306 S Allen RoadWake Forest, NC 27587

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.

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Last Updated

Nov 19, 2025

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