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    2040 Milburnie Rd Raleigh, NC 27610

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    For Sale
    $1,150,000

    Prime investment opportunity: 0.7-acre corner lot near downtown Raleigh.

    Lot size:
    0.70 Acres

    Property Features for 2040 Milburnie Rd

    General Information

    Standard status
    Active
    Lot size
    0.70 Acres

    Source: THE EQUITY GROUP Agent RON COOPER

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Corner Lot Near Downtown Raleigh

    This 0.7-acre corner lot is located at the intersection of North Raleigh Boulevard and Milburnie Road, offering convenient access to downtown Raleigh. Zoned R6, the property presents an outstanding investment opportunity with the potential for multiple build scenarios. Options include subdividing the lot to construct single-family homes, townhomes, or duplexes, subject to approval by the Raleigh Planning Department. The owner intends to have the existing home moved from the lot before closing but may include the home in the sale as-is if it cannot be moved in time. There is an adjacent vacant lot on Colleton, and acquiring it along with this property could create a sizeable development area on the corner. All offers will be considered.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.6129896
    Latitude
    35.7877992

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    FAQs

    What type of property is this?
    Land - Prime investment opportunity: 0.7-acre corner lot near downtown Raleigh.
    Where is this land located?
    The property is located at 2040 Milburnie Rd Raleigh, NC.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: - Prime corner lot location at the intersection of North Raleigh Blvd and Milburnie Road, offering convenient access to downtown Raleigh.; - Zoned R6 on .7 acres, presenting an outstanding investment opportunity with potential for multiple build scenarios subject to Raleigh Planning Department approval.; - Potential for increased density and possible rezoning, with Raleigh Planning indicating receptiveness based on new owner interest, subject to approval.
    (919) 225-4889
    Request Owner's contact information
    2040 Milburnie Rd Raleigh, NC 27610
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    Raleigh, NC 27610
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2040 Milburnie Rd Raleigh, NC 27610
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