$1 Auction, 14.42 AC Raleigh Msa

Property Description

RealINSIGHT Marketplace Online Auction June 26-28, 2023.

All bidders must register with Marketplace to participate in the auction event.

Investment Highlights

Favorable B-3, Commercial Zoning with Flexible Uses Permitted including Office, Service, Restaurant, Hotel, Retail, and Self-Storage

1,500' of Frontage on Us-70 Business and Benefitting from Traffic Counts of ±14,494 Vpd

Federal Opportunity Zone

Strong Demographics with a 5-Mile Population of ±32,804 and Annual Household Income of ±$69,587

Tremendous 30% Growth from 2010-2022 and Future Double-Digit Growth Anticipated (5-Mile Radius)

Absolute $1 Auction - NO Reserve.

Offering Summary

Marcus & Millichap and RI Marketplace are pleased to present a 14.42-Ac parcel adjacent to 3300 Us-70 Bus (the “Property”) in Clayton, North Carolina. The Property offers an exceptional investment opportunity via development and first bid meets reserve.

The Property consists of an expansive parcel totaling 14.42 acres. The Property is positioned on Us-70 (Business Extension) with over 1,500 feet of frontage and visibility benefiting from traffic counts of 14,494 vehicles per day. Demand generators in the area include Amazon Distribution Center (1.5 miles), Johnston Community College (5.4 miles), and Carolina Premium Outlets (6.5 miles). The Property benefits from highly favorable and flexible B-3 Commercial zoning that allows for a wide variety of commercial uses including retail, personal service shops, restaurants, hotels/motels, and mini-warehouse self-storage. The Property is located in a Federal Opportunity Zone to incentivize development in certain communities by providing tax benefits to investors.

The Property is located approximately 26 miles southeast of Raleigh. Interstate 95 runs along the southeastern edge of town and the area benefits from easy access to the greater Raleigh Durham MSA with a population over two million people. As of 2022, there were approximately 32,804 residents with an average household income of $69,587 within a 5-mile radius of the Property. The population has experienced 30.66% growth from 2010-2022 with 21.37% growth expected to continue through 2027.

Jerry E. King

King Auction & Realty Co., Inc.

License: 1010

Nc Broker's license: 22778