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Property profile & analytics
FOR LEASE
Garden apartment buildings
190 Mill St Clayton, NC 27520
Entity Owned
Free & Clear
Property ID
US53-3411382
For Lease
1 / 14
$2,000/Mo
190 Mill St, Clayton, NC 27520
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Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1920
Total area
49,451 SF
Lot
4.93 ac (214,751 SF)
Zoning code
COM
APN
05037009Y
UPID
US53-3411382
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.80M
Owner & transaction history
SPINNING MILL INVESTMENTS, LLC
SPINNING MILL INVESTMENTS, LLC
Zoning & alternative use
COM · St, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.9M
+101.3%
Auto repair, garage
$5.1M
+72.1%
Commercial (general)
$5.1M
+71.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Clayton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clayton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,945,000
Current use
RESTAURANT
$5,930,000
Change: +101% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,065,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,050,000
Change: +72% · Conversion: Moderate
MEDICAL BUILDING
$3,505,000
Change: +19% · Conversion: Moderate
RETAIL STORES
$3,345,000
Change: +14% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,160,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$3.80M
Range $3.42M – $4.17M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$44,612
Tax year 2024
Assessed value
$3,379,680
Assessed 2024
Previous assessed
$2,907,200
+16.3% YoY
Effective rate
1.32%
On assessed value
Assessed land
$232,250
Assessed improvement
$3,147,430
Land market value
$232,250
Improvement market value
$3,147,430
Total market value
$3,379,680
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
For Lease
Year built
1920
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
49,451 SF
Lot
4.93 ac (214,751 SF)
Zoning code
COM
APN
05037009Y
UPID
US53-3411382
Jurisdiction
JOHNSTON
Zoning & alternative use
COM · St, NC
Zoning COM · permitted uses
COM · St, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
St. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.9M
RESTAURANT
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.3M
WAREHOUSE, STORAGE
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Lot
4.93 ac
Current owner
From public records · entity-resolved
SPINNING MILL INVESTMENTS, LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 566, GREENVILLE, NC 27835-0566
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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