Gas Station Retail
For Sale
Contact for pricing
Pending
1500 E Greenville St, Anderson, SC 29621
Zoned GC - General Commercial with two access points from E. Greenville Street and Windsor Place.
Property Size843 SF
Days on Market831
Property Features for 1500 E Greenville St
General Information
Standard status
Pending
Size
843 SF
Property subtype
RETAIL
Zoning
GC
Additional Details
Traffic Count
24,800 vehicles/day
Listing Agency:
NAI | Charleston
(843) 720-4944
Listed By:
Michael S Branch · License #115544
(843) 224-3768
Source:
Moodyscre
Added: Jun 7, 2024
Changed: Sep 8
Last Checked: Sep 14 at 11:43AM
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 NAI | Charleston
Investment Insights
Based on property information with market context.
This property is listed for sale as a gas station and retail-focused commercial site, with approximately 843 square feet of space on the premises.
The site is approximately two miles from downtown Anderson and offers two access points via E. Greenville Street and via Windsor Place. Traffic is listed at approximately 24,800 VPD. The property is zoned GC - General Commercial for the City of Anderson.
With frontage and multiple ingress/egress options from major local access points, the configuration is suited for commercial uses contemplated under the existing zoning.
The site is approximately two miles from downtown Anderson and offers two access points via E. Greenville Street and via Windsor Place. Traffic is listed at approximately 24,800 VPD. The property is zoned GC - General Commercial for the City of Anderson.
With frontage and multiple ingress/egress options from major local access points, the configuration is suited for commercial uses contemplated under the existing zoning.
Key Highlights
- Zoned GC – General Commercial (City of Anderson)
- Two access points via E. Greenville Street and via Windsor Place
- Approximately 2 miles from downtown Anderson
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
$37,995
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
6.33%
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%
$759,900
$759.9K
Cap Rate 7%
$542,786
$542.8K
Cap Rate 9%
$422,167
$422.2K
Market Conditions
NOI Build-Up for 843 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
$57.3K $67.92/SF
− Vacancy
−$3.0K −$3.53/SF
EGI
$54.3K $64.39/SF
− OpEx
−$16.3K −$19.32/SF
NOI
$38.0K $45.07/SF
Area
Anderson County, SC
Vacancy
5.20%
Lease Rate
$67.92 /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%
$759,900
Cap Rate 7%
$542,786
Cap Rate 9%
$422,167
Alternative Uses
Best Use
Industrial
$542.8K
$474.9K – $633.3K
NOI $37,995 @ 7.0% cap · market cap 6.33%
Second Best
Retail
$243.8K
$213.3K – $284.4K
NOI $17,066 @ 7.0% cap · market cap 2.84%
Theoretical Best
Multifamily LT 5
$9.13M
$7.99M – $10.65M
NOI $638,912 @ 7.0% cap · market cap 106.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
24,800 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
359
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Gas station - Zoned GC - General Commercial with two access points from E. Greenville Street and Windsor Place.
Where is this gas station located?
The property is located at 1500 E Greenville St Anderson, SC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Zoned GC – General Commercial (City of Anderson); Two access points via E. Greenville Street and via Windsor Place; Approximately 2 miles from downtown Anderson
