Greenwood Fine Dining Restaurant For
For Sale
$495,000
114 Old Abbeville Hwy, Greenwood, SC 29649
Fine Dining Restaurant in Greenwood, SC
Property Size1,800 SF
Lot Size1.00 Acre
Price / SF$275
Days on Market329
Property Features for 114 Old Abbeville Hwy
General Information
Standard status
Active
Property type
Conventional restaurants, Restaurants
Size
1,800 SF
Net Rentable
1,800 SF
Class
C
Total Parking Spaces
25
Elevators
N/A
Lot size
1.00 Acre
Occupancy
50%
Sale Condition
Lease Option
Investment Type
Sale/leaseback
Building Details
Year Built
1927
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
(864) 554-0041
Listed By:
Syed
(864) 554-0041
Added: Oct 5, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This established fine dining restaurant, operating since 1990, is available for purchase. The property has been recently completely remodeled and features multiple elegant dining rooms and a spacious, fully equipped commercial kitchen. This turnkey business is ready for a new owner, as the current owner is retiring. The restaurant is beautifully decorated, creating a warm and inviting atmosphere. Some décor pieces may be available for purchase separately. The property also includes multiple outdoor buildings for storage and sits on nearly one acre of land, providing excellent potential for landscaping and outdoor dining. The space is ideal for hosting events, private parties, and special occasions in a charming and versatile setting. The property is located in Greenwood, South Carolina.
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
$23,425
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
4.73%
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%
$468,500
$468.5K
Cap Rate 7%
$334,643
$334.6K
Cap Rate 9%
$260,278
$260.3K
Market Conditions
NOI Build-Up for 1,800 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
$32.4K $18.00/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$31.2K $17.35/SF
− OpEx
−$7.8K −$4.34/SF
NOI
$23.4K $13.01/SF
Area
Greenwood County, SC
Vacancy
3.60%
Lease Rate
$18.00 /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%
$468,500
Cap Rate 7%
$334,643
Cap Rate 9%
$260,278
Alternative Uses
Best Use
Specialty Retail
$334.6K
$292.8K – $390.4K
NOI $23,425 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$565.4K
$494.8K – $659.7K
NOI $39,581 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fine Dining Restaurant in Greenwood, SC
Where is this conventional restaurant located?
The property is located at 114 Old Abbeville Hwy Greenwood, SC.
What is the asking price?
The asking price for this property is $495,000.
