Light Industrial Flex
New
For Sale
$295,000
1224 W Deadfall Rd, Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size2,400 SF
Lot Size4.50 Acres
Price / SF$122.92
Days on Market2
Property Features for 1224 W Deadfall Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
2,400 SF
Lot size
4.50 Acres
Taxes and HOA fees
Tax Annual Amount
878
Building Details
Year built
2004
Listing Agency:
RE/MAX ACTION REALTY · RE/MAX International
(864) 942-0021
Listed By:
Bubba Harvin · License #13033
(864) 992-9090
Added: Sep 14
Last Checked: Sep 15 at 4:06AM
MLS# 140560
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 flex property combines a 2,400-square-foot metal building with practical shop, storage, and office components. The improvements include two 12-foot roll-up doors, a covered work or storage area, restroom facilities, and heated and cooled office space. Built in 2004, the building is positioned on 4.5 acres and supports a range of light industrial, trade, service, equipment, and storage functions.
Zoned I-1, the property offers room for outdoor storage, equipment parking, and future expansion. Its configuration provides a dedicated work area along with enclosed office space, making it suitable for businesses that need both operational and administrative accommodations at one location.
Zoned I-1, the property offers room for outdoor storage, equipment parking, and future expansion. Its configuration provides a dedicated work area along with enclosed office space, making it suitable for businesses that need both operational and administrative accommodations at one location.
Key Highlights
- 4.5‑acre tract with a 2,400‑square‑foot metal building
- Two 12‑foot roll‑up doors
- Heated and cooled office space with restroom facilities
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
$17,167
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
5.82%
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%
$343,340
$343.3K
Cap Rate 7%
$245,243
$245.2K
Cap Rate 9%
$190,744
$190.7K
Market Conditions
NOI Build-Up for 2,400 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
$21.6K $9.00/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$20.2K $8.42/SF
− OpEx
−$3.0K −$1.26/SF
NOI
$17.2K $7.15/SF
Area
Greenwood County, SC
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$343,340
Cap Rate 7%
$245,243
Cap Rate 9%
$190,744
Alternative Uses
Best Use
Warehouse
$245.2K
$214.6K – $286.1K
NOI $17,167 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$753.9K
$659.7K – $879.6K
NOI $52,775 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Metal shop with office, covered work area, and light industrial zoning on a sizable acreage tract.
Where is this flex space located?
The property is located at 1224 W Deadfall Rd Greenwood, SC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 4.5‑acre tract with a 2,400‑square‑foot metal building; Two 12‑foot roll‑up doors; Heated and cooled office space with restroom facilities
