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    50 Gladys Drive Greenville, SC 29607

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    New
    For Sale
    $369,000

    Commercial - Greenville, SC

    Property size:
    1,000 SF
    Lot size:
    2.00 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 28 at 11:06 pm

    Property Features for 50 Gladys Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0260000106100
    Size
    1,000 SF
    Lot size
    2.00 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Flooring type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Pam Foster

    Listing agent Pam Foster

    Listing office Encore Realty 147 Welborn Street, Greenville, SC

    Listing date Apr 28, 2026

    MLS# 1587226 Listing URL

    Copyright © 2026 Greater Greenville 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.

    Overview

    Luxury Automotive Motor Condo

    The Vault Motor Condos represent a private, gated community designed for the automotive lifestyle. These climate-controlled motor suites offer the opportunity to own a space within a community of individuals with similar interests. Each residence measures approximately 20 feet wide by 50 feet deep, featuring 19-foot ceilings, offering roughly 1,000 square feet of customizable space. Every unit is constructed with a 14-foot wide by 16-foot high automatic overhead garage door, a commercial-grade 3070 walk-in door, and a high-efficiency mini-split HVAC system. Each unit also includes a 200 AMP service panel with a dedicated electric meter, rough-in plumbing for a full bath and shower, LED commercial lighting and an overhead fan, GFCI outlets, fully insulated walls, and reinforced concrete flooring. These motor condos are designed to reflect your lifestyle and can be customized with options such as a private lounge, executive office, custom bar, gourmet kitchen, or entertainment suite. The Vault delivers security and sophistication and is ideal for housing and showcasing vehicles, motorcycles, boats, RVs, and other assets. Multiple units may be combined to create a larger environment. The property is located in Greenville, SC 29607 and has a lot size of 2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

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

    Similar Places Nearby

    • Enterprise Rent-A-Car — 531woodruff Road, Greenville, SC 29607
    • Enterprise Truck Rental — 531 Woodruff Rd, Greenville, SC 29607
    • U-Haul Moving & Storage of East Greenville — 24 Roper Mountain Rd, Greenville, SC 29607
    • Trailer Rental at U-Haul — 24 Roper Mountain Rd, Greenville, SC 29607
    • Truck Rental at U-Haul — 24 Roper Mountain Rd, Greenville, SC 29607

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3295921
    Latitude
    34.8458719

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    FAQs

    What type of property is this?
    Parking lot & garage - Private, gated motor condos designed for the automotive lifestyle.
    Where is this parking lot & garage located?
    The property is located at 50 Gladys Drive Greenville, SC.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: Private, gated community designed for automotive enthusiasts and collectors; Climate‑controlled motor suites ideal for storing and showcasing vehicles; Highly customizable **1,000 sq ft space** with rough‑in plumbing for a full bath
    (864) 326-5047
    We can help!
    Listing Contact
    Pam Foster
    Learn More
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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.

    More about this property
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