14-Unit Townhome
3712 Mineral Mill, Raleigh, NC 27616
For Sale
$5,650,000
Residential Income, Raleigh, NC
Property Size28,224 SF
Price / SF$200.18
Days on Market228
Property Features for 3712 Mineral Mill
General Information
Property type
Property subtype
Property condition
Zoning
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Vegetation
Patio and Porch features
Interior features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
HOA Fee
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Additional Structures
Listing Agency:
Compass -- Raleigh
(919) 726-6548
Listed By:
Johnny Chappell · License NC #267248
(919) 737-2247
Added: Apr 1
Changed: Oct 29
Last Checked: Nov 14 at 12:06AM
MLS# 10156846
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This apartment community comprises 14 newly constructed townhomes, each arranged across three levels with three bedrooms, a flexible loft, open living areas, and a private deck. Second-floor laundry, storage, a primary suite, and a one-car garage add practical features. Construction is underway, with a 2026 year built reported. Three residences are leased through summer 2027.
The property is near I-540, with access to Downtown Raleigh, RTP, shopping, dining, and nearby greenways. R-4 zoning is reported for the site.
Adjacent land may be included and could accommodate an amenity area, guest parking, or expansion by up to four units.
The property is near I-540, with access to Downtown Raleigh, RTP, shopping, dining, and nearby greenways. R-4 zoning is reported for the site.
Adjacent land may be included and could accommodate an amenity area, guest parking, or expansion by up to four units.
Key Highlights
- 14 newly constructed townhomes, each with three bedrooms and a flexible loft
- Three residences leased through summer 2027
- Three‑level layouts include a private deck, second‑floor laundry, storage, and a one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$288,918
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,778,360
$5.8M
Cap Rate 7%
$4,127,400
$4.1M
Cap Rate 9%
$3,210,200
$3.2M
Market Conditions
NOI Build-Up for 28,224 SF
Gross rent
$558.8K $19.80/SF
− Vacancy
−$33.5K −$1.19/SF
EGI
$525.3K $18.61/SF
− OpEx
−$236.4K −$8.38/SF
NOI
$288.9K $10.24/SF
Area
ZIP 27616
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,778,360
Cap Rate 7%
$4,127,400
Cap Rate 9%
$3,210,200
Alternative Uses
Best Use
Apartment 5plus
$4.13M
$3.61M – $4.82M
NOI $288,918 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.06M
$7.05M – $9.40M
NOI $564,106 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
14
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-level residences combine open living areas with private decks, garages, and flexible loft space.
Where is this apartment building located?
The property is located at 3712 Mineral Mill Raleigh, NC.
What is the asking price?
The asking price for this property is $5,650,000.
What are key features of this property?
This property features: 14 newly constructed townhomes, each with three bedrooms and a flexible loft; Three residences leased through summer 2027; Three‑level layouts include a private deck, second‑floor laundry, storage, and a one‑car garage
