124 E Cabarrus St Raleigh, NC 27601
Estimated payment $5,411/month
About This Lot
OFFERS RECEIVED- Deadline is 12pm March 7 for submissions.
Rare Find: Income-Generating Downtown Parking Lot Adjacent to the Historic Lincoln Theatre
This exceptional property presents a unique opportunity for developers and investors seeking a prime foothold in the heart of Raleigh's vibrant Central Business District.
Situated on a highly visible corner lot at 124 E. Cabarrus St., this .09 acre property enjoys immediate proximity to the renowned Lincoln Theatre, a cultural landmark. Currently operating as a successful parking lot with a management lease, the property generates consistent income while offering significant upside potential.
Property Details
Property Type
- Land
Est. Annual Taxes
- $8,682
Lot Details
- 3,920 Sq Ft Lot
- Cleared Lot
Schools
- Wake County Schools Elementary And Middle School
- Wake County Schools High School
Community Details
- No Home Owners Association
Listing and Financial Details
- Assessor Parcel Number 1703765810
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $9,361 | $999,600 | $999,600 | $0 |
| 2023 | $5,955 | $509,600 | $509,600 | $0 |
| 2022 | $5,560 | $509,600 | $509,600 | $0 |
| 2021 | $5,183 | $509,600 | $509,600 | $0 |
| 2020 | $5,092 | $509,600 | $509,600 | $0 |
| 2019 | $7,177 | $587,412 | $587,412 | $0 |
| 2018 | $6,788 | $587,412 | $587,412 | $0 |
| 2017 | $6,480 | $587,412 | $587,412 | $0 |
| 2016 | $6,354 | $587,412 | $587,412 | $0 |
| 2015 | $1,310 | $117,600 | $117,600 | $0 |
| 2014 | $1,247 | $117,600 | $117,600 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/07/2025 03/07/25 | Pending | -- | -- | -- |
| 02/28/2025 02/28/25 | Price Changed | $840,000 | -30.0% | -- |
| 01/16/2025 01/16/25 | For Sale | $1,200,000 | -- | -- |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | -- | |
| Deed | -- | -- | |
| Gift Deed | -- | -- |
Source: Doorify MLS
MLS Number: 10071291
APN: 1703.43-76-5810-000
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