Flex Space with Office and
For Sale
$1,100,000
450 N Hwy 11, West Union, SC 29696
LAND - West Union, SC
Property Size5,400 SF
Lot Size5.07 Acres
Price / SF$203.70
Days on Market48
Property Features for 450 N Hwy 11
General Information
Property type
Land
Property subtype
Other
Lot features
City Lot, Level, Not In Subdivision
Elementary school
Walhalla Elem
Middle school
Walhalla Middle
High school
Walhalla High
Directions
On Hwy 11 just north of West Union; across from Itron
Subdivision
205-Oconee County, SC
Standard status
Active
APN
510-04-01-010
Lot size
5.07 Acres
Listing Agency:
Powell Real Estate
(864) 638-5879
Listed By:
Adriana Powell · License #131210
(864) 723-6424
Added: Jun 25
Last Checked: Aug 11 at 8:06PM
MLS# 20303124
Copyright © 2026 Western Upstate 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 move-in-ready flex property includes approximately 5,400 SF of recently renovated commercial/industrial space with a warehouse area featuring 16'+ ceilings. The interior is supported by multiple private offices, a boardroom/conference room, two large open work areas, and a security office, along with multiple restrooms. A drive-in 16 ft. door provides direct warehouse access. The warehouse space is fully heated and cooled, with an air system throughout and newly refinished epoxy floors, supporting both administrative and operational workflows.
The building sits on a spacious, graded lot totaling 5.07 acres with frontage along SC Highway 11. The site is described as high-visibility with approximately 11,000+ vehicles per day, offering convenient access to West Union, Walhalla, Seneca, and surrounding Upstate markets. A large gravel parking area provides room for employee parking, fleet vehicles, trailers, and equipment. The property also includes water access and a newly installed sewer system serving the rear portion of the site.
With a layout that separates office functions from warehouse operations, the space is well-suited for uses that combine administration and on-site activity, including office headquarters, light manufacturing, distribution, service operations, or flex space. The additional acreage and utilities available on the rear portion of the property provide room for equipment storage or future development separate from the main building.
The building sits on a spacious, graded lot totaling 5.07 acres with frontage along SC Highway 11. The site is described as high-visibility with approximately 11,000+ vehicles per day, offering convenient access to West Union, Walhalla, Seneca, and surrounding Upstate markets. A large gravel parking area provides room for employee parking, fleet vehicles, trailers, and equipment. The property also includes water access and a newly installed sewer system serving the rear portion of the site.
With a layout that separates office functions from warehouse operations, the space is well-suited for uses that combine administration and on-site activity, including office headquarters, light manufacturing, distribution, service operations, or flex space. The additional acreage and utilities available on the rear portion of the property provide room for equipment storage or future development separate from the main building.
Key Highlights
- +/-5,400 SF recently renovated commercial/industrial building along SC Highway 11
- 16'+ ceilings; heated and cooled warehouse; air system throughout; newly refinished epoxy floors
- Warehouse access includes a drive‑in 16 ft. door; layout supports admin and operational workflows
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
$68,988
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
6.27%
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%
$1,379,760
$1.4M
Cap Rate 7%
$985,543
$985.5K
Cap Rate 9%
$766,533
$766.5K
Market Conditions
NOI Build-Up for 5,400 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
$108.2K $20.04/SF
− Vacancy
−$16.2K −$3.01/SF
EGI
$92.0K $17.03/SF
− OpEx
−$23.0K −$4.26/SF
NOI
$69.0K $12.78/SF
Area
Oconee County, SC
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,379,760
Cap Rate 7%
$985,543
Cap Rate 9%
$766,533
Alternative Uses
Best Use
Office B
$985.5K
$862.4K – $1.15M
NOI $68,988 @ 7.0% cap · market cap 6.27%
Second Best
Warehouse
$344.8K
$301.7K – $402.2K
NOI $24,134 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,888 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
11,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29696, SC
4,759
Population
2,327
Households
2
Avg Household Size
47
Median Age
29%
College-Educated
91%
High-School Grad
21.9 sq mi
ZIP Area
217
Density / Sq Mi
$77,172
Median Household Income
$40,653
Median Earnings
$681
Median Rent
$184,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready flex facility with heated warehouse, private offices, and a drive-in door on high-visibility Hwy 11 frontage.
Where is this flex space located?
The property is located at 450 N Hwy 11 West Union, SC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: +/-5,400 SF recently renovated commercial/industrial building along SC Highway 11; 16'+ ceilings; heated and cooled warehouse; air system throughout; newly refinished epoxy floors; Warehouse access includes a drive‑in 16 ft. door; layout supports admin and operational workflows
