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618 Hillsborough StRaleigh, NC 27603

Prime Glenwood South location, high-potential development

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 0.68-acre parcel in downtown Raleigh's vibrant Glenwood South offers a rare development opportunity. Situated directly across from the landmark Bloc83 mixed-use development, this property benefits from its prime location within a thriving retail center generating over $1.2 billion in annual resident and visitor spending, with food and beverage tax collections exceeding $124 million. The combined 618 and 630 Hillsborough Street addresses encompass two buildings totaling between 13,440 and 16,552 square feet, currently housing a restaurant and a closed garage. The property is zoned Downtown Mixed-Use, allowing for up to 20 stories and a variety of uses including hotel, retail, apartments, office, and industrial space. A site plan for a 3,200 square foot restaurant is already approved, with renderings available upon request. This is one of the last remaining development sites in this highly sought-after area, presenting a unique chance to capitalize on the significant growth and investment in downtown Raleigh. The property's 11 units and its strategic location offer exceptional potential for a high-return investment. The permitted zoning ensures flexibility for a wide range of development options, catering to diverse market demands. This is a truly remarkable opportunity to create a landmark development in one of Raleigh's most dynamic neighborhoods.

Highlights

  • 0.68-acre combined parcel at 618 & 630 Hillsborough Street.
  • Prime Glenwood South location in Downtown Raleigh's booming retail center, generating over $1.2 billion in annual spending.
  • Across from Bloc83 mixed-use development.
  • One of the last remaining development sites in Glenwood South.
  • Existing improvements include a Char-Grill restaurant (approx. 16,552 SF) and a closed garage (approx. 13,440 SF) on a signalized corner lot.
  • Downtown Mixed-Use zoning allows for up to 20 stories and various uses including hotel, retail, apartments, office, and industrial.

Property Details for 618 Hillsborough St

Property type
Mixed-use properties, Land
Square Feet
13,440 SF
Class
A
Lot Size (sq. ft)
29,621 SF
Units
11

Location Insight

City
Raleigh
County
Wake
State
North Carolina
Latitude
35.7810728
Longitude
-78.6485173
618 Hillsborough St, Raleigh, North Carolina

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618 Hillsborough St
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