Property listing for 709 E Lenoir St, Unit 100, Raleigh, NC 27601
For SaleCondo

$445,000

709 E Lenoir St, Unit 100, Raleigh, NC 27601

Loft3 Modern 2BR/2BA Condo with Rooftop Skyline Views

2 Bed · 2 Bath · 1,026 Sq Ft

Contemporary downtown condo with premium finishes and rooftop terrace

2

Beds

2

Baths

1,026

Sq Ft

1952

Built

0.44 acres

Lot

1-car carport

Garage

About 709 E Lenoir St, Unit 100

At Loft3, smart design meets downtown energy. Unit 100 is a 2-bedroom, 2-bath residence occupying 1,026 square feet of carefully considered space in Raleigh’s South Central neighborhood. From the moment you step inside you notice construction that was specified for longevity — cold-formed steel framing — and premium hardware like Pella casement windows and an 8-foot sliding glass door that opens to a private balcony framing compact skyline views.

The open-plan living area centers on a modern kitchen finished with slab cabinetry, quartz countertops, stainless steel appliances, and a generously sized island with an integrated trash pull-out — ideal for casual entertaining or weekday dinners. Luxury vinyl plank flooring runs through the main living areas while the primary suite is arranged for comfort: a walk-through closet leads to a private bath appointed with a double vanity and a custom tile shower. The second bedroom and full bath provide flexible space for guests, a home office, or a hobby room.

Loft3 is a 21-unit collection designed for downtown lifestyles. Building amenities are thoughtful and urban-focused: a rooftop terrace with gas grill, fire pit, and lounge seating overlooks the city; secure lobby, elevator, and package room simplify daily comings and goings; indoor bike storage and ButterflyMX digital access cater to active, connected residents; and off-street parking includes a one-car carport with optional EV charging. HOA dues and condo governance will apply (current fee estimate: $250/month), and buyers should review association bylaws and parking arrangements.

Positioned less than a mile from Moore Square and City Market, this unit puts dining, nightlife, cultural venues, and the Raleigh Convention Center within easy reach. The project is offered by Grayson Homes, LLC and scheduled for completion in mid-2026, presenting an opportunity to secure new construction downtown. Comparable sales in the immediate area point to a mid-market value near $445,000, supported by strong rental demand (estimated rent roughly $2,200/month) for professionals seeking walkable access to downtown employers and entertainment.

Practical details matter: the property is delivered new, heat pump HVAC provides efficient heating and cooling, and the unit’s compact footprint is optimized for urban living. With downtown growth and limited condo inventory, Loft3 Unit 100 is positioned as a modern, durable, and amenity-forward option for buyers wanting a true Raleigh city address.

Home Highlights

New construction — anticipated mid-2026 completionRooftop terrace with skyline views, gas grill, and fire pitDurable cold-formed steel constructionPella casement windows and 8' sliding glass door to balconyQuartz counters, slab cabinetry, stainless appliancesPrimary suite with double vanity and custom tile shower1-car carport with optional EV chargingEstimated rent $2,200/month — strong rental demand

Property Features

Interior Features

  • 2 bedrooms, 2 bathrooms
  • 1,026 sq ft modern floor plan
  • Slab cabinetry and large kitchen island
  • Quartz countertops
  • Stainless steel appliances
  • Luxury vinyl plank flooring
  • Pella casement windows
  • Primary suite with walk-through closet
  • Double vanity and custom tile shower in primary bath

Exterior & Lot

  • Private balcony with downtown skyline views
  • Rooftop terrace with gas grill, fire pit and lounge seating
  • Cold-formed steel construction for enhanced durability
  • Secure lobby and elevator
  • Off-street parking with 1-car carport (EV charging optional)
  • Level lot, 0.44 acres total site

Location & Neighborhood

  • South Central / East Side of downtown Raleigh
  • Walking distance to Moore Square (0.5 mi) and City Market (0.6 mi)
  • Close to Red Hat Amphitheater and Raleigh Convention Center
  • Walkability Rating: ~75/100
  • Developer: Grayson Homes, LLC
  • Part of a 21-unit Loft3 condominium collection

Walkability & Recreation

  • Walkability Rating: 75/100 — Some errands and many amenities on foot
  • Nearby parks and green spaces (Moore Square, City Market)
  • Hiking and biking routes accessible via downtown greenways
  • Red Hat Amphitheater and performing arts venues within 1.2 miles
  • Running/walking paths and urban plazas for outdoor activity
  • Community rooftop terrace for social recreation

Neighborhood & Location

South Central (East Side) is one of Raleigh’s most active downtown neighborhoods, blending vintage blocks with new residential projects and walkable streets. Residents enjoy short walks to Moore Square and City Market, easy access to performing arts venues, and a compact urban grid filled with restaurants, coffee shops, and boutique retailers. Regular cultural programming at nearby plazas and seasonal events at the amphitheater create a lively calendar. With excellent transit connections and highly rated schools in the Wake County system, the area appeals to professionals, families, and investors seeking a connected downtown lifestyle.

