Light Industrial Flex
New
For Sale
$295,000
1224 W Deadfall Rd, Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size2,400 SF
Lot Size4.50 Acres
Price / SF$122.92
Days on Market4
Property Features for 1224 W Deadfall Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
2,400 SF
Lot size
4.50 Acres
Taxes and HOA fees
Tax Annual Amount
878
Building Details
Year built
2004
Listing Agency:
RE/MAX ACTION REALTY · RE/MAX International
(864) 942-0021
Listed By:
Bubba Harvin · License #13033
(864) 992-9090
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 17 at 2:06PM
MLS# 140560
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.
Built in 2004, this 2,400-square-foot flex property includes a metal shop building with two 14-foot roll-up doors, a covered work or storage area, restroom facilities, and heated and cooled office space. The layout brings together enclosed work space, administrative area, and sheltered outdoor functionality within one commercial improvement.
The property encompasses 4.5 acres at 1224 W Deadfall Rd in Greenwood, South Carolina, providing room for outdoor storage and equipment parking. I-1 zoning supports its light industrial positioning, while the combination of building features and land area accommodates businesses requiring shop, office, and storage components.
The property encompasses 4.5 acres at 1224 W Deadfall Rd in Greenwood, South Carolina, providing room for outdoor storage and equipment parking. I-1 zoning supports its light industrial positioning, while the combination of building features and land area accommodates businesses requiring shop, office, and storage components.
Key Highlights
- 4.5‑acre property at 1224 W Deadfall Rd, Greenwood, SC 29646
- 2,400‑square‑foot metal building constructed in 2004
- Two 14‑foot roll‑up doors
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
$17,167
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
5.82%
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%
$343,340
$343.3K
Cap Rate 7%
$245,243
$245.2K
Cap Rate 9%
$190,744
$190.7K
Market Conditions
NOI Build-Up for 2,400 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
$21.6K $9.00/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$20.2K $8.42/SF
− OpEx
−$3.0K −$1.26/SF
NOI
$17.2K $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%
$343,340
Cap Rate 7%
$245,243
Cap Rate 9%
$190,744
Alternative Uses
Best Use
Warehouse
$245.2K
$214.6K – $286.1K
NOI $17,167 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$753.9K
$659.7K – $879.6K
NOI $52,775 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Balanced
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
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned flex space combines shop, office, covered storage, and restroom facilities for varied commercial operations.
Where is this flex space located?
The property is located at 1224 W Deadfall Rd Greenwood, SC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 4.5‑acre property at 1224 W Deadfall Rd, Greenwood, SC 29646; 2,400‑square‑foot metal building constructed in 2004; Two 14‑foot roll‑up doors
