Two-Building Strip
For Sale
$939,000
1219 NE ByPass 72, Greenwood, SC 29649
Commercial Sale, Greenwood, SC
Property Size8,420 SF
Lot Size2.32 Acres
Price / SF$111.52
Days on Market94
Property Features for 1219 NE ByPass 72
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Subdivision
Greenwood 1N
Standard status
Active
Size
8,420 SF
Lot size
2.32 Acres
Taxes and HOA fees
Tax Annual Amount
17016
Building Details
Year built
1986
Listing Agency:
Susan Long Realty, LLC
Listed By:
Susan Long · License #17925
(864) 992-8987
Added: Jun 13
Changed: Sep 9
Last Checked: Sep 14 at 9:06AM
MLS# 140025
Copyright © 2026 Greenwood Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This strip mall property comprises two retail buildings totaling 8,420 square feet. Built in 1986, the commercial improvements are situated on a GC-zoned site and are reported as 100% occupied. An additional lot is included, providing separate land within the property for future development or expansion planning.
The property is located at 1219 NE ByPass 72 in Greenwood, South Carolina. Its established retail configuration, existing occupancy, and accompanying lot create a straightforward commercial asset with both operating improvements and additional land.
The property is located at 1219 NE ByPass 72 in Greenwood, South Carolina. Its established retail configuration, existing occupancy, and accompanying lot create a straightforward commercial asset with both operating improvements and additional land.
Key Highlights
- Two retail buildings totaling 8,420 square feet
- 100% occupied
- GC zoning
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
$38,837
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
4.14%
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%
$776,740
$776.7K
Cap Rate 7%
$554,814
$554.8K
Cap Rate 9%
$431,522
$431.5K
Market Conditions
NOI Build-Up for 8,420 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
$85.9K $10.20/SF
− Vacancy
−$30.4K −$3.61/SF
EGI
$55.5K $6.59/SF
− OpEx
−$16.6K −$1.98/SF
NOI
$38.8K $4.61/SF
Area
Greenwood County, SC
Vacancy
35.40%
Lease Rate
$10.20 /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%
$776,740
Cap Rate 7%
$554,814
Cap Rate 9%
$431,522
Alternative Uses
Best Use
Retail
$554.8K
$485.5K – $647.3K
NOI $38,837 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.65M
$2.31M – $3.09M
NOI $185,153 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
142k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 42%
QuikTrip
Shops & Services
27,202 visits/mo
0.2 miles
McDonald's
Dining
23,734 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
17,837 visits/mo
0.4 miles
SONIC Drive In
Dining
15,167 visits/mo
0.4 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
11,467 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - GC-zoned commercial property with full occupancy and an additional lot for future development.
Where is this strip mall located?
The property is located at 1219 NE ByPass 72 Greenwood, SC.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Two retail buildings totaling 8,420 square feet; 100% occupied; GC zoning
