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2521 Lake Wheeler Road, Raleigh, NC 27603

Raleigh
Local realty services provided by:CENTURY 21 Nexum Realty
2521 Lake Wheeler Road,Raleigh, NC 27603
$6,000,000
  • 8.3 Acres
  • Lots / Land
  • Pending
Listed by: ken stancil, lisa johnson
Office: performance property partners llc.
MLS#:10151560
Source:RD

Price summary

  • Price:$6,000,000

About this home

Prime multifamily development opportunity in one of Raleigh's most active growth corridors. 8.30 acres with 437.5± LF of road frontage on Lake Wheeler Road, zoned R-10 with an Apartment land use designation. By-right density supports approximately 83 units; rezoning potential to 150-200 units for qualified developers. City of Raleigh gravity sewer confirmed at property boundary. No wetlands, no hydric soils -- Cecil sandy loam dominant, well-drained and highly buildable throughout. Two existing structures (c. 1927) on-site; demolition required. Situated in the rapidly developing Lake Wheeler Road/Dorothea Dix Park corridor with $21.8M in City-funded road improvements underway, The Weld (675-unit luxury high-rise) under construction nearby, and Allora Pines (224-unit Class A community, 2024) immediately adjacent. Approximately 4 miles to Downtown Raleigh, 4 miles to NC State University, and 20 minutes to Research Triangle Park. Offering Memorandum available upon request. Do not disturb...

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Home facts

  • Subdivision & Development:Not in a Subdivision
  • Listing ID #:10151560
  • Added:236 day(s) ago
  • Updated:November 01, 2026 at 12:20 PM

Structure and exterior

  • Lot area:8.3 Acres
  • Lot Features:Cleared, Wooded

Schools

  • High school:Wake - Athens Drive High
  • Middle school:Wake - Dillard Drive Middle
  • Elementary school:Wake - Yates Mill Elementary

Utilities

  • Water:Public
  • Sewer:Public Sewer, Septic Tank

Finances and disclosures

  • Price:$6,000,000
  • Tax amount:$18,301
MLS LogoListings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Copyright 2026 Doorify MLS of North Carolina. All rights reserved. RD Member Broker: Satya Pullakhandam

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