2521 Lake Wheeler Rd

Raleigh, NC 27603

$6,000,000
Price
361,548 / 8.3
Lot Size / Acres
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Description

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...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 occupants.
  1. Listed by Ken Stancil • Performance Property Partners LLC
  2. Listed by Lisa Johnson • Performance Property Partners LLC

Property Details for 2521 Lake Wheeler Road

View
None
View
No
Subdivision
Not in a Subdivision
LISTING UPDATED: 03/12/2026 03:10 PM

Property Details for 2521 Lake Wheeler Road

StatusActive
MLS #10151560
Days on Market27
Taxes$18,301 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand / Unimproved Land
Year Built-
Lot Size8.30 AC
CountyWake County
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Location

Listing Courtesy of Performance Property Partners LLC
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Building Information for 2521 Lake Wheeler Road

Lot Size8.30 AC

Payment Calculator

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$31,738 per month

30 year fixed, 6.46% Interest

Principal and Interest

$30,213

Property Taxes

$1,525

HOA Dues

$0

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Property Information for 2521 Lake Wheeler Road

Summary
Location and General Information
  • Zoning: R-10
  • Directions: From Downtown Raleigh, take South Saunders Street south -- road becomes Lake Wheeler Road. Property on right at 2501, just past Bristlecone Trail. GPS: 35.7454° N, 78.6751° W.'' Do not disturb occupants -- appointment required for all showings. Contact Ken Stancil at (919) 422-1093.
  • Subdivision Name: Not in a Subdivision
  • Latitude: 35.745515
  • Longitude: -78.675038
  • Road Frontage Type: State Road
  • Road Surface Type: Asphalt, Paved
  • Neighborhood: Swift Creek
Taxes and HOA Information
  • Association Fee Includes: None
  • Association: No
  • Tax Annual Amount: $18,301.23
  • City Limits Of: Raleigh
  • City Limits YN: Yes
  • Lot Number: 0
  • Restrictive Covenants YN: No
  • School District Link: https://www.wcpss.net
Contract Information
  • Comp Sale YN: No
  • Original MLS: Triangle MLS Inc
  • Property Leased YN: No
  • Years Owned: 1 or More Year(s)
School Information
  • Elementary School: Wake - Yates Mill
  • Middle Or Junior School: Wake - Dillard
  • High School: Wake - Athens Dr
Property
Lot Information
  • Lot Features: Cleared, Wooded
  • Lot Size Dimensions: 444.12' x 339.25 x 820.26' x 110.30' x 119.37'
  • Parcel Number: 0792663596
  • List PriceAcre: 722891.57
  • Power Production YN: No
  • Road Frontage Length: 437
Property and Assessments
  • Photos Count: 10
  • Possible Use: Development, Investment, Mixed Use, Residential, Single Family, Vacant
  • Below Grade Finished Area Units: Square Feet
  • Community Features: None
  • Current Use: Single Family
  • Senior Community: No
Utilities
  • Sewer: Public Sewer, Septic Tank
  • Utilities: Electricity Available, Sewer Available, Water Available
  • Water Source: Public, None
  • Water_Sewer: Public, None, Public Sewer, Septic Tank, Electricity Available, Sewer Available, Water Available
Interior and Exterior Features
Exterior Features
  • Fencing: None
  • Pool Private: No
Interior Features
  • Interior: Electricity Available, Sewer Available, Water Available
  • Additional Equipment: None
Agent
Sale and Listing
  • Property Type: Land
  • Property Class Name: CrossProperty

Property History for 2521 Lake Wheeler Road

DateEvent & SourcePriceAppreciation
Mar 10, 2026

Listed (Active)

TRIANGLEMLS #10151560

$6,000,000—
DateEvent & SourcePrice
03/10/2026

Listed (Active)

TRIANGLEMLS #10151560

$6,000,000

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

Schools near 2521 Lake Wheeler Road

This home is within Wake County School District.
Rating
School
Type
Grades
Distance
Yates Mill Elementary
Public - PK to 5
Dillard Drive Middle
Public - 6 to 8
Athens Drive High
Public - 9 to 12
Vernon Malone College and Career Academy
Public - 9 to 13
Rating
School
Distance
Yates Mill Elementary
PublicPK to 5

Dillard Drive Middle
Public6 to 8

Athens Drive High
Public9 to 12

Vernon Malone College and Career Academy
Public9 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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More information about 2521 Lake Wheeler Road, Raleigh, NC 27603

2521 Lake Wheeler Road is a 8.3 ac of land for sale in Raleigh, NC 27603. This property was listed for sale on March 10, 2026 by Performance Property Partners LLC, it's currently listed at $6,000,000. This listing's school district is Wake County School District. Nearby schools include Yates Mill Elementary, Dillard Drive Middle and Athens Drive High. 2521 Lake Wheeler Road is a 0-bed, 0-bath, 8.3 ac of land on a 361,548 sq. ft. / 8.3 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Performance Property Partners LLC

Listings 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 2024 Doorify MLS of North Carolina. All rights reserved.