Redevelopment Townhome
For Sale
$975,000
328 Dupont Drive, Greenville, SC 29607
Includes a repurposable 3,500 SF building on 10.54 acres near Downtown Greenville.
Property Size3,500 SF
Lot Size0.54 Acres
Price / SF$278.57
Days on Market83
Property Features for 328 Dupont Drive
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.54 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$6,156
Listing Agency:
Spencer Hines Properties Grv.
(864) 991-8077
Listed By:
Zach Hines · License #58750
(864) 991-8077
Source:
Exprealty
Added: May 19
Changed: Aug 8
Last Checked: May 26 at 3:03AM
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 Spencer Hines Properties Grv.
Investment Insights
Based on property information with market context.
This redevelopment site totals 10.54 acres and was studied by an architect with preliminary due diligence supporting the possibility of up to 10 townhome units. The property also features an approximately 3,500 SF building that could be repurposed if desired. The site is described as having great topography to support redevelopment planning.
The property is located less than a mile from Downtown Greenville at 328 Dupont Drive. The combination of land area, the existing building, and the preliminary site study makes it a practical option for a multi-family townhome redevelopment near the downtown core.
The property is located less than a mile from Downtown Greenville at 328 Dupont Drive. The combination of land area, the existing building, and the preliminary site study makes it a practical option for a multi-family townhome redevelopment near the downtown core.
Key Highlights
- 10.54‑acre development site less than a mile from Downtown Greenville
- Preliminary architect due diligence study indicates possibility of 10 townhome units
- Includes a 3,500 SF building that could be repurposed
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
$31,820
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
3.26%
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%
$636,400
$636.4K
Cap Rate 7%
$454,571
$454.6K
Cap Rate 9%
$353,556
$353.6K
Market Conditions
NOI Build-Up for 3,500 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
$60.9K $17.40/SF
− Vacancy
−$3.0K −$0.87/SF
EGI
$57.9K $16.53/SF
− OpEx
−$26.0K −$7.44/SF
NOI
$31.8K $9.09/SF
Area
Greenville County, SC
Vacancy
5.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$636,400
Cap Rate 7%
$454,571
Cap Rate 9%
$353,556
Alternative Uses
Best Use
Apartment 5plus
$454.6K
$397.8K – $530.3K
NOI $31,820 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,679 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 29607, SC
44,216
Population
22,288
Households
2
Avg Household Size
35
Median Age
50%
College-Educated
94%
High-School Grad
29.0 sq mi
ZIP Area
1,525
Density / Sq Mi
$69,249
Median Household Income
$46,549
Median Earnings
$1,339
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Includes a repurposable 3,500 SF building on 10.54 acres near Downtown Greenville.
Where is this apartment building located?
The property is located at 328 Dupont Drive Greenville, SC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 10.54‑acre development site less than a mile from Downtown Greenville; Preliminary architect due diligence study indicates possibility of 10 townhome units; Includes a 3,500 SF building that could be repurposed
