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$800,000
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Property Description
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.
Full Property Details
Full Property Details for 124 E Cabarrus St
General
- Sold For: $800,000
- Taxes: $8,681
- Status: Closed
- Type: Lots/Land
- Source: 2218
- MLS ID: 10071291
- Added to Site: 364 day(s) ago
Rental Information
- Lease/Rent Term: Month To Month
Location
- County: Wake
- Subdivision: Not in a Subdivision
- Driving Directions: From I-40, take exit 99 for Hammond and Person St. Take a left at the exit ramp towards Person St/ downtown Raleigh. In .7 miles, take a left on Cabarrus St. Property will be on the left, adjacent to The Lincoln Theatre.
- City Limits: Yes
School Information
- Elementary School: Wake County Schools
- Middle School: Wake County Schools
- High School: Wake County Schools
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Available
Lot Features
- Lot Size (Acres): 0.09
- Lot Size (Sq. Ft.): 3,920.4
- Lot Dimensions: 56.42ft x 78.06ft x 58.49ft x 79.06ft
- Frontage: City Street
- Street/Road Desc.: Alley Paved, Asphalt, Concrete
Financial Considerations
- Price Per Acre: $9,333,333.33
- Tax Amount: $8,681.53
Disclosures and Reports
- Special Conditions: Standard
- Property ID: 1703765810
Listed by Hodge & Kittrell Sotheby's Int, Meredith Mclaurin Little (919) 757-2175
Sold by Non Member Office, Non Member
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Schools
Schools serving 124 E Cabarrus St
School District:Wake County Schools
| Name | Grades | Distance |
|---|---|---|
Joyner Elementary 2300 Lowden Street, Raleigh, NC 27608 | PK-5 | 2.8 mi |
Moore Square Museum Magnet Mid 301 South Person Street, Raleigh, NC 27601 | 6-8 | 0.2 mi |
Needham Broughton High 723 Saint Marys Street, Raleigh, NC 27605 | 9-12 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 124 E Cabarrus St
Date
Details
Price
Change
Source
8/18/2025
Sold
$800,000
-4.76%
MLS
2/28/2025
Price Reduced
$840,000
-30%
MLS
1/16/2025
Listed
$1,200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
124 E Cabarrus Street, Raleigh, NC 27601 (MLS# 10071291) is a Lots/Land property that was sold at $800,000 on August 18, 2025. Want to learn more about 124 E Cabarrus Street? Do you have questions about finding other Lots/Land real estate for sale in Raleigh? You can browse all Raleigh real estate or contact a Coldwell Banker agent to request more information.

