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Nearby Schools
Wake - Yates MillElementary School
Wake - DillardMiddle School
Wake - Athens DrHigh School
Description
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 occupants.
Location
Listed By
Listing Agent
Ken Stancil
Performance Property Partners LLC
Co-Listing Agent
Lisa Johnson
Performance Property Partners LLC
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Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database.
Copyright © Triangle MLS, Inc. of North Carolina. All rights reserved. Updated: 17th April, 2026 11:31 PM (UTC)
Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database.
Copyright © Triangle MLS, Inc. of North Carolina. All rights reserved. Updated: 17th April, 2026 11:31 PM (UTC)
Listing Agent: Ken Stancil
Listing Office: Performance Property Partners LLC
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