2414 NC-55 - Highway 55 Assemblage 4.73 Acres of Commercial Land in Durham, NC 27707
INVESTMENT HIGHLIGHTS
- Notable properties in the area include Lowe’s Home Improvement, Publix Supermarket, and Encore at the Park Luxury Apartments.
PROPERTY FACTS
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 4.73 AC |
| Cross Streets | Riddle Road |
1 LOT AVAILABLE
Lot
| Lot Size | 4.73 AC |
Property is well located for a unique opportunity to develop a mix of uses such as neighborhood commercial, office, retail, residential, and multifamily uses.
DESCRIPTION
The subject property consists of 4.73 acres of land among 3 parcels that is currently improved with a 736-sf office building, a convenience store, a self-service car wash, a 1,760-sf warehouse as well as a 2,160-sf laundromat. The Property is well located for a unique opportunity to develop a mix of uses such as neighborhood commercial, office, retail, residential, and multifamily uses. Existing properties along NC Highway 55 are generally residential or multifamily, with commercial uses mixed along NC Highway 55. Newly developed industrial developments, including the expansion of the Eli Lilly RTP Campus, are located conveniently near the subject property. Other notable properties in the area include Lowe’s Home Improvement, Publix Supermarket, and Encore at the Park Luxury Apartments.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $337,886 CAD | |
| Land Assessment | $789,875 CAD | Total Assessment | $1,127,762 CAD |
ZONING
| Zoning Code | CN (Commercial Neighborhood. Future land use will allow 6 to 12 dwelling units per acre.) |
