Auto Shop Property with Paint
For Sale
$275,000
120/124 Commerce Circle, Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size7,067 SF
Lot Size0.76 Acres
Price / SF$38.91
Days on Market191
Property Features for 120/124 Commerce Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Subdivision
Greenwood 2E
Standard status
Active
Size
7,067 SF
Lot size
0.76 Acres
Amenities
bay doors
office spaces
lift
paint booth
Building Details
Year built
1962
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Renee Simchon
(864) 344-2525
Added: Mar 4
Changed: Aug 19
Last Checked: Sep 11 at 3:06AM
MLS# 137340
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.
The property at 120/124 Commerce Circle includes two buildings totaling 7,067 square feet on approximately 0.76 acres. The layout provides four bay doors and three office spaces, with two offices in the primary building and one in the secondary building. A lift and paint booth are included, supporting automotive service and related operations.
Zoned I-1, the site is positioned just off the Bypass in Greenwood and includes on-site parking and yard space. The combination of service bays, offices, equipment, and outdoor area creates a practical setup for an auto shop, body shop, restoration business, or light industrial operation.
Zoned I-1, the site is positioned just off the Bypass in Greenwood and includes on-site parking and yard space. The combination of service bays, offices, equipment, and outdoor area creates a practical setup for an auto shop, body shop, restoration business, or light industrial operation.
Key Highlights
- Two buildings totaling 7,067 square feet on approximately 0.76 acres
- Four bay doors and three office spaces across the two buildings
- Included lift and paint booth
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
$22,418
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
8.15%
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%
$448,360
$448.4K
Cap Rate 7%
$320,257
$320.3K
Cap Rate 9%
$249,089
$249.1K
Market Conditions
NOI Build-Up for 7,067 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
$37.3K $5.28/SF
− Vacancy
−$2.8K −$0.40/SF
EGI
$34.5K $4.88/SF
− OpEx
−$12.1K −$1.71/SF
NOI
$22.4K $3.17/SF
Area
Greenwood County, SC
Vacancy
7.57%
Lease Rate
$5.28 /SF/Yr
Expense Ratio
35.00%
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%
$448,360
Cap Rate 7%
$320,257
Cap Rate 9%
$249,089
Alternative Uses
Best Use
Industrial
$594.7K
$520.4K – $693.8K
NOI $41,628 @ 7.0% cap · market cap 15.14%
Second Best
Retail
$465.7K
$407.5K – $543.3K
NOI $32,596 @ 7.0% cap · market cap 11.85%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,401 @ 7.0% cap · market cap 56.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Two-building commercial property with service equipment, office space, parking, and yard area.
Where is this auto shop located?
The property is located at 120/124 Commerce Circle Greenwood, SC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two buildings totaling 7,067 square feet on approximately 0.76 acres; Four bay doors and three office spaces across the two buildings; Included lift and paint booth
