Property profile

2700 Forestville Rd Wake Forest, NC 27587

OFF-MARKET
Land
11.79 ac lot
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Property summary

AI-generated overview

This exceptional 11.79-acre parcel of residential land presents a remarkable opportunity for developers in the thriving Wake Forest, NC market. Located at 2700 Forestville Road, Wake County, zip code 27587, this property boasts readily available water and sewer infrastructure, significantly streamlining the development process. A preliminary plan already outlines the potential for 24 single-family home lots, maximizing the land's potential for high-value residential construction. The strategic location offers significant advantages. The property sits adjacent to a planned development encompassing 224 apartment units and 147 townhouses, creating a vibrant and desirable neighborhood. Wake Forest and nearby Rolesville are experiencing rapid growth, making this land ideally positioned to capitalize on the increasing demand for housing in this area of North Carolina. The asking price for this prime development opportunity is $1,750,000. This is a rare chance to acquire a substantial tract of land in one of North Carolina's fastest-growing regions, poised for immediate development and significant return on investment. Detailed site plans and further information are available upon request.

Property profile

Verified
Property type Land
Lot 11.79 ac (513,572 SF)

Cap rate & NOI

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

Location

2700 Forestville Rd Wake Forest, NC 27587
Wake Forest metro
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Value estimations

Realmo proprietary · 4 methods
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Blend (final) Blend
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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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