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32 AC Raleigh Development Parcel

Raleigh, NC 27560

Wake County, North Carolina

32 Acres
Land Auction
October 14, 2020 12:00 PM
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Property Description

32 AC Raleigh - $112K HH Income | 48% Growth

Investment Highlights

±32.05 AC of commercial land within master planned mixed use community of Brier Creek within Raleigh, Nc

Strong Demographics in 5-Mile Trade Area | 50% Growth Area

Currently zoned Commercial Mixed Use-3 (Cx-3-Pk) (City of Raleigh Etj)

Located in affluent section of Raleigh with average HH income over $100K and home values over $275K

Impressive trade area including over 1M square feet of retail space and over 2,200 homes

Positioned along Globe Rd with traffic counts of 19,000 VPD at intersection of proposed future parkway extension

Less than 30 minutes from Downtown Raleigh

Offering Details

CBRE and RealINSIGHT are pleased to present Brier Creek Commercial Land (“Property”) consisting of ±32.05 gross acres in Raleigh, North Carolina.

The Property consists of three parcels located at the intersection of Globe Road and the proposed Aviation Parkway Extension. The assemblage is currently zoned Commercial Mixed Use-3 (Cx-3-Pk), with highly favorable and flexible zoning categories that allow for a wide variety of uses with a range of allowable densities. Permitted uses under the Commercial Mixed-Use zoning include retail sales and services, restaurant, hotel, office, medical office, apartments, single family residential, indoor/outdoor recreation, etc. Please review the due diligence vault for more information on zoning, permitted uses or estimated net acreage after dedicated ROW and Tca.

Centrally located in Raleigh/Durham, Brier Creek is one of the most vibrant and appealing regions in the country. Brier Creek is a ±2,000-Acre master planned community offering a wide variety of housing options and nearly 1 million square feet of retail space with numerous restaurants, services and retailers surrounding the Brier Creek Country Club and golf course. The Property is located on the western perimeter of a dense retail/residential corridor and is across the street from Brier Creek Community Center and Brier Creek Medical Pavilion. National retailers in the area include Walmart, BJ's Wholesale Club, Dick's Sporting Goods, HomeGoods, Michael's, PetSmart, Ross, Target and T.J. Maxx. Brier Creek is well-positioned in the trade area at the intersection of Highway 70 and Interstate 540, in between Raleigh and Durham in one of the region's fastest growing submarkets. Brier Creek provides quick access to the Raleigh-Durham International Airport and the Research Triangle Park, both within a 5-minute drive. From 2010-2020, the area around the property experienced explosive growth with a 48% population increase within a five-mile radius and double-digit growth expected to continue for the next five years. In 2020, the Property had approximately 81,419 individuals residing within a five -mile radius with an average household income of ±$111,993.

Raleigh has been named as the nation's top area for business by Fortune magazine, as well as the 1 place to live by Money magazine, and the best spot to retire by Consumers Guide. This opportunity gives potential investors the ability to acquire a ±32.05-Acre assemblage within the master planned mixed use community of Brier Creek at significant discount with huge value-add potential through future development.

More Property Details

Commercial Zoning
51 Days Ago
Last Updated
51 Days Ago
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