Kyle Drive Assemblage — Sale in Raleigh, NC

  • Price: $695K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Raleigh, NC 27616

Description

Rare 1.21‑acre two‑parcel assemblage in a growing North Raleigh corridor just off Louisburg Road (US‑401). This listing includes 5621 Kyle Drive (PIN 1736166080) and 5615 Kyle Drive (PIN 1736156950). Currently zoned R‑10 and marketed with an active rezoning strategy toward higher‑density mixed‑use (NX/CX). Ideal for neighborhood retail, small commercial, townhomes, or mixed‑use redevelopment. Existing homes provide potential interim income while entitlement is pursued. Strong surrounding residential density and corridor growth make this a compelling infill opportunity. Land Size: 1.21 Ac | Listing Type: FOR SALE

Market Context

This multifamily in Raleigh, NC is listed for sale at $695,000. It has been on the market for 70 days. Compare it against other multifamily listings for sale in Raleigh, NC — view the full market.

As of Q1 2026, the Raleigh multifamily market showed average asking rents near $1028.00/unit/mo, rents up 5.4% year over year, and cap rates around 5.4%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Raleigh?
About 5.4% as of Q1 2026, per multiple brokerage reports.

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