Automotive Salvage Shop and
For Sale
$1,599,000
314 S Hwy 221, Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size12,000 SF
Lot Size34.88 Acres
Price / SF$133.25
Days on Market37
Property Features for 314 S Hwy 221
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R1
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
12,000 SF
Lot size
34.88 Acres
Amenities
2-bedroom home
2-acre pond
Building Details
Year built
1963
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Renee Simchon
(864) 344-2525
Added: Aug 6
Changed: Aug 19
Last Checked: Sep 11 at 3:06AM
MLS# 140339
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.
This automotive salvage operation includes shop buildings and a garage configured for vehicle processing, parts removal, and repair work. An office building supports daily administration, while a 2-bedroom home provides on-site housing for an owner, manager, or operator. The property also includes a pond and approximately 12,000 square feet of improvements.
The operation encompasses 34.88 acres at 314 S Hwy 221 in Greenwood, South Carolina. Established in 1963, the business is offered with its real estate, buildings, equipment, and operating infrastructure. The property is identified with R1 zoning.
The operation encompasses 34.88 acres at 314 S Hwy 221 in Greenwood, South Carolina. Established in 1963, the business is offered with its real estate, buildings, equipment, and operating infrastructure. The property is identified with R1 zoning.
Key Highlights
- 34.88‑acre automotive salvage property at 314 S Hwy 221, Greenwood, SC 29646
- Approximately 12,000 square feet of property improvements
- Shop buildings and garage for vehicle processing, parts pulling, and repair work
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
$70,686
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
4.42%
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%
$1,413,720
$1.4M
Cap Rate 7%
$1,009,800
$1.0M
Cap Rate 9%
$785,400
$785.4K
Market Conditions
NOI Build-Up for 12,000 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
$108.0K $9.00/SF
− Vacancy
−$7.0K −$0.59/SF
EGI
$101.0K $8.42/SF
− OpEx
−$30.3K −$2.52/SF
NOI
$70.7K $5.89/SF
Area
Greenwood County, SC
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,413,720
Cap Rate 7%
$1,009,800
Cap Rate 9%
$785,400
Alternative Uses
Best Use
Industrial
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$790.7K
$691.9K – $922.5K
NOI $55,349 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $263,877 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
47
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
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Operating salvage facilities include processing shops, an office, on-site housing, and a pond across a large acreage tract.
Where is this auto shop located?
The property is located at 314 S Hwy 221 Greenwood, SC.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 34.88‑acre automotive salvage property at 314 S Hwy 221, Greenwood, SC 29646; Approximately 12,000 square feet of property improvements; Shop buildings and garage for vehicle processing, parts pulling, and repair work
