New Construction
For Sale
$364,000
119-121 Cannon Street, Woodruff, SC 29388
Two-level units offer modern kitchens, private laundry hookups, and separate utility meters.
Property Size2,662 SF
Days on Market190
Property Features for 119-121 Cannon Street
General Information
Standard status
Active
Size
2,662 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
Electric
Central Forced
Electric Water Heater
Architectural
Building Details
Building Size
2,662 SF
Year Built
2025
Buildings
1
Stories
2
Listing Agency:
Keller Williams Greenville Central
(864) 400-4100
Listed By:
Santiago Hernandez
Source:
Kw
Added: Feb 20
Changed: Aug 29
Last Checked: Aug 29 at 3:13PM
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 Greenville Central
Investment Insights
Based on property information with market context.
Built in 2025, this duplex at 119-121 Cannon Street includes two residences, each with three bedrooms and two-and-a-half bathrooms. Both units offer open-concept living areas, modern kitchens with granite countertops, soft-close cabinetry, and stainless steel appliances. Luxury vinyl plank flooring extends across both levels, while primary bedrooms include private en-suite bathrooms. Each residence also has a dedicated laundry area with hookups, separate utility metering, and parking for at least two vehicles.
The property is located just off Main Street in Woodruff, near Woodruff High School and local dining and coffee destinations including Claudio's Bistro, Conner Flynn's Public House, and Humble Grounds. Access to I-26 supports connectivity for regional commuting.
The property is located just off Main Street in Woodruff, near Woodruff High School and local dining and coffee destinations including Claudio's Bistro, Conner Flynn's Public House, and Humble Grounds. Access to I-26 supports connectivity for regional commuting.
Key Highlights
- 2025‑built duplex with two 3‑bedroom, 2.5‑bath units
- Open‑concept interiors with kitchens featuring granite countertops and stainless steel appliances
- Luxury vinyl plank flooring installed throughout both levels
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
$23,792
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
6.54%
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%
$475,840
$475.8K
Cap Rate 7%
$339,886
$339.9K
Cap Rate 9%
$264,356
$264.4K
Market Conditions
NOI Build-Up for 2,662 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
$35.8K $13.44/SF
− Vacancy
−$1.8K −$0.67/SF
EGI
$34.0K $12.77/SF
− OpEx
−$10.2K −$3.83/SF
NOI
$23.8K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$475,840
Cap Rate 7%
$339,886
Cap Rate 9%
$264,356
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,792 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 6.02%
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,660 @ 7.0% cap · market cap 39.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 29388, SC
16,017
Population
7,466
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
97.2 sq mi
ZIP Area
165
Density / Sq Mi
$77,197
Median Household Income
$44,428
Median Earnings
$848
Median Rent
$216,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level units offer modern kitchens, private laundry hookups, and separate utility meters.
Where is this duplex located?
The property is located at 119-121 Cannon Street Woodruff, SC.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: 2025‑built duplex with two 3‑bedroom, 2.5‑bath units; Open‑concept interiors with kitchens featuring granite countertops and stainless steel appliances; Luxury vinyl plank flooring installed throughout both levels
