Mixed-Use Live/Work
For Sale
$749,000
551 W Main St, Clayton, NC 27520
Two-level live/work building with residential space upstairs and a ready-for-commercial first floor, plus five on-site parking spaces.
Property Size4,360 SF
Price / SF$171.79
Days on Market42
Property Features for 551 W Main St
General Information
Standard status
Active
Size
4,360 SF
Total Parking Spaces
5
Zoning
SUP
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,684
Building Details
Stories
2
Listing Agency:
RE/MAX EXECUTIVE
(704) 707-6268
Listed By:
Jamie Purvis · License #283426
(704) 707-6268
Source:
Exprealty
Added: Jul 13
Changed: Aug 23
Last Checked: Aug 22 at 7:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX EXECUTIVE
Investment Insights
Based on property information with market context.
This mixed-use live/work building offers approximately 4,360 square feet across two levels. The upstairs portion includes residential space, while the downstairs level is set up for commercial use. The first floor provides approximately 2,600 square feet, and the second floor provides approximately 1,100 square feet, creating flexibility for owner-occupants or separate use of the two levels. The property has been well maintained, including a new roof installed in 2019, along with two new HVAC systems installed in August 2022 and August 2025.
Zoned SUP (Special Use Permit), the building is located on W. Main St. in Clayton, with strong road visibility and easy access to US 70 and NC 42. The surrounding area includes a mix of retail, dining, and service businesses, with downtown amenities close by. Five on-site parking spaces are available for visitors and tenants.
The versatile layout supports multiple ways to configure the space within the building’s live/work setup and SUP zoning framework.
Zoned SUP (Special Use Permit), the building is located on W. Main St. in Clayton, with strong road visibility and easy access to US 70 and NC 42. The surrounding area includes a mix of retail, dining, and service businesses, with downtown amenities close by. Five on-site parking spaces are available for visitors and tenants.
The versatile layout supports multiple ways to configure the space within the building’s live/work setup and SUP zoning framework.
Key Highlights
- Two‑level mixed‑use building with residential space upstairs and commercial‑ready first floor on W. Main St. in Clayton
- Approx. 4,360 sq. ft. total: approx. 2,600 sq. ft. first floor and approx. 1,100 sq. ft. second floor
- Zoned SUP (Special Use Permit) for mixed‑use/live‑work flexibility
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,928
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,338,560
$1.3M
Cap Rate 7%
$956,114
$956.1K
Cap Rate 9%
$743,644
$743.6K
Market Conditions
NOI Build-Up for 4,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$107.3K $24.60/SF
− Vacancy
−$18.0K −$4.13/SF
EGI
$89.2K $20.47/SF
− OpEx
−$22.3K −$5.12/SF
NOI
$66.9K $15.35/SF
Area
Johnston County, NC
Vacancy
16.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,338,560
Cap Rate 7%
$956,114
Cap Rate 9%
$743,644
Alternative Uses
Best Use
Office B
$956.1K
$836.6K – $1.12M
NOI $66,928 @ 7.0% cap · market cap 8.94%
Second Best
Mixed Use
$644.7K
$564.1K – $752.1K
NOI $45,126 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,330 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
Explore this area
Business Placement
Demographics for 27520, NC
46,478
Population
18,540
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
70.8 sq mi
ZIP Area
656
Density / Sq Mi
$84,545
Median Household Income
$45,147
Median Earnings
$1,430
Median Rent
$282,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Two-level live/work building with residential space upstairs and a ready-for-commercial first floor, plus five on-site parking spaces.
Where is this live-work space located?
The property is located at 551 W Main St Clayton, NC.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑level mixed‑use building with residential space upstairs and commercial‑ready first floor on W. Main St. in Clayton; Approx. 4,360 sq. ft. total: approx. 2,600 sq. ft. first floor and approx. 1,100 sq. ft. second floor; Zoned SUP (Special Use Permit) for mixed‑use/live‑work flexibility
