Auto Shop and Salvage
New
For Sale
$1,599,000
314 S Hwy 221, Greenwood, SC 29646
COMMERCIAL - Greenwood, SC
Property Size12,000 SF
Lot Size34.88 Acres
Price / SF$133.25
Days on Market2
Property Features for 314 S Hwy 221
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R1
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
12,000 SF
Lot size
34.88 Acres
Amenities
on-site residence
pond
Building Details
Year built
1963
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Renee Simchon
(864) 388-0202
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 6:06PM
MLS# 140339
Copyright © 2026 Greenwood 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 automotive property combines operating facilities with substantial land and supporting improvements. The 12,000-square-foot property includes shop buildings, a garage, and an office building serving vehicle processing, parts handling, repair work, and daily administration. A two-bedroom residence is also located on the site.
The property encompasses 34.88 acres at 314 S Hwy 221 in Greenwood, South Carolina, with a 2-acre pond. Constructed in 1963, the site is identified with R1 zoning. The offering includes the real estate, operating infrastructure, and equipment associated with the auto salvage operation.
The property encompasses 34.88 acres at 314 S Hwy 221 in Greenwood, South Carolina, with a 2-acre pond. Constructed in 1963, the site is identified with R1 zoning. The offering includes the real estate, operating infrastructure, and equipment associated with the auto salvage operation.
Key Highlights
- 34.88 acres at 314 S Hwy 221, Greenwood, SC 29646
- 12,000 Square Feet of property improvements
- Shop buildings and garage for vehicle processing, parts handling, and repair work
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
$70,686
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
4.42%
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%
$1,413,720
$1.4M
Cap Rate 7%
$1,009,800
$1.0M
Cap Rate 9%
$785,400
$785.4K
Market Conditions
NOI Build-Up for 12,000 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
$108.0K $9.00/SF
− Vacancy
−$7.0K −$0.59/SF
EGI
$101.0K $8.42/SF
− OpEx
−$30.3K −$2.52/SF
NOI
$70.7K $5.89/SF
Area
Greenwood County, SC
Vacancy
6.50%
Lease Rate
$9.00 /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%
$1,413,720
Cap Rate 7%
$1,009,800
Cap Rate 9%
$785,400
Alternative Uses
Best Use
Office B
$2.93M
$2.56M – $3.41M
NOI $204,761 @ 7.0% cap · market cap 12.81%
Second Best
Industrial
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $263,877 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- J C's Truck and Auto Center, LLC — 317 US-221, Greenwood, SC 29646
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- Emerald Glass — 2716 US-25, Greenwood, SC 29646
- A & J Auto Service — 2821 US-25, Greenwood, SC 29646
Frequently Asked Questions
What type of property is this?
Auto shop - Operational automotive property with shop, garage, office, and an on-site residence.
Where is this auto shop located?
The property is located at 314 S Hwy 221 Greenwood, SC.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 34.88 acres at 314 S Hwy 221, Greenwood, SC 29646; 12,000 Square Feet of property improvements; Shop buildings and garage for vehicle processing, parts handling, and repair work
