Live-Work Property with Detached
For Sale
$225,000
155 Farrs Bridge Rd, Pickens, SC 29671
Two-bedroom residence with a separate shop and covered area supports combined personal and commercial use.
Property Size1,500 SF
Lot Size0.47 Acres
Price / SF$150
Days on Market39
Property Features for 155 Farrs Bridge Rd
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.47 Acres
Building Details
Year Built
1954
Building Size
1,500 SF
Listing Agency:
Real Local/Real Broker, LLC
Listed By:
Andrew Campbell · License #141636
(864) 710-8942
Source:
Greenvilleheartproperties
Added: Aug 2
Changed: Sep 8
Last Checked: Sep 7 at 12:06PM
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 Real Local/Real Broker, LLC
Investment Insights
Based on property information with market context.
Located at 155 Farrs Bridge Rd in Pickens, this live-work property combines a 1954-built, two-bedroom, one-bath residence with a detached shop/garage. The additional structure contains approximately 1,500 square feet plus 600 square feet of covered area, creating substantial room for storage, projects, equipment, or an owner-operated business setup. The property includes a 0.47-acre lot with space identified for parking, expansion, and outdoor use.
The separate shop component gives the property a distinct commercial dimension while the existing residence provides an on-site living arrangement. The address is on Farrs Bridge Road in Pickens, South Carolina.
The separate shop component gives the property a distinct commercial dimension while the existing residence provides an on-site living arrangement. The address is on Farrs Bridge Road in Pickens, South Carolina.
Key Highlights
- Live‑work classification with a 1954‑built residence
- Two‑bedroom, one‑bath home
- Detached shop/garage with approximately 1, 500 square feet
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
$15,525
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
6.90%
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%
$310,500
$310.5K
Cap Rate 7%
$221,786
$221.8K
Cap Rate 9%
$172,500
$172.5K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$24.8K $16.56/SF
− OpEx
−$9.3K −$6.21/SF
NOI
$15.5K $10.35/SF
Area
Pickens County, SC
Vacancy
8.00%
Lease Rate
$18.00 /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%
$310,500
Cap Rate 7%
$221,786
Cap Rate 9%
$172,500
Alternative Uses
Best Use
Mixed Use
$221.8K
$194.1K – $258.8K
NOI $15,525 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$71.8K
$62.8K – $83.8K
NOI $5,027 @ 7.0% cap · market cap 2.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 29671, SC
18,615
Population
8,371
Households
2.2
Avg Household Size
45
Median Age
17%
College-Educated
87%
High-School Grad
132.3 sq mi
ZIP Area
141
Density / Sq Mi
$65,429
Median Household Income
$36,041
Median Earnings
$917
Median Rent
$202,100
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?
Live-work space - Two-bedroom residence with a separate shop and covered area supports combined personal and commercial use.
Where is this live-work space located?
The property is located at 155 Farrs Bridge Rd Pickens, SC.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Live‑work classification with a 1954‑built residence; Two‑bedroom, one‑bath home; Detached shop/garage with approximately 1, 500 square feet
