Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,145,000
Industrial properties
205 Millstone Dr Hillsborough, NC 27278-8776
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1359083
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2009
Total area
6,995 SF
Lot
1 ac (43,560 SF)
Zoning code
HI
APN
9873-07-5334
UPID
US53-1359083
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
Current use
Occupant on record · Public records
-
Foil Law Offices Law Firm Child Welfare Organization
-
Von Hagen Law, PLLC Law Firm Child Welfare Organization
-
Hillsborough Cheer, Dance & Gymnastics Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.42M
Comparable Approach
Comparable
$802k
Blend (final)
Blend
$1.15M
Owner & transaction history
Bret O'neill · 4 yrs held
Bret O'neill
since 2021
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
HI · Hillsborough, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hillsborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hillsborough 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%
$1,540,000
6.5%
$1,420,000
7%
$1,320,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$920,000
Current use
Blend value · Realmo final
$1.15M
Range $1.03M – $1.26M · ±10% · vs last sale $1.20M (Jul 23 2021)
Last sale anchor
$1.20M
Jul 23 2021
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
$164 / 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
$10,347
Tax year 2024
Assessed value
$632,900
Assessed 2024
Previous assessed
$632,900
+0.0% YoY
Effective rate
1.63%
On assessed value
Assessed land
$108,900
Assessed improvement
$524,000
Land market value
$108,900
Improvement market value
$524,000
Total market value
$632,900
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2009
Heating
NONE
Stories
1
Total area
6,995 SF
Lot
1 ac (43,560 SF)
Zoning code
HI
APN
9873-07-5334
UPID
US53-1359083
Jurisdiction
ORANGE
Zoning & alternative use
HI · Hillsborough, NC
Zoning HI · permitted uses
HI · Hillsborough, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hillsborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$920,000
INDUSTRIAL (GENERAL) Current
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
2009
Heating
NONE
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Bret O'neill
Individual
Mailing address
2803 BECKETTS RDG DR, HILLSBOROUGH, NC 27278-6623
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2021
$1,200,000
Bret O'neill
Suzanne Faulkner
Special Warranty Deed
$650,000 · First Carolina Bank
Nov 3, 2008
—
Michael Faulkner
—
Trustees Deed
related
$654,500 · Branch Banking & Trust Co
Jun 11, 2008
$120,000
Michael Faulkner
Parker,d Michael & Betsy N
Warranty Deed
$81,250 · Branch Banking & Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 205 Millstone Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
