Updated Oct 7, 2026
Roers Cos Buys 17.6 Acres At 3027 Rock Quarry Road For $9 Million From Treasuring Christ Church
3027 Rock Quarry Road
$9,000,000
Building Size
—
Asset Type
Land
Closing
Oct 7, 2026
About this deal
AI
The transaction involved a land asset measuring 17.6 acres located at 3027 Rock Quarry Road in Raleigh, NC. The property was sold for $9,000,000 and will be used for a planned multifamily development project.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $9,000,000
- Buyer: Brian Roers & Kent Roers - Roers Cos
- Seller: Treasuring Christ Church
- Project Value: $92 million
- Units Planned: 282 affordable apartments
- Four-bedroom Units: 32
- Site Work Start: November 2026
- Completion Expected: Late 2028
Brian Roers and Kent Roers represent Roers Cos in the acquisition of the land from Treasuring Christ Church. This deal is part of an initiative to develop affordable housing in Southeast Raleigh, highlighting the commitment of Roers Cos to this community project.
On the Map
$9,000,000
Land
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93