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FRANK QUINN | 919 582 3150 | frank.quinn@colliers.com JAMIE DAVIS | 919 582 3119 | jamie.davis@colliers.com

Mellowfield Drive & Meadowwood BoulevardRaleigh, NC

FOR SALE

1.65 ACRES - MULTIFAMILY LAND

FRED ANDERSON

NISSAN

HANNA IMPORTS

SOUTHERN STATES SUBARUSOUTHERN STATES MAZDA

SOUTHERN STATES HYUNDAITHOMPSON BUICKGMC CADILLAC

KIWANIS PARK &NEIGHBORHOOD

CENTER

JOYNER ELEMENTARY MAGNET SCHOOL

SIX FORMS OFFICE CENTER

FULLY LEASED

96.1% LEASED

Mellowfield Condos

Atlantic Place

Condos

Atlantic Place

Condos

Excellent Townhome/Condo SiteRaleigh continues to be ranked as one of the top best places

to live in the nation, drawing employers and an increasing workforce. Wake County alone is growing at an average of 63

people per day.

This property offers an excellent opportunity to build residential units “Inside the Beltline,” a much sought after location given its proximity to downtown Raleigh and the continually growing

Midtown Raleigh. The property is surrounded by apartment and condo communities with low to no vacancy.

Highlights > Attractive “Inside the Beltline” location

> Easy access to I-440, I-40 and US-1

> 5 minutes to Downtown Raleigh & Midtown Raleigh25 minutes to RDU International Airport & Research Triangle Park

15 minutes to Cary

> Surrounded by a rich mix of amenities including restaurants, retail, entertainment venues, hospital, and office parks

> Offers the work-play-live environment to future owners

communityOPPORTUNITYto be in the center of a vibrant

PHASE II

RETAINING WALL

2661 Mellowfield DrivePIN: 1715429776

REID: 0349930

Site Area: ±1.65 Acres

Price: $300,000

Zoning: CUD O&I-2

Water/Sewer: City of Raleigh

The Avenues Phase I & IITotal Units: 448 (150 in Phase II under construction)

Year Built: June 2015 (Phase II delivers Nov. 2016)

Occupancy: 100%

Average 3 Bed Rent: $1,658

Amenities: Hardwoods, Stainless Steel, Patio, Alarm, Lounge, Pool, Sundeck, Clubhouse, Grills

Jones Grant Urban FlatsTotal Units: 243

Year Built: April 2015

Occupancy: 100%

Average 2 Bed Rent: $1,501

Amenities: Elevator, Fitness Center, Storage, Pool, Sundeck, Lounge, Package Service

Manor Six ForksTotal Units: 298

Year Built: 2010

Occupancy: 96.1%

Average 3 Bed Rent: $1,789

Amenities: Fitness Center, Pool, Sundeck, Clubhouse, Tennis Court, On-Site Retail, Grills

Surrounding Multifamily Projects

Potential Site Plan

1 mile radius 3 mile radius 5 mile radiusTOTAL POPULATION

2016 Estimate 3,094 88,022 232,8882021 Projected 3,459 95,381 253,577

AVERAGE HOUSEHOLD INCOME2016 Estimate $63,764 $74,262 $74,2642021 Projected $70,338 $81,332 $81,107

TOTAL HOUSING UNITS2016 Owned/Rented 795 / 671 17,998 / 18,613 45,161 / 46,0292021 Owned/Rented 895 / 747 19,395 / 20,247 49,021 / 50,586

Source: ESRI, US Census Bureau

Frank Quinn919 582 3150frank.quinn@colliers.com

This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2016. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement.

COLLIERS INTERNATIONAL702 Oberlin Road, Ste 400Raleigh, NC 27605919 832 1110www.colliers.com/rdu

Contact Us

Demographics

populationGROWING

1,273,568 (Raleigh MSA 2015)

Jamie Davis919 582 3119jamie.davis@colliers.com