$1,350,000

306 S Allen Road, Wake Forest, NC 27587

  • 23,438 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1958
  • Property Lot Size Icon2.74acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $58/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Prime Downtown Wake Forest Redevelopment Opportunity - Approved Senior Housing ProjectFor Sale - Reduced by $150,000 to $1.35 MillionPresenting 306 S. Allen Road, a 2.74-acre parcel in the heart of Downtown Wake Forest. This site is already zoned and site-plan approved for a 31-unit senior apartment building totaling 23,438 square feet.The property is ideally located with easy access to major highways and direct connectivity to Raleigh via US 1/Capital Boulevard, making it convenient for residents and visitors alike.Demographics within a 10-mile radius:- Total population: 271,184 residents- Ages 62-64: 35,609 residents- Ages 65 and older: 42,571 residentsThis property represents an excellent investment opportunity in one of Raleigh's most popular and growing suburbs. While the site needs redevelopment work, the seller is open to joint-redevelopment discussions, offering flexibility for developers and investors alike.Note: 100% of the dwelling units must be designated for residents 62 years and older.Highlights:- 2.74 acres in Downtown Wake Forest- 23,438 sq ft site-plan-approved development- Zoned for 31 senior apartment units- Easy access to US 1/Capital BlvdSeller open to joint-redevelopment discussions.A rare approved opportunity in a thriving downtown location with strong senior housing demand.

Listing Status:
Active
Listing Office:
Ninja Realty : 252-226-0992
Listing Agent:
James Hutson : 252-915-2311
MLS ID:
10133837
  • General: High Speed Internet
  • General: Other1
  • Road/Access: Public Road
  • Originating MLS: AMLSNC_TRIANGLE
  • County: Wake
  • Zoning: DB 19069PG 2745184-068-8987
  • Utilities: Electricity ConnectedSewer ConnectedWater Connected
  • Water: Public
  • Sewer: Public Sewer
  • Source: AMLSNC_TRIANGLE

This listing courtesy of James Hutson, Ninja Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

W

Wake Forest Elementary School

136 W Sycamore Ave, Wake Forest, NC, 27587

Grades PK-5

0.64 miles away

H

Heritage Middle School

3400 Rogers Rd, Wake Forest, NC, 27587

Grades 6-8

1.60 miles away

W

Wake Forest High School

420 Stadium Dr, Wake Forest, NC, 27587

Grades 9-12

1.08 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.