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    OFF-MARKET
    Retail space

    3824 New Bern Ave, Raleigh, NC 27610

    1 ac lot
    Property ID
    US53-0849565
    Property summary
    AI-generated overview

    This exceptional ±1-acre commercial land parcel, located at 3824 New Bern Ave, Raleigh, NC 27610, presents a remarkable redevelopment opportunity. Situated directly on Raleigh's planned Bus Rapid Transit (BRT) system, this property boasts unparalleled accessibility and visibility. With over 40,000 vehicles passing daily on New Bern Avenue, this site offers exceptional exposure for a variety of uses. The property's CX-3 zoning permits diverse development options, including offices for small businesses, free-standing retail, auto repair, flex warehouse space, or multifamily housing. Its strategic location provides easy access to Interstate-440, WakeMed Andrews Center, and downtown Raleigh (a mere 3.8 miles or 10-minute drive). The property also benefits from convenient access from both New Bern Avenue and Frazier Drive. Across New Bern Avenue sits a Walmart Supercenter and Tower Shopping Center, ensuring high foot traffic and established commercial presence. The surrounding neighborhood is poised for significant growth and increased density, with plans for affordable housing and mixed-use projects along the future transit corridor. This is a rare opportunity to acquire a prime commercial site in a rapidly evolving area of Raleigh. The property's APN is 0066819

    Property profile
    Verified
    Property type Retail space
    Lot 1 ac (43,560 SF)
    APN 0066819; 0066855
    UPID US53-0849565
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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