Land

Crabtree North

2251 Charles Dr Raleigh, North Carolina United States 27612-4083
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Land Area ()

Property Description

Crabtree North is a 168-unit entitled multifamily development opportunity on +/- 5.19 acres in the heart of Raleigh's booming Crabtree corridor. The site is fully designed and entitled for 168 units with a wrap deck and is ready for GC bids. There are no remaining off-sites, except a minimal sewer line extension. The site includes  +/- 3.91 usable acres, with the remaining +/- 1.28-acre BMP site convertible for future development. Currently, the site has 51 vintage units that are 98% occupied and have enjoyed a $210,378 trailing 12 NOI (December 2019-2020).

Investment Highlights

  • Fully designed & entitled for 168 multifamily units
  • Cash-flowing vintage units that are 98% leased
  • Across from Crabtree Valley Super Regional Mall
  • No. 1 – Homebuilding prospects 2021 (ULI)
  • No. 1 – Overall real estate prospects 2021 (ULI)
Last Updated Date: 11 Jan 2021
Sarah Godwin
Sarah Godwin
Director, Capital Markets
License details
NC-270966 SC-108916
+351300505915
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Last Updated Date: 11 Jan 2021

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