Zoned C-2 Brick Ranch
For Sale
$449,000
1504 E Rutherford Street, Landrum, SC 29356
Commercial/Industrial, Landrum, SC
Property Size1,875 SF
Lot Size1.59 Acres
Price / SF$239.47
Days on Market34
Property Features for 1504 E Rutherford Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
015
Standard status
Active
APN
1-08-03-002.00
Lot size
1.59 Acres
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Flooring type
Linoleum, Wood, Tile
Building materials
Brick
Roof type
Aluminum
Listing Agency:
Keller Williams Realty
(864) 574-6000
Listed By:
Michelle Manion · License #103073
(864) 804-7054
Added: Jul 19
Changed: Aug 19
Last Checked: Aug 21 at 12:06PM
MLS# 1592392
Copyright © 2026 Greater Greenville 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 property is a brick ranch home with 4 bedrooms and 2.5 bathrooms, accompanied by a full unfinished basement. The residence includes approximately 1,875 square feet of finished living area, with the basement providing additional space suitable for storage, a workshop, or future expansion depending on the buyer’s plans. Outside, the property includes a fenced backyard and additional land area that can support parking, equipment storage, or other improvements.
The site spans 1.59 acres and offers road frontage on both E Rutherford Street and Kirby Street. It is located in the heart of downtown Landrum near shops, restaurants, schools, parks, and everyday conveniences. The property is zoned C-2, supporting a range of residential, office, business, investment, or mixed-use possibilities. Public water is connected, and public sewer is available, though the home is currently serviced by septic.
For buyers seeking a live-work arrangement, office or business use, or a conversion-minded setup, the combination of a functional ranch layout and a full unfinished basement can help accommodate different operating needs. The two-street frontage and C-2 zoning add flexibility for future use planning, subject to approvals. The property is being sold as-is, and appointments are required—please do not walk the property without scheduling a showing.
The site spans 1.59 acres and offers road frontage on both E Rutherford Street and Kirby Street. It is located in the heart of downtown Landrum near shops, restaurants, schools, parks, and everyday conveniences. The property is zoned C-2, supporting a range of residential, office, business, investment, or mixed-use possibilities. Public water is connected, and public sewer is available, though the home is currently serviced by septic.
For buyers seeking a live-work arrangement, office or business use, or a conversion-minded setup, the combination of a functional ranch layout and a full unfinished basement can help accommodate different operating needs. The two-street frontage and C-2 zoning add flexibility for future use planning, subject to approvals. The property is being sold as-is, and appointments are required—please do not walk the property without scheduling a showing.
Key Highlights
- Brick ranch on 1.59 acres with road frontage on both E Rutherford St and Kirby St
- 4 bedrooms and 2.5 bathrooms with approximately 1,875 SF of living space
- Full unfinished basement for storage, workshop space, or potential future finishing (sold as‑is)
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
$28,984
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
6.46%
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%
$579,680
$579.7K
Cap Rate 7%
$414,057
$414.1K
Cap Rate 9%
$322,044
$322.0K
Market Conditions
NOI Build-Up for 1,875 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
$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 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%
$579,680
Cap Rate 7%
$414,057
Cap Rate 9%
$322,044
Alternative Uses
Best Use
Office B
$414.1K
$362.3K – $483.1K
NOI $28,984 @ 7.0% cap · market cap 6.46%
Second Best
Mixed Use
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$1.46M
$1.27M – $1.70M
NOI $101,892 @ 7.0% cap · market cap 22.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Brick ranch on 1.59 acres with C-2 zoning, two-street frontage, and an unfinished basement for flexible future use.
Where is this single family property located?
The property is located at 1504 E Rutherford Street 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: Brick ranch on 1.59 acres with road frontage on both E Rutherford St and Kirby St; 4 bedrooms and 2.5 bathrooms with approximately 1,875 SF of living space; Full unfinished basement for storage, workshop space, or potential future finishing (sold as‑is)
