Mixed-Use Property with Metal
For Sale
$750,000
103 Smith St, Greenwood, SC 29649
Commercial Sale, Greenwood, SC
Property Size5,000 SF
Price / SF$98.68
Days on Market48
Property Features for 103 Smith St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
Greenwood 2E
Standard status
Active
Size
7,600 SF
Building Details
Year built
2008
Listing Agency:
eXp Realty LLC (Greenville)
(888) 440-2798
Listed By:
Dana Merritt · License #102295
(864) 992-1987
Added: Jul 20
Changed: Sep 5
Last Checked: Sep 5 at 8:06PM
MLS# 140256
Copyright © 2026 Greenwood Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 103 Smith St in Greenwood, this mixed-use property combines a commercial building, a brick home with dedicated office areas, and two additional lots. The 7,600-square-foot property includes a 50-by-100-foot metal building constructed in 2008, offering approximately 5,000 square feet with 12-foot garage doors. The building can accommodate storage, workshop, warehouse, automotive, or other commercial functions supported by its configuration.
The brick residence adds living space and on-site office potential, while the two extra lots provide room for future development or additional residential uses subject to zoning and local approvals. The property is zoned C-2, and natural gas and city water are available as options in the area.
The brick residence adds living space and on-site office potential, while the two extra lots provide room for future development or additional residential uses subject to zoning and local approvals. The property is zoned C-2, and natural gas and city water are available as options in the area.
Key Highlights
- 50' x 100' metal building constructed in 2008
- Approximately 5,000 square feet with 12‑foot garage doors
- 7,600‑square‑foot mixed‑use property at 103 Smith St
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
$54,361
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
7.25%
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%
$1,087,220
$1.1M
Cap Rate 7%
$776,586
$776.6K
Cap Rate 9%
$604,011
$604.0K
Market Conditions
NOI Build-Up for 7,600 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
$68.4K $9.00/SF
− Vacancy
−$4.4K −$0.59/SF
EGI
$64.0K $8.42/SF
− OpEx
−$9.6K −$1.26/SF
NOI
$54.4K $7.15/SF
Area
Greenwood County, SC
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,087,220
Cap Rate 7%
$776,586
Cap Rate 9%
$604,011
Alternative Uses
Best Use
Mixed Use
$1.07M
$940.5K – $1.25M
NOI $75,240 @ 7.0% cap · market cap 10.03%
Second Best
Warehouse
$776.6K
$679.5K – $906.0K
NOI $54,361 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,122 @ 7.0% cap · market cap 22.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combination of commercial, residential, and office space with additional land for future development, subject to approvals.
Where is this mixed-use property located?
The property is located at 103 Smith St Greenwood, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 50' x 100' metal building constructed in 2008; Approximately 5,000 square feet with 12‑foot garage doors; 7,600‑square‑foot mixed‑use property at 103 Smith St