Market Insights

Downtown Raleigh currently favors sellers — inventory sits near 2.5 months and average days on market is about 30 days. New-construction condos in the core are attracting steady interest from urban professionals and investors, driving a modest 5% appreciation over the past year and roughly 25% over five years. The immediate South Central corridor shows a median sale price around $450,000, with recent 2BR/2BA closings clustered between ~$440K and $550K depending on size and premium location. Condominiums like this one typically move faster than detached homes, benefiting from constrained supply and strong rental demand; Loft3’s estimated rent of about $2,200/month supports an attractive income profile for investors (gross yield ~5.9%).

That said, buyers should factor in timing and carrying costs: construction completion is projected for mid-2026 and HOA fees (currently estimated at $250/month) and limited parking (one carport) are important considerations. For owner-occupants seeking a downtown lifestyle and for investors targeting stable rental cashflow, current market dynamics make this a favorable window to secure new-construction inventory before additional supply is absorbed.

Nearby Schools

Hunter Elementary School

Elementary

8/10

Ligon Middle School

Middle

7/10

William G Enloe High School

High

7/10

Walkability & Recreation

75
Walkability
80
Recreation

Excellent downtown recreation access with Moore Square and City Market within a half-mile, cultural venues like Red Hat Amphitheater nearby, and urban greenways and plazas for walking, biking, and outdoor gatherings.

Investment Highlights

  • New construction with anticipated completion in mid-2026
  • Modern design with premium finishes and downtown skyline views
  • Comprehensive amenities including rooftop terrace and secure access
  • Located in rapidly growing downtown Raleigh with high walkability
  • Proximity to highly rated schools enhances family appeal

Key Findings

  • Assessed value of $396,731 (land) with annual taxes of $3,466
  • Zoned R-10 allowing residential and multi-family uses
  • Comparable sales in downtown Raleigh range from $430K to $460K
  • Average days on market in area: 30 days (seller's market)

Things to Consider

  • Construction completion anticipated in mid-2026; potential for delays
  • HOA fees of $250/month; buyers should review association bylaws
  • Limited parking with one carport space; additional parking may be needed

Opportunity Analysis

Modern condominium in downtown Raleigh offering premium amenities and strong appreciation potential in a growing market.

Potential Use Scenarios

  • Ideal for primary residence seeking urban lifestyle
  • Potential for rental income with estimated rent of $2,200/month
  • Long-term investment in appreciating downtown Raleigh market

Risk Factors

  • Construction timeline may extend beyond mid-2026
  • HOA fees and regulations require review
  • Limited parking may impact convenience for residents

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$430K

Midpoint

$445K

High

$460K

$434/SF estimated price per square foot

85% confidence

Sales comparison approach using recent condo sales in downtown Raleigh. Adjusted for new construction premium and amenities. Income approach supports estimated rent of $2,200/month (GRM of ~20x).

As of 2026-03-07

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$450,000
Avg Days on Market30 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)15,000
Median Income (1 mi)$65,000

Downtown Raleigh experiencing significant residential and commercial growth. Walkability Rating estimate: 75/100.

Nearby Points of Interest

  • Moore Square (0.5 mi)
  • City Market (0.6 mi)
  • Red Hat Amphitheater (1.2 mi)
  • Raleigh Convention Center (1.1 mi)
  • Duke Energy Center for the Performing Arts (0.9 mi)

Walking distance to downtown Raleigh's dining, shopping, and entertainment venues. Proximity to parks and cultural centers enhances lifestyle appeal.

School District

DistrictWake County Public School System
ElementaryHunter Elementary School (8/10)
MiddleLigon Middle School (7/10)
HighWilliam G Enloe High School (7/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built1952
Constructioncold-formed steel
Stories1
Roofflat
Heatingheat pump
Coolingheat pump
Basementnone
FireplaceNo
Conditionnew

Lot & Site

Lot Size0.44 acres (19,166.4 SF)
Topographylevel
Parkingcarport
Parking Spaces1
FrontageFrontage on E Lenoir St

Utilities

Waterpublic
Sewerpublic
Electricavailable
Gasavailable

Zoning & Land Use

Zoning CodeR-10
DescriptionResidential-10
JurisdictionCity of Raleigh

Allowed Uses

residentialmulti family
Current Useresidential
Assessor UseCondominium

Tax & Sale History

Tax Assessment

Total Assessed$396,731
Land$396,731
Improvements$0
Annual Tax (2024)$3,466

Sale History

2023-09-29$650,000

$633/SF

Purchase of existing structure for redevelopment

Find a Local Agent

Looking to buy or sell? Connect with a licensed local agent who knows this area.

Request a Showing

Your inquiry will be connected with a licensed local real estate professional through our brokerage partner.

Are You a Local Agent?

No agency is currently featured for this market. Join the CompCasa Local Partner Program to get your brokerage placed on property pages like this one.

Learn About the Partner Program

CompCasa is a marketing and technology platform. All brokerage services are provided by licensed partners.