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    Zoned C-2 Brick Ranch with Basement Title is generated by Realmo AI

    1504 E Rutherford Street, Landrum, SC 29356

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    For Sale
    $449,000

    COMMERCIAL - Landrum, SC

    Property size:
    1,875 SF
    Lot size:
    1.59 Acres
    Price / SF:
    $239/SF
    Added:
    May 20, 2026
    Days on Market:
    17
    Last Refresh:
    Jun 5 at 2:06 am

    Property Features for 1504 E Rutherford Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    1,875 SF
    Lot size
    1.59 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2908

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air
    Water source
    Public

    Building Details

    Flooring type
    Wood, Linoleum

    We can help!

    Listing Contact
    Michelle Manion
    Michelle Manion

    Listing agent Michelle Manion License #103073

    Listing office Keller Williams Realty 1707 John B White Sr Blvd, Spartanburg, SC

    Listing date May 20, 2026

    MLS# 337372

    Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Landrum location with C‑2 zoning
    • Spacious 1.59‑acre lot with road frontage on two streets
    • Four‑bedroom, 2.5‑bath brick ranch with approximately 1,875 SQFT
    • Full, unfinished basement ideal for storage or expansion
    • Brand new HVAC system to be installed prior to closing
    • Convenient access to downtown shops, restaurants, schools, parks, and major travel routes

    Overview

    This brick ranch includes 4 bedrooms and 2.5 bathrooms with approximately 1,875 square feet above grade, plus a full unfinished basement. The basement offers practical flexibility for storage, a workshop, or potential future finishing. A new HVAC system is scheduled to be installed prior to closing. Outside, the property features a fenced backyard and sits on 1.59 acres, providing room for parking and additional site uses.

    The home is located in the heart of downtown Landrum with road frontage on both E Rutherford Street and Kirby Street. It is zoned C-2, supporting a range of residential, office, business, investment, or mixed-use directions depending on the intended use and approvals. Public water is connected, and public sewer is available, though the home is currently serviced by septic.

    The combination of a centrally located brick ranch, two-street frontage, and an unfinished full basement makes this property workable for owners seeking a live-work setup, a small office configuration, or a flexible site for business-related uses. It is being sold as-is, and prospective buyers should arrange an appointment before visiting the property.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $45.2k $24.12
    − Vacancy −$6.6k −$3.51
    EGI $38.6k $20.61
    − OpEx −$9.7k −$5.15
    NOI $29.0k $15.46
    1,875 SF · lease $24.12/SF/yr · vacancy 14.55% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $414.1K
    $362.3K – $483.1K (±1% cap)
    NOI $28,984 @ 7.0% cap · market cap 6.46%
    Second Best
    Mixed Use
    $353.6K
    $309.4K – $412.5K (±1% cap)
    NOI $24,750 @ 7.0% cap · market cap 5.51%
    Theoretical Best
    Warehouse
    $1.46M
    $1.27M – $1.70M (±1% cap)
    NOI $101,892 @ 7.0% cap · market cap 22.69%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Landrum
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.170708
    Latitude
    35.178619

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    FAQs

    What type of property is this?
    Single family property - C-2 zoned brick ranch with road frontage on two streets and an unfinished basement for storage or expansion.
    Where is this single family 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: Prime downtown Landrum location with C‑2 zoning; Spacious 1.59‑acre lot with road frontage on two streets; Four‑bedroom, 2.5‑bath brick ranch with approximately 1,875 SQFT
    (864) 804-7054
    We can help!
    Listing Contact
    Michelle Manion
    Michelle Manion
    Real Estate License ID: 103073
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1504 E Rutherford Street, Landrum, SC 29356-1416
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