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    Highway 11 Development Opportunity Title is generated by Realmo AI

    351 Highway 11, Landrum, SC 29356

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    Claim this Listing
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    For Sale
    $1,900,000

    Commercial - Landrum, SC

    Lot size:
    77.30 Acres
    Added:
    May 26, 2026
    Days on Market:
    4
    Last Refresh:
    May 29 at 2:06 pm

    Property Features for 351 Highway 11

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    0627020100300
    Lot size
    77.30 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Edward Weathers

    Listing agent Edward Weathers

    Listing office National Land Realty, Greenville, SC 7001 Pelham Road, Greenville, SC

    Listing date May 26, 2026

    MLS# 11795910 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare 77.3 +/- acre development opportunity in a highly desirable Upstate location.
    • Extensive road frontage: over 1,400 feet on Highway 11 and over 3,000 feet on Arledge Road, enhancing accessibility and visibility.
    • Ideal for various developments: high‑end estate subdivision, equestrian community, or luxury residential development due to gentle rolling topography.
    • Unzoned land with available public water and fiber optic service along Arledge Road.
    • Stunning Blue Ridge Mountain views and proximity to recreational amenities: Links O'Tryon Golf Club, The Cliffs at Glassy, and Tryon International Equestrian Center.
    • Convenient location: close to Landrum, Tryon, Travelers Rest, Spartanburg, and Greenville, combining privacy and accessibility.

    Overview

    This 77.3 +/- acre tract is located at the corner of Highway 11 and Arledge Road, just outside of Landrum and Gowensville. The property offers development potential in a desirable Upstate area. It features over 1,400 feet of frontage on Highway 11 and more than 3,000 feet along Arledge Road, providing accessibility and visibility. Arledge Road bisects the tract. The land has gentle rolling topography, suitable for a high-end estate style subdivision, private equestrian community, or luxury residential development. Public water is available, and fiber optic service runs along Arledge Road. The property is unzoned. It offers views of the Blue Ridge Mountains and is surrounded by recreational and lifestyle amenities. The Links O'Tryon Golf Club is less than 3 miles away, The Cliffs at Glassy is within 10 miles, and the Tryon International Equestrian Center is under 20 miles from the property. The property is located 6 miles from Landrum, 10 miles from Tryon, 20 miles from Travelers Rest, and approximately 25 miles from both Spartanburg and Greenville.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Garden Center Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Landrum
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.245645
    Latitude
    35.122355

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    FAQs

    What type of property is this?
    Residential land & home lot - 77.3 acre tract with highway frontage near Landrum, SC.
    Where is this residential land & home lot located?
    The property is located at 351 Highway 11 Landrum, SC.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Rare 77.3 +/- acre development opportunity in a highly desirable Upstate location.; **Extensive road frontage**: over 1,400 feet on Highway 11 and over 3,000 feet on Arledge Road, enhancing accessibility and visibility.; **Ideal for various developments**: high‑end estate subdivision, equestrian community, or luxury residential development due to gentle rolling topography.
    (803) 928-6188
    We can help!
    Listing Contact
    Edward Weathers
    Request Owner's contact information
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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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