615 New Bern Avenue
Raleigh, NC 27601Strategically positioned along one of Raleigh's most actively evolving urban corridors, this prominent OX-3 zoned corner property offers a rare opportunity to acquire a four-unit structure with exceptional mixed-use redevelopment, adaptive reuse, office conversion, residential repositioning, or future infill construction potential just minutes from Downtown Raleigh. Existing improvements require substantial rehabilitation and the property is being sold as-is, creating an ideal canvas for investors, developers, and visionary buyers seeking a high-visibility asset with multiple long-term value creation paths. The property is further strengthened by immediate adjacency to recently completed new home and condominium development and sits directly within the trajectory of significant public and private corridor investment, including New Bern Avenue Bus Rapid Transit infrastructure, expanding transit-oriented development momentum, rising multifamily and mixed-use demand, and increasing institutional growth connecting Downtown Raleigh, WakeMed, workforce housing nodes, and surrounding commercial services. With strong corridor presence, strategic downtown proximity, and continued redevelopment pressure throughout the surrounding area, this site represents a compelling opportunity to capitalize on one of Raleigh's emerging gateway growth corridors. Buyer to verify all intended uses with City of Raleigh. See photos of early plans of potential four-unit townhome building not yet city approved.
$425,000
bedrooms
full bathrooms
0.11 acres
2,129 square feet
$200 per square foot
- Exterior Features
- Interior Features
- Property Features
- Construction Materials Vinyl Siding
- Lot Size Acres 0.11
- Structure Type Multi Family, Site Built
- Cooling Multi Units
- Cooling Y/N Yes
- Flooring Hardwood, Other
- Heating See Remarks
- Lot Features City Lot, Corner Lot, Near Public Transit, Rectangular Lot
- Tax Annual Amount 5030.8
- Water Source Public
- Year Built 1983
Additional Property Information
- TypeMixed Use
- Built1983
- NeighborhoodNot in a Subdivision
- CountyWake
- AreaRaleigh
- Elementary School
- Middle School
- High School
Listing courtesy of Redfin Corporation. © 2026 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
Property location
Monthly payment calculator
Find your amountSchedule a Tour
Ready for a tour of this house? You can either schedule an in-person walkthrough, or one of our agents can take you on a virtual tour via video call.
Similar Properties
©2026 Triangle MLS, Inc. of North Carolina. All rights reserved. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Data last updated 2026-06-15T21:22:32.000Z.