124 East Cabarrus Street
Description
This exceptional property presents a unique opportunity for developers and investors seeking a prime foothold in the heart of Raleigh's vibrant Central Business District. Situated on a highly visible corner lot at 124 E. Cabarrus St., this .09 acre property enjoys immediate proximity to the renowned Lincoln Theatre, a cultural landmark. Currently operating...OFFERS RECEIVED- Deadline is 12pm March 7 for submissions. Rare Find: Income-Generating Downtown Parking Lot Adjacent to the Historic Lincoln Theatre
This exceptional property presents a unique opportunity for developers and investors seeking a prime foothold in the heart of Raleigh's vibrant Central Business District. Situated on a highly visible corner lot at 124 E. Cabarrus St., this .09 acre property enjoys immediate proximity to the renowned Lincoln Theatre, a cultural landmark. Currently operating as a successful parking lot with a management lease, the property generates consistent income while offering significant upside potential.
- Listed by Meredith Mclaurin Little • Hodge & Kittrell Sotheby's Int
Property Details for 124 East Cabarrus Street
Recent comparable sales
Median sold price
$700,000
Avg days on market
48
Sale-to-list ratio
101.9%
[Raleigh, NC]
9 comparable properties found
$785,000
Sold 03/04/25
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.32
- Acres
$685,000
Sold 03/25/26
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.19
- Acres
$700,000
Sold 06/12/25
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.54
- Acres
$610,000
Sold 08/12/25
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 1.16
- Acres
$725,000
Sold 07/09/26
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.39
- Acres
$775,000
Sold 12/09/25
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 3.5
- Acres
$470,000
Sold 09/26/25
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.14
- Acres
$240,000
Sold 12/04/24
- Unavailable
- Bedrooms
- Unavailable
- Bathrooms
- Unavailable
- Square Feet
- 0.12
- Acres
Location
Building Information for 124 East Cabarrus Street
Payment Calculator
$4,790 per month
30 year fixed, 6.55% Interest
$4,066
$724
$0
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1Property Information for 124 East Cabarrus Street
- Directions: From I-40, take exit 99 for Hammond and Person St. Take a left at the exit ramp towards Person St/ downtown Raleigh. In .7 miles, take a left on Cabarrus St. Property will be on the left, adjacent to The Lincoln Theatre.
- Subdivision Name: Not in a Subdivision
- Latitude: 35.774053
- Longitude: -78.637542
- Road Frontage Type: City Street
- Road Surface Type: Alley Paved, Asphalt, Concrete
- Association: No
- Tax Annual Amount: $8,681.53
- City Limits Of: Raleigh
- City Limits YN: Yes
- Lot Number: 0
- Restrictive Covenants YN: No
- Lease Expiration Date: 2025-01-31
- Original MLS: Triangle MLS Inc
- Property Leased YN: Yes
- Years Owned: 1 or More Year(s)
- Elementary School: Wake County Schools
- Middle Or Junior School: Wake County Schools
- High School: Wake County Schools
- Lot Size Dimensions: 56.42ft x 78.06ft x 58.49ft x 79.06ft
- Parcel Number: 1703765810
- List PriceAcre: 9333333.33
- Road Frontage Length: 56
- Sold PriceAcre: 8888888.89
- Sold PriceList Price: 0.95
- Photos Count: 9
- Below Grade Finished Area Units: Square Feet
- Sewer: Public Sewer
- Utilities: Electricity Available
- Water Source: Public
- Water_Sewer: Public, Public Sewer, Electricity Available
- Pool Private: No
- Interior: Electricity Available
- Property Type: Land
- Property Class Name: CrossProperty
- Lease Term: Month To Month
Property History for 124 East Cabarrus Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Aug 19, 2025 | Sold TRIANGLEMLS #10071291 | — | |
| Aug 19, 2025 | Pending TRIANGLEMLS #10071291 | — | |
| Aug 18, 2025 | Sold (Public Record) Public Record #1913569011 | $800,000 | — |
| Aug 18, 2025 | Sold TRIANGLEMLS #10071291 | $800,000 | — |
| Mar 7, 2025 | Pending TRIANGLEMLS #10071291 | — | |
| Feb 28, 2025 | Price Change TRIANGLEMLS #10071291 | $840,000 | — |
| Jan 16, 2025 | Listed (Active) TRIANGLEMLS #10071291 | $1,200,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 08/19/2025 | Sold TRIANGLEMLS #10071291 | — |
| 08/19/2025 | Pending TRIANGLEMLS #10071291 | — |
| 08/18/2025 | Sold (Public Record) Public Record #1913569011 | $800,000 |
| 08/18/2025 | Sold TRIANGLEMLS #10071291 | $800,000 |
| 03/07/2025 | Pending TRIANGLEMLS #10071291 | — |
| 02/28/2025 | Price Change TRIANGLEMLS #10071291 | $840,000 |
| 01/16/2025 | Listed (Active) TRIANGLEMLS #10071291 | $1,200,000 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Public Records for 124 East Cabarrus Street
Schools near 124 East Cabarrus Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 13 |
Rating | School | Distance |
|---|---|---|
Joyner Elementary PublicPK to 5 | ||
Moore Square Magnet Middle School Public6 to 8 | ||
Needham Broughton High Public9 to 12 | ||
Wake Young Men's Leadership Academy Public6 to 13 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
New listings in 27601
Nearby home values
| Address | Sold price | Beds | Baths | Sqft | Lot (Sqft) |
|---|---|---|---|---|---|
This home: 124 East Cabarrus Street, Raleigh, NC 27601 | $800,000 | – | – | – | 3,920 |
– | – | – | 7,833 | 6,534 | |
$265,000 | – | – | 3,000 | 6,534 | |
– | – | – | – | 5,227 | |
$225,000 | – | – | – | 4,792 | |
$140,000 | – | – | – | 4,356 | |
$53,000 | – | – | – | 2,614 | |
– | – | – | 3,180 | 3,920 | |
– | – | 3 | – | 10,019 | |
– | – | – | 1,138 | 3,049 | |
– | – | – | – | 3,049 | |
$1,098,000 | – | 1 | – | 61,420 | |
– | – | 1 | – | 5,663 | |
– | – | – | – | 3,485 | |
$55,000 | – | – | 1,170 | 14,810 | |
– | – | – | – | 3,485 |
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Hodge & Kittrell Sotheby's Int
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