DisclaimeriMaps makes every effort to produce and publish the most current and accurate information possible.However, the maps are produced for information purposes,and are NOT surveys. No warranties, expressed or implied,are provided for the data therein, its use,or its interpretation.

0 450 900225 ft

1 inch = 200 feet

±

FOR SALE

WAKE FOREST RETAIL DEVELOPMENT OPPORTUNITY NC HWY. 98 & HERITAGE LAKE ROADWake Forest, NC 27587

www.cbre.us/raleighPart of the CBRE affiliate network

HERITA

GE LA

KE RO

AD

FUTURE MULTFAMILY DEVELOPMENT

FUTURE SINGLE FAMILY DEVELOPMENT

GATEWAY COMMONSSHOPPING CENTER

WAKE FOREST CHARTER ACADEMY

PROPERTY FEATURES

+ ± 1.54 acres (to be determined by final survey)

+ Zoned Conditional Use Residential Mixed Use (CU-RMX) (Town of Wake Forest ETJ)

+ Permitted uses include banks, business support services, dry cleaning, medical clinic, personal services, professional services, boutique hotel, general commercial, restaurant, indoor/outdoor recreation facility, child or adult day care, school, studio, etc. For more information on permitted uses, click here

+ Located in the Special Highway Overlay-2 District (SH2-O) establishing additional buffer and landscaping requirements

+ City of Raleigh water and sewer available

+ Proposed 330-unit future multifamily development adjacent to the property

+ Located adjacent to Gateway Commons, a 110,485 sq. ft. retail center anchored by Lowes Foods

+ $1,475,000 ($22.00/SF) sale price

FOR SALENC HWY. 98 & HERITAGE LAKE ROAD Wake Forest, NC 27587

PROPERTY DEMOGRAPHICS

1 Mile 3 Miles 5 Miles

2017 POPULATION 7,464 42,190 83,937

EST. POPULATION GROWTH RATE (2017-2022) 2.84% 3.09% 3.02%

2017 AVERAGE HOUSEHOLD INCOME $69,904 $88,828 $98,243

2017 MEDIAN HOUSEHOLD INCOME $51,432 $68,399 $77,139

2017 AVERAGE HOME VALUE $260,536 $297,154 $314,630

2017 MEDIAN HOME VALUE $224,763 $263,609 $277,478

NC HIGHWAY 98 @ MAIN STREET 22,000 VPD

FRIENDSHIP CHAPEL RD @ JONES DAIRY RD 8,000 VPD

TRAFFIC COUNTS

FOR SALENC HWY. 98 & HERITAGE LAKE ROAD Wake Forest, NC 27587

PROPOSED FUTURE MULTIFAMILY RESIDENTIAL LAYOUT

PROPERTY TOPOGRAPHY

DisclaimeriMaps makes every effort to produce and publish the most current and accurate information possible.However, the maps are produced for information purposes,and are NOT surveys. No warranties, expressed or implied,are provided for the data therein, its use,or its interpretation.

0 450 900225 ft

1 inch = 200 feet

±

FOR SALENC HWY. 98 & HERITAGE LAKE ROAD Wake Forest, NC 27587

© 2018 CB Richard Ellis - Raleigh LLC. The information contained in this document has been obtained from sources believed reliable. While CB Richard Ellis - Raleigh LLC does not doubt its accuracy, CB Richard Ellis - Raleigh LLC has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

www.cbre.us/raleigh

CONTACT US

CARLTON MIDYETTE, IIISenior Vice President+1 919 831 8199carlton.midyette@cbre-raleigh.com

Part of the CBRE affiliate network

NC HWY. 98 & HERITAGE LAKE ROAD