Acreage with Workshop and Mobile
For Sale
$179,900
2874 Carmel Court, York, SC 29745
Approximately 5.79 acres with cleared building areas, a 25x40x17 powered workshop, and a single-wide mobile home on site.
Property Size1,000 SF
Lot Size5.79 Acres
Price / SF$179.90
Days on Market344
Property Features for 2874 Carmel Court
General Information
Standard status
Active
Size
1,000 SF
Lot size
5.79 Acres
Property subtype
Land / Unimproved Land
Zoning
RUD
Additional Details
Utilities to Site
Yes
Clear Height
17 ft
Taxes and HOA fees
Annual Taxes
$585
Amenities
***
Listing Agency:
Bluefield Realty Group
(440) 315-3011
Listed By:
Anthony Ferreri · License #127025
Source:
Compass
Added: Aug 31, 2025
Changed: Aug 8
Last Checked: Mar 25 at 8:27PM
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 Bluefield Realty Group
Investment Insights
Based on property information with market context.
This approximately 5.79-acre property includes several cleared areas surrounded by lightly wooded sections with mostly young growth. A 25x40x17 workshop is on site with concrete flooring, power, and roll-up doors, suitable for vehicle storage, hobbies, or small business use. A 1987 single-wide mobile home is also present and will convey as private property, though it requires substantial renovation.
Utilities are in place, including a well and septic system, along with power. The property does not have an HOA, and it is described as being minutes from downtown York with quick access to shopping and schools.
The offering includes items to remain such as the shop, the single-wide, and a fixed patio/pavilion structure. The seller states all personal property will be removed before closing.
Utilities are in place, including a well and septic system, along with power. The property does not have an HOA, and it is described as being minutes from downtown York with quick access to shopping and schools.
The offering includes items to remain such as the shop, the single-wide, and a fixed patio/pavilion structure. The seller states all personal property will be removed before closing.
Key Highlights
- 5.79‑acre property with several cleared areas and lightly wooded sections with mostly young growth
- Potential to subdivide into one‑acre lots (per listing description)
- 25x40x17 workshop with concrete flooring, power, and roll‑up doors
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
$10,864
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
6.04%
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%
$217,280
$217.3K
Cap Rate 7%
$155,200
$155.2K
Cap Rate 9%
$120,711
$120.7K
Market Conditions
NOI Build-Up for 1,000 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
$14.3K $14.28/SF
− Vacancy
−$1.5K −$1.50/SF
EGI
$12.8K $12.78/SF
− OpEx
−$1.9K −$1.92/SF
NOI
$10.9K $10.86/SF
Area
York County, SC
Vacancy
10.50%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$217,280
Cap Rate 7%
$155,200
Cap Rate 9%
$120,711
Alternative Uses
Best Use
Warehouse
$155.2K
$135.8K – $181.1K
NOI $10,864 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$235.2K
$205.8K – $274.4K
NOI $16,461 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 29745, SC
32,602
Population
13,765
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
135.8 sq mi
ZIP Area
240
Density / Sq Mi
$75,665
Median Household Income
$42,676
Median Earnings
$961
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Approximately 5.79 acres with cleared building areas, a 25x40x17 powered workshop, and a single-wide mobile home on site.
Where is this residential land & home lot located?
The property is located at 2874 Carmel Court York, SC.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 5.79‑acre property with several cleared areas and lightly wooded sections with mostly young growth; Potential to subdivide into one‑acre lots (per listing description); 25x40x17 workshop with concrete flooring, power, and roll‑up doors
