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    231 2Nd St Clayton, NC 27520

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    231 2Nd St Clayton, NC 27520

    View on Map
    • Office Units
    • 12,914 SF
    Off-Market
    Property ID
    US53-0925890
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Johnston County Arts Council / Theater & Performing Art Venue

    Property Details for 231 2Nd St

    Property size
    12,914 SF
    Property type
    Office Units

    Description

    The Station Clayton offers 12,914 square feet of renovated creative office space in the heart of Downtown Clayton. This three-story building, completed in 2024, features 18 suites ranging from 262 to 3,790 contiguous square feet, perfect for businesses of all sizes. The property boasts a single elevator and is conveniently located near Barbour St. The building's recent renovation has created a cohesive multi-tenant environment, ideal for a variety of businesses. The flexible space is suitable for retail, office, and restaurant uses, with seven spaces currently available. The Station Clayton is designed to foster a vibrant community, offering a unique opportunity to establish a presence in a rapidly developing area. The building's modern amenities and prime location make it an attractive option for businesses seeking a dynamic and convenient workspace. Multiple tenancy options are available, allowing for customization to meet individual business needs. This historic building has been thoughtfully updated to provide a contemporary and functional space while retaining its character. Inquire today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clayton
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.458411100624
    Latitude
    35.651007676436

    Comparable in this City

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      Downtown Clayton Retail Opportunity

      Stand-alone building suitable for various community-based businesses.
      190 Mill St, Clayton, NC 27520
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      Medical Office Building Near Downtown

      Two-story medical office building near downtown Clayton available for lease.
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      NC Highway 42 Land Lease

      Land available for lease on NC Highway 42.
      2364 Nc Highway 42, Clayton, NC 27520
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      Commercial Space For Lease

      Commercial real estate available for lease in Clayton, North Carolina.
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    Similar Nearby for Sale

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      Medical Park Development Opportunity

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      Medical Office Building Near Downtown

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    • New
      $180,000
      0.48 Acres

      Clayton, NC Commercial Corner Lot

      Corner lot zoned for office and institutional use in Clayton.
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    Similar Nearby for Lease

    • $30 SF/Yr

      Medical Office Space in Clayton

      Class A medical office space available for lease in Clayton.
      166 Springbrook Ave, Clayton, NC 27520
      View Details
    • $5,262 /Mo
      2,105 SF

      Clayton Office Space For Rent

      Office unit available for lease in Clayton, North Carolina.
      627 Guy Rd, Clayton, NC 27520
      View Details
    • $2,000 /Mo
      1,088 SF

      Downtown Clayton Retail Opportunity

      Stand-alone building suitable for various community-based businesses.
      190 Mill St, Clayton, NC 27520
      View Details
    • Contact for pricing

      Medical Office Building Near Downtown

      Two-story medical office building near downtown Clayton available for lease.
      890 S Lombard St, Clayton, NC 27520
      View Details
    • Contact for pricing

      NC Highway 42 Land Lease

      Land available for lease on NC Highway 42.
      2364 Nc Highway 42, Clayton, NC 27520
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial real estate available for lease in Clayton, North Carolina.
      2003 Nc-42, Clayton, NC 27520
      View Details
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    231 2Nd St
    Clayton, NC 27520
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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