Crabtree North is a 168-unit entitled multifamily development opportunity on +/- 5.19 acres in the heart of Raleigh's booming Crabtree corridor. The site is fully designed and entitled for 168 units with a wrap deck and is ready for GC bids. There are no remaining off-sites, except a minimal sewer line extension. The site includes +/- 3.91 usable acres, with the remaining +/- 1.28-acre BMP site convertible for future development. Currently, the site has 51 vintage units that are 98% occupied and have enjoyed a $210,378 trailing 12 NOI (December 2019-2020).
- Fully designed & entitled for 168 multifamily units
- Cash-flowing vintage units that are 98% leased
- Across from Crabtree Valley Super Regional Mall
- No. 1 – Homebuilding prospects 2021 (ULI)
- No. 1 – Overall real estate prospects 2021 (ULI)