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    480 Wingo Rd Roebuck, SC 29376

    Sponsored
    For Sale
    $285,000

    2.21 Acres, House, Development Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    359
    This exceptional 2.21-acre mixed-use property located at 480 Wingo Road, Roebuck, South Carolina, presents a compelling investment opportunity. The property currently features a single-family house, providing immediate income potential or a comfortable residence for an owner-operator. However, the significant acreage offers substantial room for expansion and development. The expansive lot allows for the construction of additional residential units, such as townhouses or patio homes, catering to a growing demand for housing in the area. This presents a unique chance to capitalize on the current market conditions and create a diversified income stream. The existing house could be renovated and rented, while simultaneously developing the remaining land. This strategy allows for phased development, minimizing upfront investment while maximizing long-term returns. The property's location in Roebuck, SC, offers convenient access to local amenities and transportation routes, further enhancing its appeal to potential residents and investors. This is an ideal opportunity for those seeking a high-return investment with significant upside potential. The property is priced competitively at $285,000, reflecting its considerable development potential and existing structure. Serious inquiries are encouraged to explore this promising venture. Detailed site plans and zoning information are available upon request.

    Property Features for 480 Wingo Rd

    General Information

    Property type
    Mixed-use properties
    Lot Size
    96,268 SF

    We can help!

    Listing Contact
    Tami Allen

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Building Supply Clothing Store Auto Repair Shop Wholesale Shop Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Roebuck
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9453
    Latitude
    34.8892

    Nearby Comparable

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    Nearby Similar for Sale

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    • $725,000
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      Roebuck Multi-Family Investment Opportunity

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      30,000 SF

      Roebuck Warehouse Property for Sale

      Three warehouses totaling 68,000 SF with varied features.
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    • $5,900,000
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      Roebuck Warehouses with Storage Yard

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      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 2.21 Acres, House, Development Potential
    Where is this mixed-use property located?
    The property is located at 480 Wingo Rd Roebuck, SC.
    What is the asking price?
    The asking price for this property is $285,000.
    (888) 440-2798
    Request Owner's contact information
    480 Wingo Rd Roebuck, SC 29376
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    Roebuck, SC 29376
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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.

    More about this property
    480 Wingo Rd Roebuck, SC 29376
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    We can help!
    Listing Contact
    Tami Allen
    (888) 440-2798
    Learn more
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