Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Mill Redevelopment Opportunity Title is generated by Realmo AI

    129 Monarch Hwy, Union, SC 29379

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    700,000 sq ft industrial space on 17 acres.

    Type:Industrial, Mixed Use, Multifamily, Self Storage
    Property size:
    700,000 SF
    Lot size:
    17.00 Acres
    Price / SF:
    $15/SF
    Added:
    Jan 23, 2025
    Days on Market:
    497
    Last Refresh:
    May 12 at 9:30 pm

    Property Features for 129 Monarch Hwy

    General Information

    Standard status
    Active
    Size
    700,000 SF
    Lot size
    17.00 Acres
    Property subtype
    Industrial, Mixed Use, Multifamily, Self Storage

    We can help!

    Listing Contact
    Ola van Zyl

    Listing agent Ola van Zyl License #SC 125343

    Listing office Keller Williams Fort Mill

    Listing date Jan 23, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Fort Mill

    HighLights

    • Seller financing available
    • 700,000 sq ft of usable, well‑maintained space on 17 acres
    • Strategic location between Charlotte, Greenville, and Columbia with easy access to major highways
    • Potential for various Tax Credits and Incentives (Textile Revitalization, Historic Preservation, etc.)
    • Solid infrastructure with modern utilities, high‑capacity loading docks, and flexible floor plans
    • Vast acreage allows for ample parking, outdoor storage, or further expansion

    Overview

    This historic Monarch Mill building offers an industrial or redevelopment opportunity with seller financing. The property features 700,000 sq ft of usable, well-maintained space on over 17 acres. Strategically located between Charlotte, Greenville, and Columbia, it offers logistic advantages. The expansive footprint allows for various potential applications, including manufacturing, warehousing, or mixed-use developments that blend residential, commercial, and recreational spaces. The building's infrastructure features modern utilities, high-capacity loading docks, and flexible floor plans. The acreage provides ample parking, outdoor storage, and the possibility for further expansion. Proximity to major highways facilitates quick access to key markets in the Southeast. The site is positioned for attracting a wide range of tenants or buyers. This property presents an opportunity for developers to transform this property into a landmark destination. A land lease is in place for 7 acres at $150,000 per year. Various tax credits and incentives may be available, including Textile Revitalization Credits, Historic Preservation Tax Incentives, Baileys Bill Union SC, Federal Income Tax Credit for Low Income Housing, and State Historic Rehabilitation Tax Credit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Auto Parts Store Department Store Food Market Grocery & Convenience Store Bar & Pub Discount Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Union
    State
    South Carolina
    Longitude
    -81.5949113
    Latitude
    34.7174306

    Nearby Similar for Sale

    • $265,000

      Historic Building on Main Street

      Historic building in downtown Union with retail/restaurant potential.
      208 E Main Street, Union, SC 29379-0208
      View Details
    • $11,000,000
      700,000 SF

      Historic Mill Redevelopment Opportunity

      700,000 SF industrial/redevelopment space on 17 acres.
      129 Monarch Highway, Union, SC 29379
      View Details
    • $1,260,000

      Union SC Multifamily Investment Opportunity

      Seven-unit rental portfolio in Union, South Carolina, near downtown.
      104 E Henrietta St., Union, SC 29379
      View Details
    • $1,325,000
      4,470 SF

      Spacious Country Living Gem

      Upscale country living on 30+ acres with multiple dwellings.
      1955 Jonesville Lockhart Highway, Union, SC 29379
      View Details
    • $87,500
      1,250 SF

      Downtown Union Storefront with Patio

      Commercial storefront in historic downtown Union with development-ready patio.
      116 W Main Street, Union, SC 29379
      View Details
    • $87,500

      Downtown Union Commercial Storefront

      Commercial storefront in historic downtown Union, South Carolina.
      116 W Main Street, Union, SC 29379
      View Details
    • $2,300
      4,200 SF

      Historic Commercial Space for Rent

      Unique 4,200 SF commercial space in historic Union, SC.
      110 E Main Street, Union, SC 29379
      View Details
    • $85,000
      2,046 SF

      Event Center Opportunity, Union, SC

      Event center opportunity with kitchen, restrooms, and open floor space.
      2205 Whitmire Highway, Union, SC 29379
      View Details
    • $197,000
      4,300 SF

      Union, SC Commercial Corner Lot

      Revitalized commercial building with potential residential space in downtown Union.
      226 E Main Street, Union, SC 29379
      View Details
    • $125,000
      3,400 SF

      Historic Main Street Commercial Property

      Historic Main Street property with two commercial spaces.
      120 W Main Street, Union, SC 29379
      View Details
    • $155,000
      5,535 SF

      Retail Property Near Downtown Union

      Retail property with ample parking near Union Medical Center.
      101-103 S Boyce St, Union, SC
      View Details
    • $1,975,000
      126,977 SF

      Adaptive Reuse Opportunity

      127,000 SF building in Union, SC, for adaptive reutilization.
      322 W South St, Union, SC 29379
      View Details

    FAQs

    What type of property is this?
    Industrial property - 700,000 sq ft industrial space on 17 acres.
    Where is this industrial property located?
    The property is located at 129 Monarch Hwy Union, SC.
    What is the asking price?
    The asking price for this property is $11,000,000.
    What are key features of this property?
    This property features: Seller financing available; **700,000 sq ft of usable, well‑maintained space on 17 acres**; Strategic location between Charlotte, Greenville, and Columbia with easy access to major highways
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ola van Zyl
    Real Estate License ID: SC 125343
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    129 Monarch Hwy, Union, SC 29379
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!