Flex Building with
For Sale
$375,000
5108 Old Laurens Rd, Greenwood, SC 29649
Commercial Sale, Greenwood, SC
Property Size3,200 SF
Lot Size1.08 Acres
Price / SF$117.19
Days on Market137
Property Features for 5108 Old Laurens Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RDD
Subdivision
LAKEVIEW HGHTS
Standard status
Active
Size
3,200 SF
Lot size
1.08 Acres
Amenities
full kitchen
2 laundry hookups
multiple bathrooms (2-half baths and one with a shower)
flexible rooms
attached additional covered storage areas
220 power
welding hookup
Building Details
Year built
2005
Listing Agency:
Your Home Sold Guaranteed Realty - Kellar Lawrence
(864) 942-8991
Listed By:
Tara Wise
(864) 941-1579
Added: May 4
Changed: Sep 3
Last Checked: Sep 17 at 1:06AM
MLS# 139753
Copyright © 2026 Greenwood 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 3,200-square-foot flex property includes an 80-by-40-foot steel-frame building with warehouse and workshop space. Two 12-by-12-foot roll-up doors support equipment and vehicle access, while the interior includes a full kitchen, laundry hookups, two half-baths, and a bathroom with a shower. Additional rooms can accommodate offices, living quarters, or meetings, and attached covered storage provides space for boats, vehicles, or materials.
The 1.08-acre site is at 5108 Old Laurens Rd in Greenwood, beside Harris Landing and diagonal from One Stop Marina, with views toward Lake Greenwood. The property is approximately three minutes from the Olde Eight Community and Golf Course. It currently uses a well and septic system, with county water lines being installed on the road. Existing 220 power and a welding hookup support workshop and repair applications, while the lot provides parking, access, and room for expansion. The property is leased month-to-month.
The 1.08-acre site is at 5108 Old Laurens Rd in Greenwood, beside Harris Landing and diagonal from One Stop Marina, with views toward Lake Greenwood. The property is approximately three minutes from the Olde Eight Community and Golf Course. It currently uses a well and septic system, with county water lines being installed on the road. Existing 220 power and a welding hookup support workshop and repair applications, while the lot provides parking, access, and room for expansion. The property is leased month-to-month.
Key Highlights
- 3,200‑square‑foot flex property on 1.08 acres
- 80‑by‑40‑foot steel‑frame building with warehouse and workshop space
- Two 12‑by‑12‑foot roll‑up doors
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
$31,680
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
8.45%
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%
$633,600
$633.6K
Cap Rate 7%
$452,571
$452.6K
Cap Rate 9%
$352,000
$352.0K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$6.9K −$2.16/SF
EGI
$50.7K $15.84/SF
− OpEx
−$19.0K −$5.94/SF
NOI
$31.7K $9.90/SF
Area
Greenwood County, SC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$633,600
Cap Rate 7%
$452,571
Cap Rate 9%
$352,000
Alternative Uses
Best Use
Office B
$780.0K
$682.5K – $910.1K
NOI $54,603 @ 7.0% cap · market cap 14.56%
Second Best
Mixed Use
$452.6K
$396.0K – $528.0K
NOI $31,680 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$1.01M
$879.6K – $1.17M
NOI $70,367 @ 7.0% cap · market cap 18.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - RDD-zoned property combines warehouse, office, storage, and live-work functionality on an expansive commercial parcel.
Where is this flex space located?
The property is located at 5108 Old Laurens Rd Greenwood, SC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3,200‑square‑foot flex property on 1.08 acres; 80‑by‑40‑foot steel‑frame building with warehouse and workshop space; Two 12‑by‑12‑foot roll‑up doors
