52-Bed Assisted Living
For Sale
Contact for pricing
2802 Mccords Ferry Rd, Eastover, SC 29044
Existing parking and a substantial building support an assisted living operation in Richland County.
Property Size21,475 SF
Lot Size7.32 Acres
Price / SF$162.98
Days on Market1079
Property Features for 2802 Mccords Ferry Rd
General Information
Standard status
Active
Size
21,475 SF
Lot size
7.32 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Wilson Kibler | Greenville
(803) 447-6898
Listed By:
Robert Carter · License #77147
Source:
Moodyscre
Added: Sep 18, 2023
Changed: Aug 30
Last Checked: Aug 31 at 1:19PM
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 Wilson Kibler | Greenville
Investment Insights
Based on property information with market context.
This assisted living facility provides 52 beds within approximately 21,475 square feet on roughly 7.32 acres. The property includes ample parking and is situated in Richland County, offering a substantial site and existing improvements for senior-care operations.
Access is provided near the connection of Highway 378/Garners Ferry Road and Highway 601/McCords Ferry Road. Recorded 2020 traffic volumes are 19,532 VPD on Garners Ferry Road and 5,086 VPD on McCords Ferry Road. The surrounding two-mile area has a median age of 42, adding demographic context for evaluating the facility’s setting.
Access is provided near the connection of Highway 378/Garners Ferry Road and Highway 601/McCords Ferry Road. Recorded 2020 traffic volumes are 19,532 VPD on Garners Ferry Road and 5,086 VPD on McCords Ferry Road. The surrounding two-mile area has a median age of 42, adding demographic context for evaluating the facility’s setting.
Key Highlights
- 52‑bed assisted living facility
- Approximately 21,475 SF on approximately 7.32 AC
- Near Highway 378/Garners Ferry Rd. and Highway 601/McCords Ferry Rd.
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
$166,007
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
4.74%
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%
$3,320,140
$3.3M
Cap Rate 7%
$2,371,529
$2.4M
Cap Rate 9%
$1,844,522
$1.8M
Market Conditions
NOI Build-Up for 21,475 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
$322.1K $15.00/SF
− Vacancy
−$20.3K −$0.95/SF
EGI
$301.8K $14.06/SF
− OpEx
−$135.8K −$6.32/SF
NOI
$166.0K $7.73/SF
Area
Richland County, SC
Vacancy
6.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,320,140
Cap Rate 7%
$2,371,529
Cap Rate 9%
$1,844,522
Alternative Uses
Best Use
Apartment 5plus
$2.37M
$2.08M – $2.77M
NOI $166,007 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.85M
$4.24M – $5.65M
NOI $339,192 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29044, SC
4,993
Population
2,536
Households
2
Avg Household Size
47
Median Age
15%
College-Educated
86%
High-School Grad
137.1 sq mi
ZIP Area
36
Density / Sq Mi
$53,709
Median Household Income
$30,313
Median Earnings
$1,084
Median Rent
$112,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Existing parking and a substantial building support an assisted living operation in Richland County.
Where is this assisted living facility located?
The property is located at 2802 Mccords Ferry Rd Eastover, SC.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 52‑bed assisted living facility; Approximately 21,475 SF on approximately 7.32 AC; Near Highway 378/Garners Ferry Rd. and Highway 601/McCords Ferry Rd.
