Downtown Raleigh Property in High Demand Area Sold on West Davie Street
A Downtown Raleigh property in the high demand 200-300 blocks of West Davie Street has been sold. 220 West Davie Street features a 5,126 square foot building that was built in 1950 on 0.17 acres located on the edge of the Warehouse District between Nash Square and Red Hat Amphitheater. It previously housed Mort’s Trophy Shop and sold for $347.70/SF. TradeMark Properties Senior Vice President Sandra Simpson represented the owner in the sale of the property.
The property is within easy walking distance to nearby retail, music, hospitality, and green space.
“This property is located in an area that is booming with new development activity that includes multifamily, hotel, office, and retail,” said Simpson. “It is one of the few remaining opportunities to develop a new space in Downtown Raleigh with plenty of existing parking readily available in the Davie Street Public Parking Deck right across the street.”
On the west side of the property is a planned mixed-use development with 494 residential units and 252,716 square feet of office space. On the east side is a dual-brand Hilton Garden Inn and Homewood Suites currently under construction. To the north is the proposed Raymond Hotel group, which will face Nash Square.