Building Details

Construction brick

Listing Agency: Keller Williams Realty

Listed By: Michelle Manion · License #103073 Show Phone

Source: Greenvilleheartproperties

Added: Nov 3 Changed: Nov 4 Last Checked: Aug 25 at 4:47AM

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Investment Insights

Based on property information with market context.

This mixed-use property includes a 4-bedroom, 2.5-bath brick ranch with approximately 1,875 square feet and a full unfinished basement. The residence is zoned C-2, and the property is offered as-is. Public water is connected; public sewer is available, while the home is currently serviced by septic.

The 1.59-acre site has road frontage on both E Rutherford Street and Kirby Street. A fenced backyard and the unfinished basement are existing features of the property.

Key Highlights

• 1.59 acres with road frontage on both E Rutherford Street and Kirby Street
• C‑2 zoning
• Brick ranch with 4 bedrooms and 2.5 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,984

Cap Rate

6.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$579,680 $579.7K

Cap Rate 7%

$414,057 $414.1K

Cap Rate 9%

$322,044 $322.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,875 SF

Gross rent

$45.2K $24.12/SF

− Vacancy

−$6.6K −$3.51/SF

EGI

$38.6K $20.61/SF

− OpEx

−$9.7K −$5.15/SF

NOI

$29.0K $15.46/SF

Area

Spartanburg County, SC

Vacancy

14.55%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$579,680

Cap Rate 7%

$414,057

Cap Rate 9%

$322,044

Alternative Uses

Best Use

Office B

$414.1K

$362.3K – $483.1K (±1% cap)

NOI $28,984 @ 7.0% cap · market cap 6.46%

Second Best

Mixed Use

$353.6K

$309.4K – $412.5K (±1% cap)

NOI $24,750 @ 7.0% cap · market cap 5.51%

Theoretical Best

Warehouse

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,892 @ 7.0% cap · market cap 22.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Live-work space

Suggested Use

Top Pick Law Firm Electrical Service Auto Parts Store Building Supply Big Box & Wholesale Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

151

Businesses Nearby

Explore this area Business Placement

Demographics for 29356, SC

8,893

Population

4,434

Households

2

Avg Household Size

51

Median Age

35%

College-Educated

90%

High-School Grad

82.1 sq mi

ZIP Area

108

Density / Sq Mi

$60,911

Median Household Income

$43,119

Median Earnings

$632

Median Rent

$273,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A fenced 1.59-acre parcel with public water connected and public sewer available; the home currently uses septic.

Where is this mixed-use property located?

The property is located at 1504 E Rutherford St Landrum, SC.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 1.59 acres with road frontage on both E Rutherford Street and Kirby Street; C‑2 zoning; Brick ranch with 4 bedrooms and 2.5 bathrooms