Downtown Development Opportunity

Downtown Development Opportunity

432 S McDowell St, Raleigh, NC
424 S McDowell St, Raleigh, NC
216 W Cabarrus St, Raleigh, NC

CityPlat is pleased to present a development opportunity in the heart of downtown Raleigh. This site is in a prime location across from the Convention Center and Red Hat Amphitheater and also boasts beautiful views of the city. This development is ideal for any office, hotel or apartment development due its location, access to parking and surrounding amenities.

The sale consists of two lots plus air rights, totaling 0.58 acres. It is zoned for 20 stories. Conceptual plans show possibilities for 3,500 SF of retail space with a 28-unit parking garage and 30,000 SF of office (2nd & 3rd story) with 204 residential units (4-20 stories). The air right above the entrance of the county parking deck can expand building floorplates for stories 3-20 by an additional ~7,400 SF/floor. With additional parking available for purchase or lease from the adjoining Wake County parking deck accommodating 900+ spaces, plus the McLaurin garage across the street, parking is plentiful in order to support any development.

Raleigh accolades site awards such as #1 among best places for business and careers, #3 among the 10 fastest growing cities, #1 among the U.S. cities attracting the most families, and more.

Key Offering Highlights

  • In the heart of Downtown across from Convention Center
  • Zoned for 20 stories (DX-20-SH)
  • 432 S McDowell St, Raleigh, NC – fee simple (0.1 acres)
  • 424 S McDowell St, Raleigh, NC – fee simple (.31 acres)
  • 216 W Cabarrus St, Raleigh, NC – air rights (.17 acres)
  • Additional parking can be available for purchase or lease from adjoining
    Wake County’s parking deck that accommodates 900+ spaces
  • $3,950,000