Pickett Sprouse Commercial Real Estate Facilitates Sale
A 76-acre property in a prime location near Knightdale is set to become a new single-family neighborhood, adding more housing to a fast-growing part of eastern Wake County. The site at 5805 Grasshopper Road in Raleigh sold yesterday for $2.8 million and is located just off the outer loop. Pickett Sprouse Commercial Real Estate broker Vernon Averett, CCIM represented the seller in the transaction.
The property sits adjacent to the Rockbridge subdivision and near the intersection of I-540 and I-87/U.S. 64, providing convenient access to Raleigh and surrounding parts of Wake County. The location has continued to attract residential interest as road improvements have made the area easier to reach for commuters and families.
The buyer plans to develop a single-family neighborhood with approximately 120 homes on 10,000 square-foot lots. The development will use private water and sewer, and initial subdivision plans are currently being submitted to Wake County.
“This property stood out because it combines location, size, and long-term potential,” said Vernon Averett. “It’s not often you see a tract of this size in Wake County that works well for residential use and is still so close to Raleigh. That made it a good fit for the buyer’s plans for a well-designed neighborhood.”
The sale reflects continued demand for residential development land in eastern Wake County, particularly in areas where new neighborhoods can be developed alongside established communities.