4810 Bluestone Dr - Hospitality FOR SALE


Raleigh, NC 27612
$11,120,000 USD
843-952-2267
4810 Bluestone Dr, Raleigh, NC for Sale
$11,120,000 USD
Hospitality - FOR SALE
1/20
null | Request Cap Rate

4810 Bluestone Dr
Raleigh, NC 27612


HIGHLIGHTS

  • Prime Location: Situated in the heart of Crabtree Valley, the property benefits from high demand for residential housing in one of Raleigh’s most desi
  • Strong Market Dynamics: Raleigh’s robust job market, population growth, and high quality of life drive consistent demand for multifamily housing, ensu
  • Located directly off Glenwood Ave, one of the busiest roadways in the Raleigh Triangle area.

OVERVIEW

Marcus & Millichap is pleased to present Crabtree Valley Multifamily Conversion located in Raleigh, North Carolina. The property encompasses 139 units across 4.9 acres, situated in the highly desirable Crabtree Valley area. The subject property includes four-unit types with a range of 260 SF to 600 SF. The projected average rent is $947 across all units. Raleigh, North Carolina, is part of the Research Triangle Park, known for its strong economy, high quality of life, and rapid population growth. The multifamily market in Raleigh has been dynamic, driven by factors such as job growth, migration patterns, and lifestyle preferences. Raleigh continues to attract new residents due to its robust job market, educational institutions, and favorable living conditions. The city’s population growth rate has been among the highest in the nation, contributing to increased demand for multifamily housing. Raleigh is home to several high-tech companies and research institutions, creating a stable job market. The city’s employment opportunities in technology, healthcare, education, and finance attract a diverse workforce. Rent growth in Raleigh has been steady, reflecting strong demand. Raleigh’s multifamily market has seen considerable interest from investors, both local and national. The market’s stability, combined with favorable economic indicators, makes it an attractive option for long-term investments.

FOR SALE DETAILS

PRICE

$11,120,000 USD

PRICE/SF

$189 USD /SF

# OF ROOMS

139

PRICE/ROOM

$80,000 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crabtree Valley Multifamily Conversion

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1997

PARKING SPACES

170

LAND DETAILS

LAND ACRES

4.9 AC

LAND SF

213,444 SF

ZONING

CX-3

APN/PARCEL ID

0796.13-03-7937-000

ASK ABOUT THIS PROPERTY

William GravesMarcus & MillichapMore Info
843-952-2267

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William GravesMarcus & MillichapMore Info
843-952-2267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.