 SF of ground‑floor commercial space.
- Located in the heart of Downtown Durham, with access to employment, dining, entertainment, and cultural amenities.
- Located within a federally designated Opportunity Zone.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Fully entitled 1.65-acre site approved for mixed-use development.
Where is this commercial land located?
The property is located at 6 Grace Lane Durham, NC.
What are key features of this property?
This property features: Site‑plan approved for a mixed‑use project: **201 residential units and 8,721 SF of ground‑floor commercial space**.; Located in the heart of Downtown Durham, with access to employment, dining, entertainment, and cultural amenities.; Located within a federally designated Opportunity Zone.
