$625,000

700 Glascock Street, Raleigh, NC 27604

  • 8 beds |
  • 2 baths |
  • 1,777 sqft
  • Property Icon Single-Family Home
  • Property Year Built Icon Built in 1950
  • Property Lot Size Icon9,583sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $352/sqft
  • Property List Date Icon Listed 22 hours ago

Property Description

Exceptional opportunity to acquire a cash-flowing asset in one of Raleigh's most desirable and rapidly evolving urban neighborhoods. Located at 700 Glascock Street, this income-producing property sits on a highly visible corner lot comprising approximately 0.22 acres and offers investors immediate returns alongside compelling long-term redevelopment potential. The property is zoned R-10 and positioned within one of Raleigh's most active redevelopment corridors. Surrounded by luxury new construction and high-end infill development, the site is ideally situated to benefit from continued neighborhood growth and increasing land values. Currently operating as an 8-room income-producing property generating approximately $62,700 in annual gross income ($5,225/month), the asset benefits from strong rental demand and flexible month-to-month occupancy agreements. The property has been well maintained and improved, with major updates already completed, including a new roof in 2023; HVAC systems installed in 2019; furnaces replaced in 2018 and 2019; a hot water heater installed in 2019; updated bathrooms and kitchen cabinetry in 2023; new windows installed in 2024 and 2025; new gutters in 2025; and fresh interior and exterior paint completed in 2025. Public water and sewer service, along with approximately 10 off-street parking spaces, further enhance the property's functionality and appeal. Beyond the property's income potential, the location offers the highly desirable lifestyle amenities driving demand throughout Downtown Raleigh's urban core. Residents are close to a growing collection of restaurants, retail destinations, and neighborhood gathering spots while enjoying convenient access to Oakwood Park, Big Cat Coffee, Gateway Plaza, area schools, greenway trails, and public transit. A nearby dog park and numerous recreational amenities further enhance the area's appeal. The combination of connectivity, and the city's sought-after "live, work, play" lifestyle makes this location particularly attractive to both tenants and long-term investors. Whether pursuing stable cash flow, a value-add investment strategy, land banking, or future redevelopment, 700 Glascock Street offers multiple paths to value creation in one of Raleigh's strongest growth markets. Opportunities combining current income, corner-lot positioning, and proximity to Downtown Raleigh are increasingly difficult to find.

Listing Status:
Active
Date Added:
June 16, 2026
Data Last Updated:
June 17, 2026 at 2:42AM
Listing Office:
Compass -- Cary : 919-769-1956
Listing Agent:
Lizzie Bender : 361-876-1134
MLS ID:
10174326
  • Appliances: Electric RangeRefrigeratorWasher/Dryer
  • Laundry: Common Area
  • Basement: Crawl SpaceUnfinished
  • Flooring: Luxury VinylTileWood
  • A/C: Central AirElectric
  • Heating: Heat PumpNone
  • Parking: Other
  • Roofing: Shingle
  • General: Unknown1Crawlspace
  • Road/Access: Paved
  • Originating MLS: Doorify MLS
  • County: Wake
  • Zoning: R-10Lo24 Capitol Hgts Sub Bm1945-00113171413230654000 0042639
  • Water: Public
  • Sewer: Public Sewer
  • Source: Doorify MLS

This listing courtesy of Lizzie Bender , Compass -- Cary

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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