Property profile

1321 Carthage St Durham, NC 27703

OFF-MARKET
Land
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Property summary

AI-generated overview

This exceptional 4.055-acre parcel of land presents a unique development opportunity in Durham, North Carolina. Located at 1321 Carthage Street, this property boasts an advantageous RS-8 zoning designation, permitting a maximum density of five dwelling units per acre. The current owner has already conceptually designed a five-lot subdivision plan, offering flexibility for various development scenarios. This plan could accommodate the construction of five duplexes (resulting in ten total units) or five detached single-family residences. The property's strategic location offers convenient access to key amenities and infrastructure. It's situated approximately 305 feet from Holloway Street, providing easy access to I-885. Commuting to Downtown Durham is also a breeze, with a short 9-minute drive (3.2 miles) to the city center. The proximity to I-885 and the signalized intersection at Holloway Street ensures excellent connectivity and accessibility for future residents. This property is zoned for residential use and presents a compelling investment opportunity for developers seeking to capitalize on Durham's thriving real estate market. The existing conceptual plan provides a solid foundation for immediate development, minimizing upfront planning costs and expediting the project timeline. This is a rare chance to acquire a sizable residential lot in a desirable Durham location. The property's size and zoning make it an attractive prospect for both large-scale and smaller-scale residential projects.

Property profile

Verified
Property type Land

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1321 Carthage St Durham, NC 27703
Durham metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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