New Construction Two-Unit
For Sale
$394,999
267 Vanderbilt Road, Spartanburg, SC 29301
Modern interiors, separate utility meters, and parking for at least two vehicles per unit support practical ownership.
Property Size2,662 SF
Price / SF$148.38
Days on Market198
Property Features for 267 Vanderbilt Road
General Information
Standard status
Active
Size
2,662 SF
Property subtype
Multi-Family / Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,106
Amenities
trail
in-unit laundry
Electric
Central Forced, Electric
Electric, Forced Air
Architectural
2
Private
Hardboard Siding
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Keller Williams Greenville Central
(864) 400-4200
Listed By:
Santiago Hernandez · License #47176
Source:
Compass
Added: Feb 14
Changed: Aug 30
Last Checked: Aug 30 at 9:40PM
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 Keller Williams Greenville Central
Investment Insights
Based on property information with market context.
Built in 2025, this two-unit duplex contains 2,662 square feet with matching residences designed around open living and kitchen areas. Each unit offers three bedrooms, 2.5 bathrooms, a primary suite with private bath, and laundry hookups. Interior finishes include granite countertops, soft-close cabinetry, stainless steel appliances, and luxury vinyl plank flooring across both levels. Separate electric utility meters serve the units, and each residence has parking for at least two vehicles.
The property is situated at 267 Vanderbilt Road in Spartanburg, just off Main Street and Hwy 29. The Hwy 29 corridor provides access to restaurants, grocery stores, major retailers, and Westgate Mall. Trailside at Three Creeks runs directly behind the property, adding a nearby outdoor and exercise amenity.
The property is situated at 267 Vanderbilt Road in Spartanburg, just off Main Street and Hwy 29. The Hwy 29 corridor provides access to restaurants, grocery stores, major retailers, and Westgate Mall. Trailside at Three Creeks runs directly behind the property, adding a nearby outdoor and exercise amenity.
Key Highlights
- 2025 construction with 2,662 SF across a two‑unit duplex
- Each unit includes 3 bedrooms and 2.5 bathrooms
- Open‑concept interiors with granite, soft‑close cabinetry, stainless appliances, and luxury vinyl plank flooring
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
$23,792
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
6.02%
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%
$475,840
$475.8K
Cap Rate 7%
$339,886
$339.9K
Cap Rate 9%
$264,356
$264.4K
Market Conditions
NOI Build-Up for 2,662 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
$35.8K $13.44/SF
− Vacancy
−$1.8K −$0.67/SF
EGI
$34.0K $12.77/SF
− OpEx
−$10.2K −$3.83/SF
NOI
$23.8K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$475,840
Cap Rate 7%
$339,886
Cap Rate 9%
$264,356
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,792 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 5.55%
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,660 @ 7.0% cap · market cap 36.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 29301, SC
34,531
Population
16,020
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
87%
High-School Grad
27.5 sq mi
ZIP Area
1,256
Density / Sq Mi
$56,606
Median Household Income
$37,761
Median Earnings
$1,126
Median Rent
$200,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Modern interiors, separate utility meters, and parking for at least two vehicles per unit support practical ownership.
Where is this duplex located?
The property is located at 267 Vanderbilt Road Spartanburg, SC.
What is the asking price?
The asking price for this property is $394,999.
What are key features of this property?
This property features: 2025 construction with 2,662 SF across a two‑unit duplex; Each unit includes 3 bedrooms and 2.5 bathrooms; Open‑concept interiors with granite, soft‑close cabinetry, stainless appliances, and luxury vinyl plank flooring
