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Property profile & analytics
OFF-MARKET
Estimated value
$15,920,000
Grocery and convenience stores
3338 Boylston Hwy, Mills River, NC 28759-4103
Individually Owned
13-yr Hold
Free & Clear
Property ID
US53-1365977
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2012
Total area
112,100 SF
Lot
14.22 ac (619,423 SF)
Zoning code
9975597~MR-MU
APN
9631599551
UPID
US53-1365977
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
$21.32M
Comparable Approach
Comparable
$16.94M
Blend (final)
Blend
$15.92M
Owner & transaction history
Wayne S Carland · 13 yrs held
Wayne S Carland
since 2012
2 recorded transactions
Zoning & alternative use
9975597~MR-MU · Mills River, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$21.4M
+13.7%
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 Mills River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mills River 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%
$23,095,000
6.5%
$21,315,000
7%
$19,795,000
Alternative Use
Use
Estimation
RETAIL STORES
$18,830,000
Current use
OFFICE BUILDING
$21,405,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$15.92M
Range $14.33M – $17.51M · ±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
$142 / 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
Property tax & assessments
Assessed value
$12,687,900
Assessed 2024
Previous assessed
$12,687,900
+0.0% YoY
Assessed land
$4,049,600
Assessed improvement
$8,638,300
Land market value
$4,049,600
Improvement market value
$8,638,300
Total market value
$12,687,900
Applied tax rate
60.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2012
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
112,100 SF
Lot
14.22 ac (619,423 SF)
Zoning code
9975597~MR-MU
APN
9631599551
UPID
US53-1365977
Jurisdiction
HENDERSON
Zoning & alternative use
9975597~MR-MU · Mills River, NC
Zoning 9975597~MR-MU · permitted uses
9975597~MR-MU · Mills River, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mills River. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$18.8M
OFFICE BUILDING
Est. value
$21.4M
RETAIL STORES Current
OFFICE BUILDING
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
2012
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
14.22 ac
Current owner
From public records · entity-resolved
Wayne S Carland
Individual
Free & Clear · 13 yrs held
Mailing address
PO BOX 460189, HOUSTON, TX 77056-8189
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2012
—
Wayne S Carland
Ingles Markets INC
Quit Claim Deed
related
—
Nov 1, 2004
—
Ingles Markets INC
Owner Name Unavailable
Grant Deed
related
—
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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