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310 W Lane St

16,160 SF Industrial Building Raleigh, NC 27603 $6,130,000 ($379/SF)

Investment Highlights

  • Corner on main corridor into downtown
  • Potential for high density redevelopment

Executive Summary

Adjoining buildings encompass corner of 302 and 310 W. Lane Street on .40 acre on a highly visible main corridor of downtown Raleigh from the North with traffic counts 26,000 cars per day.
The adjoining buildings total 16,160sf industrial masonry on slab zoned DX-12, but not being utilized to best potential of high density, mixed use development. Across the street on 2 different corners have already been rezoned to DX-40.
NOTE: 324 -326 W. Lane Street are also for sale through a different entity. The .99 acre sits next door and can be combined making it perfect for a highly visible, high density, mixed-use redevelopment with retail, residential, and hotel.
Building is long-term owner occupied and will need time to vacate.
Next door is the historic Melrose Knitting Mill with Mulino Italian Restaurant on bottom floor, events space Melrose Knitting Mill on the top floor, and soon to be available for lease will be approximately 3200+- sf in suite 100.
Across the street is the Michelin rated, boutique Long Leaf Hotel that offers craft cocktails and entertainment in an updated mid-century style hotel that also regularly attracts long-time locals.
Only a few steps from high density residential, government complexes, restaurants, nightlife, shopping, and other amenities.

Property Facts

Price $6,130,000
Price Per SF $379
Sale Type Investment or Owner User
Sale Conditions
1031 Exchange
  • Sale Leaseback
  • Redevelopment Project
Property Type Industrial
Property Subtype
Warehouse
  • Flex Light Manufacturing
  • Office Industrial Live Work Unit
Building Class C
Lot Size 0.40 AC
Rentable Building Area 16,160 SF
No. Stories 1
Year Built/Renovated 1961/2000
Tenancy Single
Parking Ratio 0.14/1,000 SF
No. Dock-High Doors/Loading 1
No. Drive In / Grade-Level Doors 2

Amenities

  • 24 Hour Access
  • Conferencing Facility
  • Security System
  • Wheelchair Accessible
  • Reception
  • Fluorescent Lighting
  • Air Conditioning
  • Fiber Optic Internet

Utilities

  • Lighting
  • Gas - Natural
  • Water - City
  • Sewer - City
  • Heating - Gas

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • N American Bocker Roofing & Construction Equipment
  • -
  • 13,669 SF
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
N American Bocker Roofing & Construction Equipment - 13,669 SF - -
Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1704.19-50-7507-000
Land Assessment
$2,280,802
Improvements Assessment
$82,315
Total Assessment
$2,363,117

zoning

Zoning Code DX-12 (Current zoning Downtown Mixed Use 12 stories with potential for rezoning for up to 40 stories or DX-40.)
DX-12 (Current zoning Downtown Mixed Use 12 stories with potential for rezoning for up to 40 stories or DX-40.)
  • Listing ID: 32508992

  • Date on Market: 7/18/2024

  • Last Updated:

  • Address: 310 W Lane St, Raleigh, NC 27603

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