We are pleased to present the exclusive opportunity to acquire Main Street Townhomes, a 0.929-acre entitled townhome development site located at 509 S Main St in Lexington, North Carolina, offered for sale via auction. The site holds City of Lexington approved civil construction drawings for 10 townhome units, allowing a buyer to bypass the time and cost of site design and engineering.
The civil construction drawings were approved for construction by the City of Lexington Technical Review Committee and include an 18-sheet set covering the site survey, demolition, site layout, fire apparatus access, grading, storm drainage, utilities, and landscaping. The approved plan delivers 10 townhome units at a density of 10.76 units per acre with 28 parking spaces against 10 required, a new driveway from S Salisbury St, a dumpster enclosure, and a new public fire hydrant. Water and sewer services are engineered to connect to City of Lexington mains in S Salisbury St, and the site sits in FEMA Flood Zone X. A clean Phase I Environmental Site Assessment completed in May 2022 identified no on-site environmental concerns and recommended no further on-site assessment.
Zoned Business (B), the site has frontage on both S Main St and S Salisbury St in central downtown Lexington, between Advance Auto Parts and AutoZone and across S Salisbury St from Bull City Ciderworks and Goose & the Monkey Brewhouse in the Depot District, with City Fitness next door on S Salisbury St. Neighboring businesses along S Main St include First National Bank, KFC, Tasty China, Compare Foods, Rogers Country Market, and Thai House Bistro, and Uptown Main Street shops and restaurants are a short walk away, with CVS Pharmacy and Food Lion a short drive away.
The site sits beside Lexington’s active Depot District revitalization. The City’s $25 million federally funded passenger rail project, which includes two new boarding platforms, renovation of the historic freight depot as a passenger station, and a new vehicle tunnel at Fifth Avenue, is scheduled for completion no later than October 2028. New residential investment is following, led by Edgewood Lofts, the redevelopment of the former Edgewood Apparel factory into up to 120 apartments across nearly three acres next to the rail line, giving Main Street Townhomes a townhome alternative to the apartment product entering downtown.
Lexington is the county seat of Davidson County in North Carolina’s Piedmont Triad, with direct access to I-85 and to Winston-Salem via I-285. Davidson County’s population has grown 10.2% over the past decade to an estimated 180,182 residents, Lexington’s average home value has risen 4.9% over the past year to $275,047 according to Zillow’s July 2026 index, and industrial investment continues to add jobs, led by Nucor’s $350 million Lexington rebar micro mill and US Foods’ 220,000 SF expansion. This is a rare opportunity to acquire an approved infill townhome site with civil engineering complete in a growing Piedmont Triad market.
