Warehouse with Three-Phase Heavy
For Sale
Contact for pricing
502 Palmetto Dr, Simpsonville, SC 29681
Warehouse with office space, multiple dock and drive-in doors, suspended gas heat, and heavy 480-volt three-phase power.
Property Size18,000 SF
Price / SF$133.33
Days on Market279
Property Features for 502 Palmetto Dr
General Information
Standard status
Active
Size
18,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Reedy Commercial
(864) 568-5102
Listed By:
Chandler Ayers · License #104450
(864) 201-2221
Source:
Moodyscre
Added: Dec 8, 2025
Changed: Aug 14
Last Checked: Sep 13 at 11:07AM
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 Reedy Commercial
Investment Insights
Based on property information with market context.
This warehouse facility totals 18,000 SF, including 15,000 SF of warehouse/manufacturing space and 3,000 SF of office space. The building includes 2 office restrooms and 4 shop restrooms to support both staff and production or warehouse operations.
Interior clearances include center ceiling heights of 15’–7’ and eaves height of 14’. The property is equipped with heavy power: three-phase 480 volts. Loading includes 4 dock doors and 3 drive-in doors, with multiple dock door and drive-in door size configurations listed in the remarks. The warehouse also features suspended gas heat.
The lot size is 1.5 acres, providing room for site operations alongside the building footprint.
Interior clearances include center ceiling heights of 15’–7’ and eaves height of 14’. The property is equipped with heavy power: three-phase 480 volts. Loading includes 4 dock doors and 3 drive-in doors, with multiple dock door and drive-in door size configurations listed in the remarks. The warehouse also features suspended gas heat.
The lot size is 1.5 acres, providing room for site operations alongside the building footprint.
Key Highlights
- Total 18,000 SF building with 15,000 SF warehouse/manufacturing and 3,000 SF office
- 1.5‑acre lot
- Ceiling heights: center 15’–7” and eaves 14’
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
$84,229
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
3.51%
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%
$1,684,580
$1.7M
Cap Rate 7%
$1,203,271
$1.2M
Cap Rate 9%
$935,878
$935.9K
Market Conditions
NOI Build-Up for 18,000 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
$108.2K $6.01/SF
− Vacancy
−$9.1K −$0.50/SF
EGI
$99.1K $5.51/SF
− OpEx
−$14.9K −$0.83/SF
NOI
$84.2K $4.68/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
15.00%
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%
$1,684,580
Cap Rate 7%
$1,203,271
Cap Rate 9%
$935,878
Alternative Uses
Best Use
Warehouse
$1.20M
$1.05M – $1.40M
NOI $84,229 @ 7.0% cap · market cap 3.51%
Second Best
Industrial
$990.9K
$867.1K – $1.16M
NOI $69,365 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$7.69M
$6.73M – $8.97M
NOI $538,349 @ 7.0% cap · market cap 22.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29681, SC
63,257
Population
25,079
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
96%
High-School Grad
43.7 sq mi
ZIP Area
1,448
Density / Sq Mi
$107,694
Median Household Income
$54,834
Median Earnings
$1,615
Median Rent
$325,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Greenville Boat and RV Storage — 1226 Old Stage Rd, Simpsonville, SC 29681
- Trinity Commerce Center — Old Stage Rd, Simpsonville, SC 29681
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with office space, multiple dock and drive-in doors, suspended gas heat, and heavy 480-volt three-phase power.
Where is this warehouse located?
The property is located at 502 Palmetto Dr Simpsonville, SC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Total 18,000 SF building with 15,000 SF warehouse/manufacturing and 3,000 SF office; 1.5‑acre lot; Ceiling heights: center 15’–7” and eaves 14’
