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    325 Tanner Price Way Greenville, SC

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    Mixed-use development near Topgolf, Michelin, and BMW Manufacturing.

    Type:INDUSTRIAL
    Property size:
    135,125 SF
    Lot size:
    2.40 Acres
    Added:
    May 21, 2024
    Days on Market:
    716
    Last Refresh:
    Apr 5 at 11:16 pm

    Property Features for 325 Tanner Price Way

    General Information

    Standard status
    Active
    Size
    135,125 SF
    Lot size
    2.40 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 325 Tanner Price Way Contact us

    We can help!

    Listing Contact
    Neil Wilson

    Listing agent Neil Wilson

    Listing office RealtyLink - Corporate

    Listing date May 21, 2024

    Source Moodyscre

    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 RealtyLink - Corporate

    HighLights

    • Anchored by Topgolf, a major entertainment destination ensuring significant traffic.
    • Strategic location along the I‑85 corridor and Pelham Road’s major retail corridor.
    • Zoned for mixed‑use development including restaurant, hotel, industrial, and entertainment.
    • Proximity to major employers such as Michelin, BMW Manufacturing, and General Electric.
    • Significant infrastructure investment enhancing accessibility.
    • Topgolf's strong financial performance indicates a stable and successful anchor tenant.

    Overview

    Topgolf-Anchored Development Opportunity

    This mixed-use development is anchored by Topgolf, a global sports entertainment community with over 60 locations throughout the United States. Topgolf, headquartered in Dallas, Texas, generated approximately $1.1 billion in revenue in 2019 and has experienced a 30% compound annual growth rate since 2017. The property is zoned for restaurant, hotel, industrial, and entertainment uses. It is strategically located along Pelham Road’s major retail corridor, offering regional positioning along the I-85 corridor between Atlanta and Charlotte. The site benefits from close proximity to Michelin, BMW Manufacturing, and General Electric. The I-85/385 Gateway Project, a $231 million road improvement project, is underway surrounding the property. The property offers 135125 square feet of space and is positioned within a high-traffic area. Topgolf is the first in the state of South Carolina with over 400,000 annual visits expected.
    Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3343
    Latitude
    34.8742

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    FAQs

    What type of property is this?
    Industrial property - Mixed-use development near Topgolf, Michelin, and BMW Manufacturing.
    Where is this industrial property located?
    The property is located at 325 Tanner Price Way Greenville, SC.
    What are key features of this property?
    This property features: Anchored by **Topgolf**, a major entertainment destination ensuring significant traffic.; Strategic location along the I‑85 corridor and Pelham Road’s major retail corridor.; Zoned for mixed‑use development including restaurant, hotel, industrial, and entertainment.
    (864) 304-8619 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Neil Wilson
    Learn More
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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.

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