Last Sold Price
1,348 sqft$352/sqft
5101 Memory Ln, Raleigh, NC 27609

Description

Zoned OX-3 (Office Mixed Used) Prime investment Property in Midtown--Property is vacant, it is a tear down where the underlying lot has multiple options for development including single family residential, multi-family, townhomes, apartments, Quadplex, duplex and a Office than can be 3 stories high. There are billions of dollars being invested in Midtown including tens of millions of dollars being invested in very close nearby properties. Also--Significant up-rezonings in the process in the nearby...Zoned OX-3 (Office Mixed Used) Prime investment Property in Midtown--Property is vacant, it is a tear down where the underlying lot has multiple options for development including single family residential, multi-family, townhomes, apartments, Quadplex, duplex and a Office than can be 3 stories high. There are billions of dollars being invested in Midtown including tens of millions of dollars being invested in very close nearby properties. Also--Significant up-rezonings in the process in the nearby area. This property must be purchase with the adjacent property 5105 Memory Rd as a simuataneous closing/transaction--seeMLS-2532285 Properties Being Sold As Is. Property listed for it's land value--agent has not been inside properties therefore there may be discepancies to the details listed in MLS.
LISTING CLOSED: 03/30/2024 10:04 AM

  1. Listed by Philip Layton • Market-One Realty, LLC

Property Details for 5101 Memory Lane

Status
MLS #
2533738
Taxes
$2,180 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Mixed Use
MLS Type
Commercial Sale / Mixed Use
Year Built
1958
Lot Size
0.41 AC / 17,859 SF

Recent comparable sales

Median sold price

$415,000

Avg days on market

110

Sale-to-list ratio

75.6%

[Raleigh, NC]

9 comparable properties found

1

$425,000

Sold 04/04/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,350
Square Feet
0.01
Acres
$450,000 | 2210 Spring Forest Road, Raleigh, NC 27615
1/5
2

$450,000

Sold 10/21/24

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
1.56
Acres
3

$510,000

Sold 04/23/26

Unavailable
Bedrooms
Unavailable
Bathrooms
1,536
Square Feet
Unavailable
Acres
4

$365,000

Sold 01/14/26

Unavailable
Bedrooms
Unavailable
Bathrooms
1,500
Square Feet
0.01
Acres
5

$425,000

Sold 12/20/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,448
Square Feet
Unavailable
Acres
6

$367,000

Sold 09/23/24

Unavailable
Bedrooms
Unavailable
Bathrooms
1,600
Square Feet
0.01
Acres
a view of a house with a tree in front of it
1/7
7

$300,000

Sold 04/28/26

Unavailable
Bedrooms
Unavailable
Bathrooms
1,363
Square Feet
0.43
Acres
a view of a wooden fence and trees
1/5
8

$415,000

Sold 02/12/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.9
Acres
9

$300,000

Sold 04/04/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,300
Square Feet
Unavailable
Acres

Location

Listing Courtesy of Market-One Realty, LLC

Sold By Property Specific, LLC

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Building Information for 5101 Memory Lane

Stories-Residences-Year Built1958Building Size-Lot Size0.41 AC / 17,859 SF

Payment Calculator

$2,596 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,414

Property Taxes

$182

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 5101 Memory Lane

Summary
Location and General Information
  • Zoning: OX-3
  • Directions: North on Falls of Neuse Rd TR on Millbrook TR on Memory
  • Latitude: 35.849
  • Longitude: -78.612243
  • Road Surface Type: Paved
Taxes and HOA Information
  • Tax Annual Amount: $2,180.00
  • Cross Street: Falls of Neuse Rd an
  • Lot Number: 4
Contract Information
  • Original MLS: Triangle MLS Inc
  • Due Diligence Expiration Date: 2024-02-28
Property
Lot Information
  • Building Area Total: 1348.0
  • Lot Features: Level
  • Lot Size Dimensions: 100 x 175 x 100 x 179
  • Available Acres: 0.41
  • List PriceAcre: 1341463.41
  • Road Frontage Length: 100
  • Sold PriceAcre: 1158536.59
  • Sold PriceList Price: 0.86
Property and Assessments
  • New Construction: No
  • Photos Count: 3
  • Below Grade Finished Area Units: Square Feet
Utilities
  • Sewer: Septic Tank
  • Water_Sewer: Septic Tank
Interior and Exterior Features
Exterior Features
  • Pool Private: No
Interior Features
  • Cooling?: Yes
  • Heating?: Yes
Agent
Sale and Listing
  • Property Type: Commercial Sale
  • Property Class Name: CrossProperty

Property History for 5101 Memory Lane

DateEvent & SourcePriceAppreciation
Mar 30, 2024

Sold

TRIANGLEMLS #2533738

Mar 30, 2024

Pending

TRIANGLEMLS #2533738

Mar 28, 2024

Sold

TRIANGLEMLS #2533738

$475,000
DateEvent & SourcePrice
03/30/2024

Sold

TRIANGLEMLS #2533738

03/30/2024

Pending

TRIANGLEMLS #2533738

03/28/2024

Sold

TRIANGLEMLS #2533738

$475,000

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

Schools near 5101 Memory Lane

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 - 9 to 12
Rating
School
Distance
Millbrook Elementary School
PublicPK to 5

East Millbrook Middle
Public6 to 8

Millbrook High
Public9 to 12

Phillips High
Public9 to 12

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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 5101 Memory Lane, Raleigh, NC 27609
$475,000
1,348
17,859
$475,000
3
1,449
20,037
$1,750,000
2
6,572
20,909
$5,870,000
17,312
84,942
$550,000
35,283
$1,538,000
6,540
30,928

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 Market-One Realty, 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.