Sold
Last Sold Price
3,920 Lot Size0.09 Acres
124 E Cabarrus St,ย Raleigh, NCย 27601
LandProperty Type
0.09 acresLot Size

Description

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
...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 919.757.2175 meredith.mclaurin@hodgekittrellsir.com Brokerage DRE #C1002 โ€ข Hodge & Kittrell Sotheby's Int
Listing closed: 08/18/2025 12:00 AM โ€ข Source: Doorify MLS (fka Triangle MLS), MLS#: 10071291

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Location

Listing Courtesy of Hodge & Kittrell Sotheby's Int
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$4,858 per month

30 year fixed, 6.71% Interest

Principal and Interest

$4,134

Property Taxes

$724

HOA Dues

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Property Information for 124 East Cabarrus Street

Property Details
  • Taxes: $8,682 / year
  • MLS Type: Land / Unimproved Land
  • County: Wake County
  • Subdivision: Not in a Subdivision
Building Information
  • Lot Size: 0.09 AC
Summary
Location and General Information
  • 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: Asphalt, Alley Paved, Concrete
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $8,681.53
  • City Limits Of: Raleigh
  • Has City Limits: Yes
  • Has Restrictive Covenants: No
Contract Information
  • Lease Expiration Date: 2025-01-31
  • Original MLS: Triangle MLS Inc
  • Has Property Leased: Yes
  • Years Owned: 1 or More Year(s)
School Information
  • Elementary School: Wake County Schools
  • Middle Or Junior School: Wake County Schools
  • High School: Wake County Schools
Property
Lot Information
  • Lot Size Dimensions: 56.42ft x 78.06ft x 58.49ft x79.06ft
  • Parcel Number: 1703765810
  • List PriceAcre: 9333333.33
  • Road Frontage Length: 56
  • Sold PriceAcre: 8888888.89
  • Sold PriceList Price: 0.95
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Available
  • Water Source: Public
Rental
Rental Information
  • Lease Term: Month To Month

Property History for 124 East Cabarrus Street

DateEvent & SourcePriceAppreciation
Aug 18, 2025

Sold (Public Record)

Public Record #1913569011

$800,000โ€”
Aug 18, 2025

Sold

Doorify MLS (fka Triangle MLS) #10071291

$800,000โ€”
Mar 7, 2025

Pending

Doorify MLS (fka Triangle MLS) #10071291

โ€”
DateEvent & SourcePrice
08/18/2025

Sold (Public Record)

Public Record #1913569011

$800,000
08/18/2025

Sold

Doorify MLS (fka Triangle MLS) #10071291

$800,000
03/07/2025

Pending

Doorify MLS (fka Triangle MLS) #10071291

โ€”

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 124 East Cabarrus Street

Taxable ValueLand$999,600Additions-Total$999,600
Tax Record2025$9,397 ($783 / month)
Home Facts
Beds0Lot Size3,920 SqFtStyleMiscellaneous Vacant LandZoningDX-12CountyWAKEAPN1703.43-76-5810-000

Schools near 124 East Cabarrus Street

This home is within Wake County School District.
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.

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Listing Courtesy of Hodge & Kittrell Sotheby's Int

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