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.
Sold for $800,000 on 08/18/25
$800,000
124 E Cabarrus St, Raleigh, NC 27601
--beds
--baths
3,920.4Square Feet
Unimproved Land, Land
Built in ----
3,920.4 Square Feet Lot
$-- Zestimate®
$--/sqft
$1,723 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: August 20, 2025 at 07:24am
Listed by:
Meredith Mclaurin Little 919-757-2175,
Hodge & Kittrell Sotheby's Int
Bought with:
Non Member
Non Member Office
Source: Doorify MLS,MLS#: 10071291

Facts & features
Property
Features
- Has view: Yes
Lot
- Size: 3,920 sqft
- Dimensions: 56.42ft x 78.06ft x 58.49ft x 79.06ft
Details
- Parcel number: 1703765810
- Special conditions: Standard
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available
Community & neighborhood
Location
- Region: Raleigh
- Subdivision: Not in a Subdivision
Other
Other facts
- Road surface type: Alley Paved, Asphalt, Concrete