Versatile Mixed-Use Property with
For Sale
$750,000
4327 Old Mill Rd, Anderson, SC 29621
Three-level commercial property with residential area and office space.
Property Size5,000 SF
Lot Size0.48 Acres
Price / SF$150
Days on Market506
Property Features for 4327 Old Mill Rd
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.48 Acres
Taxes and HOA fees
Annual Taxes
$1,326
Listing Agency:
Silver Star Real Estate
(864) 617-5463
Listed By:
David Phillips · License #22878
(864) 617-5463
Source:
Exprealty
Added: Mar 24, 2025
Changed: Aug 8
Last Checked: Jul 20 at 4:08PM
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 Silver Star Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property offers over 5,000 square feet across three levels, featuring both residential and office spaces. The main level includes a complete residential area with the potential for conversion to office space. It features a kitchen with a fireplace, an island with workspace and eat-in counter space with Corian countertops, leaded glass doors on cabinetry, and a closet laundry area. There are two full baths and two bedrooms. The upper level, accessible via an exterior balcony or interior stairs, benefits from natural and recessed lighting. Both the main and upper levels have custom plantation shutters. This level includes multiple offices, a full bath with a shower, built-in bookcases, ample closet space, an atrium, French doors, and hardwood floors. The lower level provides office or flex space, a full bath with a shower, and a kitchen area. It also has a garage space with a roll-up door suitable for parking one vehicle, accessible from inside the building and via an exterior entrance. The property's adaptability makes it suitable for various business uses.
Key Highlights
- Over 5,000 sq ft of adaptable commercial/residential space on three levels.
- Includes a complete residential area with two bedrooms and two full baths.
- Features multiple offices, storage, and flexible spaces suitable for various business needs.
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
$62,438
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
8.33%
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%
$1,248,760
$1.2M
Cap Rate 7%
$891,971
$892.0K
Cap Rate 9%
$693,756
$693.8K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$8.1K −$1.62/SF
EGI
$99.9K $19.98/SF
− OpEx
−$37.5K −$7.49/SF
NOI
$62.4K $12.49/SF
Area
Anderson County, SC
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,248,760
Cap Rate 7%
$891,971
Cap Rate 9%
$693,756
Alternative Uses
Best Use
Apartment 5plus
$47.57M
$41.63M – $55.50M
NOI $3,330,219 @ 7.0% cap · market cap 444.03%
Second Best
Office B
$1.18M
$1.03M – $1.37M
NOI $82,308 @ 7.0% cap · market cap 10.97%
Theoretical Best
Multifamily LT 5
$54.14M
$47.37M – $63.16M
NOI $3,789,513 @ 7.0% cap · market cap 505.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Explore this area
Business Placement
Demographics for 29621, SC
44,601
Population
18,960
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
87.1 sq mi
ZIP Area
512
Density / Sq Mi
$71,446
Median Household Income
$41,773
Median Earnings
$1,023
Median Rent
$252,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level commercial property with residential area and office space.
Where is this mixed-use property located?
The property is located at 4327 Old Mill Rd Anderson, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Over 5,000 sq ft of adaptable commercial/residential space on three levels.; Includes a complete residential area with **two bedrooms and two full baths**.; Features multiple offices, storage, and flexible spaces suitable for various business needs.
