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    Vault Motor Condos: Automotive Lifestyle Title is generated by Realmo AI

    24 Gladys Drive Unit 22, Greenville, SC 29607

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    For Sale
    $369,000

    Private, gated motor suites designed for automotive enthusiasts and collectors.

    Type:Commercial/Industrial / Commercial
    Property size:
    1,000 SF
    Price / SF:
    $369/SF
    Added:
    Apr 6, 2026
    Days on Market:
    56
    Last Refresh:
    May 16 at 12:06 am

    Property Features for 24 Gladys Drive Unit 22

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Property subtype
    Commercial/Industrial / Commercial

    We can help!

    Listing Contact
    Pam Foster

    Listing agent Pam Foster

    Listing office Encore Realty

    Listing date Apr 6, 2026

    Source Compass

    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 Encore Realty

    HighLights

    • Private, gated community designed exclusively for automotive enthusiasts and collectors.
    • Climate‑controlled motor suites with roughly 1,000 sq ft of customizable space and 19‑foot ceilings.
    • Fully deeded ownership offering a bespoke space within a unique community.
    • Equipped with a 14’ x 16’ automatic overhead garage door, 200 AMP service, and rough‑in plumbing for a full bath.
    • Ideal for housing and showcasing exotic vehicles, motorcycles, boats, RVs, and other high‑value assets.
    • Opportunity to combine multiple units for a larger, personalized environment.

    Overview

    The Vault Motor Condos in Greenville offers private, gated motor suites designed for the automotive lifestyle. These climate-controlled units are tailored for collectors, enthusiasts, and those who appreciate precision and design. Each residence measures approximately 20 feet wide by 50 feet deep, featuring 19-foot ceilings and roughly 1,000 square feet of customizable space. Units include a 14-foot wide x 16-foot high automatic overhead garage door, a commercial-grade 3070 walk-in door, and a high-efficiency mini-split HVAC system. Each unit is equipped with a 200 AMP service panel with a dedicated electric meter, rough-in plumbing for a full bath and shower, LED commercial lighting, an overhead fan, and GFCI outlets throughout. The walls are fully insulated, and the flooring is reinforced concrete. These motor condos can be customized with options such as a private lounge, executive office, custom bar, gourmet kitchen, or entertainment suite. They are suitable for housing and showcasing exotic vehicles, motorcycles, boats, RVs, and other high-value assets. Multiple units may be combined to create larger environments.
    Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Enterprise Rent-A-Car — 531woodruff Road, Greenville, SC 29607
    • Enterprise Truck Rental — 531 Woodruff Rd, Greenville, SC 29607
    • U-Haul Moving & Storage of East Greenville — 24 Roper Mountain Rd, Greenville, SC 29607
    • Trailer Rental at U-Haul — 24 Roper Mountain Rd, Greenville, SC 29607
    • Truck Rental at U-Haul — 24 Roper Mountain Rd, Greenville, SC 29607

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3295921
    Latitude
    34.8458719

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    FAQs

    What type of property is this?
    Parking lot & garage - Private, gated motor suites designed for automotive enthusiasts and collectors.
    Where is this parking lot & garage located?
    The property is located at 24 Gladys Drive Unit 22 Greenville, SC.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: Private, gated community designed exclusively for automotive enthusiasts and collectors.; Climate‑controlled motor suites with roughly 1,000 sq ft of customizable space and 19‑foot ceilings.; Fully deeded ownership offering a bespoke space within a unique community.
    (864) 326-5047
    We can help!
    Listing Contact
    Pam Foster
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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