2230 New Hope RdRaleigh, NC 27610

Property Details for 2230 New Hope Rd

Lot size

65.99 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 65.99-acre commercial land parcel presents a rare development opportunity in Raleigh, North Carolina's rapidly expanding Olde Towne community. Located at 2230, 2260 & 2221 S New Hope Rd, Wake County, zip code 27610, this property boasts a CX-5 CU zoning designation, allowing for significant development potential. Existing entitlements permit the construction of up to 360,000 square feet of retail space and 110,000 square feet of office space. The site benefits from its strategic location within the 515-acre Olde Towne master-planned community, a thriving mixed-use development just six miles east of downtown Raleigh. This location is further enhanced by the presence of approximately 2,000 existing and planned residential units, including 360 apartments (delivered 2021), 450 apartments under construction, 584 townhomes (phased delivery starting Q1 2022, priced $350,000-$410,000), and an additional 700 single-family units anticipated to begin delivery in 2023. The property's infrastructure is fully developed, including roadways and master stormwater systems, minimizing development time and costs. This turnkey opportunity allows developers to capitalize on existing market demand and avoid the complexities and risks associated with securing entitlements and infrastructure. The APN numbers are 1722867012

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.7469

Longitude

-78.5656

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