421 Pearce Avenue,Wake Forest, NC 27587
Wake Forest, NC 27587
Description
Downtown Wake Forest Investment and/or Redevelopment Opportunity Offered in conjunction with 425 Pearce Avenue (MLS# 10142426) and 417 Pearce Avenue (MLS# 10142424) for a combined purchase price of $1,135,000, this exceptional investment package presents a unique opportunity in the heart of downtown Wake Forest. The offering includes three parcels totaling approximately 1.67 acres, featuring two fully leased duplexes and one tenant-occupied single-family home, providing immediate rental income with significant long-term upside. Zoned UR (Urban Residential), the properties offer outstanding redevelopment and expansion potential in one of Wake Forest's fastest-growing and most desirable locations. This single-family home fronts Pearce Avenue and is currently leased, making it an income-producing asset today with excellent potential for future redevelopment as a standalone parcel or in combination with the adjacent duplex properties. Just a few blocks from the vibrant downtown district, the property is within close proximity of local restaurants, shopping, parks, and community amenities. With strong existing cash flow, flexible Urban Residential zoning, and a premier location in downtown Wake Forest, this is a great opportunity for investors and developers seeking both immediate returns and future growth potential. There is no working heat pump or hvac system at this house. House is being sold AS-IS
Details
| MLS # | 10178234 |
|---|---|
| Listing Type | For Lease |
| Status | Active |
| Year | 1901 |
| Days On Site | 48 |
| Listing Provided By | Coldwell Banker Advantage | Melissa Gordon |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,482 |
| Story(s) | 1 |
| Zoning | UR |
| Acreage | 0.28 |
Interior
| Heating Yes / No | No |
|---|---|
| Cooling Yes / No | Yes |
| Cooling | Window Unit(s) |
Exterior
| Roof | Metal |
|---|---|
| Foundation Details | Crawlspace |
| Construction Materials | Vinyl Siding |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | Open |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Assessed Value | 174676 |
|---|---|
| Tax Legal Description | Lo1 Brookview Sub Bm2001-00333 |
| Tax Year | 2025 |
| Tax Map Number | 1 |
Area Information
| State | NC |
|---|---|
| County | Wake |
| City | Wake Forest |
| Zip Code | 27587 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Wake Forest High School |
| Elementary School | Wake - Heritage Elementary |
| High School | Wake - Wake Forest High School |
| Listing VS Median (in Not in a Subdivision) | |
Price: $175,000 low | high Med: $319,900 sqft: 1,482 low | high Med: 1,271 $ / sqft: $118 low | high Med: $252 On site: 48 low | high Med: 114 | |
Market Activity 27587
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Learn More About This Property
| State | NC |
|---|---|
| County | Wake |
| City | Wake Forest |
| Zip Code | 27587 |
| Area | Wake |
| Community Name | Not in a Subdivision |
| School District | Wake - Wake Forest High School |
| Elementary School | Wake - Heritage Elementary |
| High School | Wake - Wake Forest High School |
| Listing VS Median (in Not in a Subdivision) | |
Price: $175,000 low | high Med: $319,900 sqft: 1,482 low | high Med: 1,271 $ / sqft: $118 low | high Med: $252 On site: 48 low | high Med: 114 | |
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