Brick Downtown Mixed-Use
For Sale
$449,000
1504 E Rutherford Street, Landrum, SC 29356
Commercial/Industrial, Landrum, SC
Property Size1,875 SF
Lot Size1.59 Acres
Price / SF$239.47
Days on Market66
Property Features for 1504 E Rutherford Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
015
Standard status
Active
APN
1-08-03-002.00
Lot size
1.59 Acres
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Flooring type
Linoleum, Wood, Tile
Building materials
Brick
Roof type
Aluminum
Listing Agency:
Keller Williams Realty
(864) 574-6000
Listed By:
Michelle Manion · License #103073
(864) 804-7054
Added: Jul 19
Changed: Sep 15
Last Checked: Sep 22 at 7:06PM
MLS# 1592392
Copyright © 2026 Greater Greenville 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 brick ranch occupies 1.59 acres in downtown Landrum and includes approximately 1,875 square feet, a four-bedroom, 2.5-bath layout, and a full unfinished basement. Interior finishes include wood, linoleum, and tile flooring, with electric heat. The basement adds substantial utility for storage, workshop functions, or future expansion. A fenced backyard, aluminum roof, and public water service are also in place.
The property fronts both E Rutherford Street and Kirby Street, providing access from two roads. Public sewer is available, although the home is currently served by septic. C-2 zoning supports a range of residential, office, business, investment, and mixed-use possibilities. Downtown shops, restaurants, schools, parks, and everyday conveniences are located nearby. The property is offered as-is.
The property fronts both E Rutherford Street and Kirby Street, providing access from two roads. Public sewer is available, although the home is currently served by septic. C-2 zoning supports a range of residential, office, business, investment, and mixed-use possibilities. Downtown shops, restaurants, schools, parks, and everyday conveniences are located nearby. The property is offered as-is.
Key Highlights
- 1.59 acres with frontage on both E Rutherford Street and Kirby Street
- Approximately 1,875 square feet with a four‑bedroom, 2.5‑bath layout
- C‑2 zoning supports residential, office, business, investment, and mixed‑use applications
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
$28,984
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
6.46%
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%
$579,680
$579.7K
Cap Rate 7%
$414,057
$414.1K
Cap Rate 9%
$322,044
$322.0K
Market Conditions
NOI Build-Up for 1,875 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
$45.2K $24.12/SF
− Vacancy
−$6.6K −$3.51/SF
EGI
$38.6K $20.61/SF
− OpEx
−$9.7K −$5.15/SF
NOI
$29.0K $15.46/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
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%
$579,680
Cap Rate 7%
$414,057
Cap Rate 9%
$322,044
Alternative Uses
Best Use
Office B
$414.1K
$362.3K – $483.1K
NOI $28,984 @ 7.0% cap · market cap 6.46%
Second Best
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$1.46M
$1.27M – $1.70M
NOI $101,892 @ 7.0% cap · market cap 22.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 29356, SC
8,893
Population
4,434
Households
2
Avg Household Size
51
Median Age
35%
College-Educated
90%
High-School Grad
82.1 sq mi
ZIP Area
108
Density / Sq Mi
$60,911
Median Household Income
$43,119
Median Earnings
$632
Median Rent
$273,500
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-2 zoning and dual-street frontage support residential, office, business, or mixed-use applications.
Where is this mixed-use property located?
The property is located at 1504 E Rutherford Street Landrum, SC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1.59 acres with frontage on both E Rutherford Street and Kirby Street; Approximately 1,875 square feet with a four‑bedroom, 2.5‑bath layout; C‑2 zoning supports residential, office, business, investment, and mixed‑use applications
