306 South Allen Road
















































Description
For Sale - Reduced by $150,000 to $1.35 Million
Presenting 306 S. Allen Road, a 2.74-acre parcel in the heart of Downtown Wake Forest. This site is already zoned and site-plan approved for a 31-unit senior apartment building totaling 23,438 square feet. The property is ideally located with easy access to major highways and direct connectivity to Raleigh via US 1/Capital Boulevard, making it convenient for residents...Prime Downtown Wake Forest Redevelopment Opportunity - Approved Senior Housing Project
For Sale - Reduced by $150,000 to $1.35 Million
Presenting 306 S. Allen Road, a 2.74-acre parcel in the heart of Downtown Wake Forest. This site is already zoned and site-plan approved for a 31-unit senior apartment building totaling 23,438 square feet. The property is ideally located with easy access to major highways and direct connectivity to Raleigh via US 1/Capital Boulevard, making it convenient for residents and visitors alike. Demographics within a 10-mile radius:
- Total population: 271,184 residents
- Ages 62-64: 35,609 residents
- Ages 65 and older: 42,571 residents
This property represents an excellent investment opportunity in one of Raleigh's most popular and growing suburbs. Note: 100% of the dwelling units must be designated for residents 62 years and older. Highlights:
- 2.74 acres in Downtown Wake Forest
- 23,438 sq ft site-plan-approved development
- Zoned for 31 senior apartment units
- Easy access to US 1/Capital Blvd
A rare approved opportunity in a thriving downtown location with strong senior housing demand.
- Listed by: James Hutson 252.915.2311 jameshutson@ninjarealtync.com Brokerage DRE #C26126 • Ninja Realty
Location
Sold By Ninja Realty
Payment Calculator
$8,810 per month
30 year fixed, 7.03% Interest
$6,940
$1,870
$0
Property Information for 306 South Allen Road
- Taxes: $22,441 / year
- MLS Type: Commercial Sale / Multi Family
- County: Wake County
- Subdivision: NOT IN SUBDIVISION
- Stories: 1
- Year Built: 1958
- Lot Size: 2.74 AC / 119,354 SF
- Directions: From Wake Forest head south on Front St toward E Roosevelt Ave. Turn left onto E Roosevelt Ave. Continue onto Wait Ave. Turn right onto S Franklin St. At the traffic circle, take the 3rd exit onto Elm Ave. Turn right onto S Allen Rd. Destination will be on the right
- Subdivision Name: NOT IN SUBDIVISION
- Latitude: 35.971714
- Longitude: -78.503623
- Road Frontage Type: Public Road
- Road Surface Type: Paved
- Tax Annual Amount: $22,441.03
- City Limits Of: Wake Forest
- Has City Limits: Yes
- Lot Number: x
- Original MLS: Triangle MLS Inc
- Has Property Leased: No
- Years Owned: 1 or More Year(s)
- Due Diligence Expiration Date: 2026-05-10
- Building Area Total: 23438.0
- Building Features: High Speed Internet
- Lot Size Dimensions: See plat
- Parcel Number: 184-068-8987
- Structure Type: Multi Family
- List PriceAcre: 492700.73
- Sold PriceAcre: 474452.55
- Sold PriceList Price: 0.96
- New Construction: No
- Business Type: Other
- Property Condition: Fixer
- Sewer: Public Sewer
- Utilities: Electricity Connected, Sewer Connected, Water Connected
- Water Source: Public
- Construction Materials: Other
- New Construction Type: Multi Family, Other
- Stories: 1
Property History for 306 South Allen Road
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| May 29, 2026 | Sold Doorify MLS (fka Triangle MLS) #10133837 | $1,300,000 | — |
| May 26, 2026 | Sold (Public Record) Public Record #1940917346 | $1,300,000 | +8.0% / yr |
| Feb 24, 2026 | Pending Doorify MLS (fka Triangle MLS) #10133837 | — | |
| Nov 19, 2025 | Listed (Active) Doorify MLS (fka Triangle MLS) #10133837 | $1,350,000 | — |
| Sep 30, 2025 | Expired Hive MLS #100482908 | $1,500,000 | — |
| Jan 10, 2025 | Listed (Active) Hive MLS #100482908 | $1,500,000 | — |
| May 6, 2022 | Sold (Public Record) Public Record #1492539676 | $950,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 05/29/2026 | Sold Doorify MLS (fka Triangle MLS) #10133837 | $1,300,000 |
| 05/26/2026 | Sold (Public Record) Public Record #1940917346 | $1,300,000 +8.0% / yr |
| 02/24/2026 | Pending Doorify MLS (fka Triangle MLS) #10133837 | — |
| 11/19/2025 | Listed (Active) Doorify MLS (fka Triangle MLS) #10133837 | $1,350,000 |
| 09/30/2025 | Expired Hive MLS #100482908 | $1,500,000 |
| 01/10/2025 | Listed (Active) Hive MLS #100482908 | $1,500,000 |
| 05/06/2022 | Sold (Public Record) Public Record #1492539676 | $950,000 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Public Records for 306 South Allen Road
Schools near 306 South Allen Road
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 13 |
Rating | School | Distance |
|---|---|---|
Wake Forest Elementary PublicPK to 5 | ||
Wake Forest Middle School Public6 to 8 | ||
Wake Forest High School Public9 to 12 | ||
North Wake 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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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 Ninja Realty
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.


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