$800,000
SOLD AUG 18, 2025

124 E Cabarrus St Raleigh, NC 27601

0.09 Acre
$8,888,889 Price per Acre
3,920 Sq Ft Lot

Recently Sold

33% Below List Price

50 Days on Market

About This Lot

As of August 2025

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.

Last Agent to Sell the Property

Meredith Little

Hodge & Kittrell Sotheby's Int License #322608 Listed on: 01/16/2025

Hodge & Kittrell Sotheby's Int

Last Buyer's Agent

Non Member

Non Member Office

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $8,682

Lot Details

  • 3,920 Sq Ft Lot
  • Cleared Lot

Schools

  • Wake County Schools Elementary And Middle School
  • Wake County Schools High School

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 1703765810

Property Details

Property Type

Land

Est. Annual Taxes

$8,682

Lot Details

0

Listing Details

  • Prop. Type: Land
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Asphalt, Concrete
  • Subdivision Name: Not in a Subdivision
  • General Property Information Lot Size Dimensions: 56.42ft x 78.06ft x 58.49ft x79.06ft
  • Sewer:Public Sewer: Yes
  • Water Source Public: Yes
  • Utilities Electricity Available: Yes
  • Contract Information Lease Term: Month To Month
  • Vegetation Cleared2: Yes
  • General Property Information Lot Size Square Feet2: 3920.0
  • General Property Information Lot Size Acres: 0.09
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Acres: 0.09

Utilities

  • Utilities: Electricity Available
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Ninth Grade High School: Wake County Schools
  • Middle Or Junior School: Wake County Schools

Lot Info

  • Lot Dimensions: 56.42ft x 78.06ft x 58.49ft x79.06ft
  • Lot Size Sq Ft: 3920.0
  • ResoLotSizeUnits: Acres
  • Parcel #: 1703765810

Rental Info

  • Lease Term: Month To Month

Tax Info

  • Tax Annual Amount: 8681.53
  • Tax Year: 2024

MLS Schools

  • Elementary School: Wake County Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 31, 2003
Sold by
Tomb Robert M
Bought by
Tomb Robert M and Tomb Norfleet Stronach

Purchase Details

Closed on
Jan 26, 2001
Sold by
Tomb Mary Frances S
Bought by
Mary Frances S Tomb Revocable Mgmt Trust
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- --
Deed -- --
Gift Deed -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/18/2025 08/18/25 Sold $800,000 -4.8% --
03/07/2025 03/07/25 Pending -- -- --
02/28/2025 02/28/25 Price Changed $840,000 -30.0% --
01/16/2025 01/16/25 For Sale $1,200,000 -- --
Source: Doorify MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $9,361 $999,600 $999,600 $0
2023 $5,955 $509,600 $509,600 $0
2022 $5,560 $509,600 $509,600 $0
2021 $5,183 $509,600 $509,600 $0
2020 $5,092 $509,600 $509,600 $0
2019 $7,177 $587,412 $587,412 $0
2018 $6,788 $587,412 $587,412 $0
2017 $6,480 $587,412 $587,412 $0
2016 $6,354 $587,412 $587,412 $0
2015 $1,310 $117,600 $117,600 $0
2014 $1,247 $117,600 $117,600 $0
Source: Public Records

Agents Affiliated with this Home

  • Meredith Little

    Seller's Agent in 2025

    Meredith Little

    Hodge & Kittrell Sotheby's Int

    (919) 876-7411

    36 Total Sales

    Meredith Little
    Section Image

  • N

    Buyer's Agent in 2025

    Non Member

    Non Member Office

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Map

Source: Doorify MLS

MLS Number: 10071291

Doorify MLS

APN: 1703.43-76-5810-000

North Carolina Wake County Raleigh 27601

124 E Cabarrus St, Raleigh, NC

This home is located at 124 E Cabarrus St, Raleigh, NC 27601 and is currently priced at $800,000. 124 E Cabarrus St is a home located in Wake County with nearby schools including Root Elementary School, Moore Square Museum Magnet Middle School, and Broughton Magnet High School.

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