5710 Glenwood AveRaleigh, NC 27612

Property Details for 5710 Glenwood Ave

Lot size

1.24 AC

Property type

Land

Description

This exceptional 1.24-acre commercial land parcel in Raleigh, North Carolina, presents a prime multifamily development opportunity. Located on Glenwood Avenue, a high-traffic corridor with 39,500 vehicles per day, this property boasts exceptional visibility and convenient access to major thoroughfares. The site is zoned R-4, permitting the development of up to 30 apartment units, aligning with recent city updates. An application for a 26-unit boutique apartment complex was submitted in January 2023 and is anticipated to receive approval within the next 2-3 months. Its strategic location offers proximity to key amenities and employment centers, including Crabtree Valley Mall (a 1.3 million square foot shopping center featuring Belk and Macy's), Pleasant Valley Promenade (a 359,000 square foot shopping center with Dick's Sporting Goods, Ross, and Marshalls), North Hills (10 minutes away), downtown Raleigh (15 minutes away), and Research Triangle Park (20 minutes away). Easy access to I-440 (5 minutes) and I-540 (10 minutes) further enhances its appeal. This property offers a unique chance to create a thriving apartment community in a highly desirable Raleigh location. The asking price is $1,150,000. The address is 5710 Glenwood Ave, Raleigh, NC 27612, in Wake County.

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.8521

Longitude

-78.6958

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