306 S Allen Rd
Wake Forest, NC
Prime Downtown Wake Forest Redevelopment Opportunity – Approved Senior Housing Project
For Sale – Reduced by $150,000 to $1.35 Million
Presenting 306 S. Allen Road, a 2.74-acre parcel in the heart of Downtown Wake Forest. This site is already zoned and site-plan approved for a 31-unit senior apartment building totaling 23,438 square feet.
The property is ideally located with easy access to major highways and direct connectivity to Raleigh via US 1/Capital Boulevard, making it convenient for residents and visitors alike.
Demographics within a 10-mile radius:
- Total population: 271,184 residents
- Ages 62–64: 35,609 residents
- Ages 65 and older: 42,571 residents
This property represents an excellent investment opportunity in one of Raleigh’s most popular and growing suburbs. While the site needs redevelopment work, the seller is open to joint-redevelopment discussions, offering flexibility for developers and investors alike.
Note: 100% of the dwelling units must be designated for residents 62 years and older.
Highlights:
- 2.74 acres in Downtown Wake Forest
- 23,438 sq ft site-plan-approved development
- Zoned for 31 senior apartment units
- Easy access to US 1/Capital Blvd
Seller open to joint-redevelopment discussions.
A rare approved opportunity in a thriving downtown location with strong senior housing demand.