NOT LISTED FOR SALE

124 E Cabarrus St Raleigh, NC 27601

Capital District Neighborhood

Estimated Value: $787,000

0.09 Acres
$8,744,444 Price per Acre
3,920 Sq Ft Lot

Sale Details

Date Sold: August 18, 2025

Last sale price $800,000

Est. 2% decrease in value since last sale

Current estimated payment $5,025 / mo

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 Sothebys INTE License #322608 Listed on: 01/16/2025

Hodge & Kittrell Sothebys INTE

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

3,920 Sq Ft Lot

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 16, 2025
Closed on
Aug 18, 2025
Sold by
Bought by
Seller's Agent
Meredith Little
Hodge & Kittrell Sothebys INTE
Buyer's Agent
Non Member
Non Member Office
List Price
$1,200,000
Sold Price
$800,000
Premium/Discount to List
-$400,000
-33.33%
Views
10
Current Estimated Value
$787,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$13,000
Avg. Annual Appreciation
-1.98%
Original Mortgage
$850,000
Outstanding Balance
$849,257
Interest Rate
6.67%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$62,257

Purchase Details

Closed on
Apr 25, 2025
Sold by
Bought by

Purchase Details

Closed on
Oct 31, 2003
Sold by
Bought by

Purchase Details

Closed on
Jan 26, 2001
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$800,000 None Listed On Document
-- None Listed On Document
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $850,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $9,397 $999,600 $999,600 --
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 Sothebys INTE

    (919) 757-2175

    2 in this area

    39 Total Sales

    Meredith Little
    Section Image

  • N

    Buyer's Agent in 2025

    Non Member

    Non Member Office

See All Agents

Map

Source: Doorify MLS

MLS Number: 10071291

Doorify MLS

APN: 1703.43-76-5810-000

North Carolina Wake County Raleigh 27601 Capital District

124 E Cabarrus St, Raleigh, NC

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Doorify MLS Some IDX listings have been excluded from this IDX display. 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 Doorify MLS, Inc. of North Carolina, Internet Data Exchange Database. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Copyright 2026 Doorify MLS, Inc. of North Carolina. All rights reserved.

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