Live-Work Home with Commercial
For Sale
$164,900
Pending
1400 Pearman Dairy Road, Anderson, SC 29625
COMMERCIAL - Anderson, SC
Property Size1,200 SF
Lot Size0.52 Acres
Days on Market171
Property Features for 1400 Pearman Dairy Road
General Information
Property type
Commercial Sale
Property subtype
Office
Appliances
WaterHeater
Lot features
Outside City Limits, Level
Directions
Pearman Dairy Rd (28 By-Pass) just above Westside High School.
Subdivision
107-Anderson County, SC
Standard status
Pending
APN
1230101002
Lot size
0.52 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Building Details
Floors in Building
1
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
Joey Brown Real Estate
(864) 260-1900
Listed By:
Joey Brown · License #4331
(864) 314-0828
Added: Mar 11
Changed: Aug 19
Last Checked: Aug 28 at 2:06AM
MLS# 20298516
Copyright © 2026 Western Upstate 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.
This versatile property offers a residential layout with commercial flexibility, currently zoned commercial. The home includes 3 bedrooms and 1.5 bathrooms and is approximately 1,200 square feet, with a spacious living area and an updated kitchen featuring stainless appliances. A bright dining or flex space includes sliding doors that open to a backyard deck, and multiple rooms can serve as bedrooms, offices, or meeting rooms depending on the intended use.
The property is located directly on the highly visible 28 Bypass in Anderson. An on-site exterior includes a large driveway with ample parking for multiple vehicles and a spacious backyard with mature trees.
For comfort, the HVAC was newly installed in 2024. Owner financing is available, and while the property is currently commercial, buyers may be able to pursue rezoning to residential to better match their plans.
The property is located directly on the highly visible 28 Bypass in Anderson. An on-site exterior includes a large driveway with ample parking for multiple vehicles and a spacious backyard with mature trees.
For comfort, the HVAC was newly installed in 2024. Owner financing is available, and while the property is currently commercial, buyers may be able to pursue rezoning to residential to better match their plans.
Key Highlights
- 1200 SF home on 28 Bypass in Anderson with residential or commercial use potential
- Currently zoned commercial; could remain commercial or be eligible for rezoning to residential (per listing remarks)
- 3 bedrooms and 1.5 bathrooms with layout suited for living, office, or live‑work use
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
$14,985
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
9.09%
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%
$299,700
$299.7K
Cap Rate 7%
$214,071
$214.1K
Cap Rate 9%
$166,500
$166.5K
Market Conditions
NOI Build-Up for 1,200 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
$25.9K $21.60/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$24.0K $19.98/SF
− OpEx
−$9.0K −$7.49/SF
NOI
$15.0K $12.49/SF
Area
Anderson County, SC
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$299,700
Cap Rate 7%
$214,071
Cap Rate 9%
$166,500
Alternative Uses
Best Use
Apartment 5plus
$11.42M
$9.99M – $13.32M
NOI $799,253 @ 7.0% cap · market cap 484.69%
Second Best
Office B
$282.2K
$246.9K – $329.2K
NOI $19,754 @ 7.0% cap · market cap 11.98%
Theoretical Best
Multifamily LT 5
$12.99M
$11.37M – $15.16M
NOI $909,483 @ 7.0% cap · market cap 551.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 29625, SC
28,521
Population
13,716
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
46.9 sq mi
ZIP Area
608
Density / Sq Mi
$58,746
Median Household Income
$36,120
Median Earnings
$1,015
Median Rent
$210,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Versatile home on 28 Bypass with 3 beds, 1.5 baths, updated kitchen, and new HVAC installed in 2024.
Where is this live-work space located?
The property is located at 1400 Pearman Dairy Road Anderson, SC.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: 1200 SF home on 28 Bypass in Anderson with residential or commercial use potential; Currently zoned commercial; could remain commercial or be eligible for rezoning to residential (per listing remarks); 3 bedrooms and 1.5 bathrooms with layout suited for living, office, or live‑work use
