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Raleigh 27610 East Raleigh
3151 New Bern Avenue
$12,000,000
● Land - Off Market

3151 New Bern Avenue

Raleigh, NC 27610
bedrooms
Studio
bathrooms
0 Bath
$58,923
Est. Monthly

About This Property

This property has been rezoned by the City of Raleigh for CX-12-UG-CU (TOD). The zoning allows for a Residential Commercial mix development from 16 to 20 stories possible. Up to 928 units of condos, apartment and or hotel rooms. The City is underway for the first proposed BRT station at this location on New Bern Avenue. In addition to the 928 units, there is 70k square of office and 20k for commercial uses.
Unit Size
-
Days on Market
-
Land Size
4.89 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (TRIANGLE #2538929)

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 131,116
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 5
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: NEW BERN CROSSING
  • Land Acres: 0000003010
  • Standard Land Use Code: 8000
  • County Land Use Code: V
  • Legal Description 1: LO7 GR PT NEW BERN CROSSING PH2 BM2000-00233

Neighborhood

  • School District Name: Wake County Schools
  • Census Tract: 051900

Zoning

  • Zoning: CX-4

Geography

  • Account Number: 0060960
  • District: 01
  • Subdivision Phase Number: 2
  • Parcel: 1724.13-22-1587 0060960
  • Lot: 7
  • Municipality: RALEIGH
  • Latitude: 35.7897
  • Longitude: -78.588

    Address

  • Full Address: 3151 New Bern Ave
  • Address - House Number: 3151
  • Address - Street Name: New Bern
  • Address - Suffix Type: Ave
  • State: NC
  • City Name: Raleigh
  • Carrier Code: C043
  • 4-Digit Zip Code: 1216
  • Zip Code: 27610

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,286,248

    Market Valuation

  • Market Total Value: $1,180,044
  • Market Land Value: $1,180,044

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,180,044
  • Assessed Land Value: $1,180,044

    Sales

  • Current Sale Contract Date: Jan 14, 2000
  • Current Sale Recording Date: Feb 24, 2000
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Jan 14, 1997
  • Previous Sale Contract Date: Jan 14, 1997
  • Previous Sale Amount: $800,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

About East Raleigh

Stats & Trends

Median Asking:

$427,450

Sale Price/ft²

$299

Below Asking

0.04%

Average Days on Market

78

Average Home Size

1935 ft²

Average Home Age

35 years

Currently For Sale

57 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1308 Moton Place, Raleigh, NC, 27610

$2,950 /mo

  • 3 Beds
  • 2 Baths
  • 1,311 ft²
1308 Moton Place, Raleigh, NC, 27610 Listing by Samuel Byrnes
Unit for rent at 1600 Cross Street, Raleigh, NC, 27610

$1,350 /mo

  • 2 Beds
  • 1 Bath
  • 617 ft²
1600 Cross Street #1604, Raleigh, NC, 27610 Listing by Fara Pourshariati
Unit for rent at 1508 Malta Avenue, Raleigh, NC, 27610

$1,925 /mo

  • 3 Beds
  • 2 Baths
  • 918 ft²
1508 Malta Avenue, Raleigh, NC, 27610 Listing by Ekansh Bhatia

Rentals Near You

Click here to view more rentals in the neighborhood.
View Original Listing by Coldwell Banker Howard Perry and Walston (919) 789-5200
NGLE-2538929 Copyright © 2024 Triangle MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Listing Status: Active

Frequently Asked Questions

When was property at 3151 New Bern Avenue built and last sold?
The property at 3151 New Bern Avenue was built in and last sold on Jan 14, 2000 for $585,000.
How much is this home worth?
The estimated value of the home located at 3151 New Bern Avenue is $12,120,000.
What are some comparable homes to 3151 New Bern Avenue?
There are currently no comparable homes to 3151 New Bern Avenue.
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