Auction Information
Online Bidding Site1.56 Acres in Wake Forest, NC
Subject offers 1.56 acres of commercial land available at 12049 Retail Drive, directly off US Route 1.
Wake Forest, NC, is a growing Raleigh suburb; the subject site is surrounded by national retailers and adjacent to a Target-anchored center.
Ready for an investor/ developer to bring a commercial building to the lively corridor; there have been conceptual drawings for a 4K building.
HB zoning allows for a range of uses, including but not limited to a bank, office, medical office, restaurant/bar, church, and most retail uses.
More than $4.4 billion is generated annually in the 10-mile realms powerful consumer spending power.
More than 9,200 vehicles pass daily on the east side of the property (Durham Rd), and more than 49,200 pass on the west side (US Route 1).
Foundry Commercial is pleased to present approximately 1.56 acres of commercial land off the Old NC Highway 98 / Durham Ro...
Foundry Commercial is pleased to present approximately 1.56 acres of commercial land off the Old NC Highway 98 / Durham Road at the corner of Retail Drive and Warmoven Street in Wake Forest (Raleigh-Durham), North Carolina. The property features strong demographics and is near many national retailers and amenities. The site is adjacent to the Target-anchored Capital Plaza Shopping Center, less than a mile north of the NC Highway 98 Bypass, 1.2 miles north of the future Wegmans-anchored Grove 98 development, 20 miles east of Downtown Durham, and less than 30 minutes north of Downtown Raleigh. The property features a favorable Highway Business (HB) zoning designation within the Town of Wake Forest and has been conceptually drawn for a 4,000-square-foot commercial building.
The Raleigh-Durham market is a stable place to do business, with low costs, a low tax structure, and a pro-business regulatory environment. Construction costs, electric rates, overall taxes, and the cost of living are all below the national average. The state of North Carolina, along with Wake County and the City of Raleigh, has secured a AAA bond rating for the last 50 years, making North Carolina one of only 10 states to earn this rating. Raleigh-Durhams competitive business climate has helped attract employers looking to relocate their operations away from rising rent in other major metros and has helped existing companies grow and thrive. While rents are ever-rising in tech hotspots like Silicon Valley, talent continues to move to new growth markets like the Raleigh metro, which can support lifestyles equally for a lower cost.
Raleigh-Durham is insulated from severe economic downturns due to a high percentage of employment in the public sectorincluding federal, state, and local governments, plus local public universities and hospital-related employers. Among the 52 employers with employment above 1,000, the public sector represents 25 organizations that employ over 150,000 people. These public employers are either growing or maintaining a stable workforce.
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