Downtown Raleigh Development Site

Capstone is pleased to present the Downtown Raleigh Development Site, a 0.92-acre site in the heart of downtown Raleigh. Future ownership of Downtown Raleigh will be presented with an excellent opportunity to acquire a zoned and entitled site, allowing for an easy path to development. The Downtown Raleigh Development Site is currently zoned and entitled as TOD or Transit Oriented Development. Properties that are zoned as TOD sit along Raleigh’s first Bus Rapid Transit corridor. The development site is located within proximity to all major employers, retail, and commercial services in Raleigh. Located at the intersection of a planned bus rapid transit stop with an approved grocery store site directly adjacent, the site sits along New Bern Ave, giving future residents easy access to demand drivers and major thoroughfares across Raleigh-Durham. Future residents will reach downtown Raleigh within five minutes by car. Downtown Raleigh is home to major amenities such as the North Carolina Museum of Natural Sciences, Red Hat Amphitheater, North Carolina Museum of Art, and City Market. North Hills is also a quick 12-minute drive away. North Hills is one of North Carolina’s most upscale locations and one of the most sought-after neighborhoods in Raleigh. The submarket is home to over 130+ local shops, high-end shopping, recognized restaurants, lively bars, outdoor concerts, top employers, and modern apartments. Additionally, located 23 minutes away, the Research Triangle Park leads the charge as the main economic driver in the market. The Research Triangle Park is home to over 300 companies including Google, IBM, Cisco, Biogen, Oracle, Red Hat, Lenovo, and Apple. Boasting a workforce of over 55,000 people, the Research Triangle Park contributes to over $2.7 billion in annual economic activity. The Downtown Raleigh Development Site presents an outstanding opportunity for future ownership to capture market share in one of the fastest-growing submarkets in the United States.

Investment Highlights:

Development Flexibility | 5-Story Development with 8-Story Potential

Currently Zoned as TOD | Located Along Bus Rapid Transit Line

Adjacent to an Approved Grocery Store Site

Rapid Growing Market with Strong Market Fundamentals

Centrally Located to Raleigh’s Urban Core

Proximity to Major Employers