2521 Lake Wheeler Road, Raleigh, NC 27603

Raleigh
Local realty services provided by:ERA Parrish Realty Legacy Group
2521 Lake Wheeler Road,Raleigh, NC 27603
$6,000,000
  • 8.3 Acres
  • Lots / Land
  • Active
Listed by: ken stancil, lisa johnson
Office: performance property partners llc.
MLS#:10151560
Source:RD

Price summary

  • Price:$6,000,000

About this home

Prime multifamily development opportunity in one of Raleigh's most active growth corridors. 8.30 acres with 437.5± LF of road frontage on Lake Wheeler Road, zoned R-10 with an Apartment land use designation. By-right density supports approximately 83 units; rezoning potential to 150-200 units for qualified developers. City of Raleigh gravity sewer confirmed at property boundary. No wetlands, no hydric soils -- Cecil sandy loam dominant, well-drained and highly buildable throughout. Two existing structures (c. 1927) on-site; demolition required. Situated in the rapidly developing Lake Wheeler Road/Dorothea Dix Park corridor with $21.8M in City-funded road improvements underway, The Weld (675-unit luxury high-rise) under construction nearby, and Allora Pines (224-unit Class A community, 2024) immediately adjacent. Approximately 4 miles to Downtown Raleigh, 4 miles to NC State University, and 20 minutes to Research Triangle Park. Offering Memorandum available upon request. Do not disturb

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Home facts

  • Listing ID #:10151560
  • Added:1 day(s) ago
  • Updated:March 10, 2026 at 03:17 PM

Structure and exterior

  • Lot area:8.3 Acres
  • Lot Features:Cleared, Wooded

Schools

  • High school:Wake - Athens Dr
  • Middle school:Wake - Dillard
  • Elementary school:Wake - Yates Mill

Utilities

  • Water:Public, Water Available
  • Sewer:Public Sewer, Septic Tank, Sewer Available

Finances and disclosures

  • Price:$6,000,000
  • Tax amount:$18,301
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