Wooded Development Land with
For Sale
$350,000
663 Arlington Rd, Greer, SC 29651
Gently wooded acreage with a 1,000 sq. ft. shop and public sewer access at the rear.
Property Size1,000 SF
Lot Size4.50 Acres
Price / SF$350
Days on Market48
Property Features for 663 Arlington Rd
General Information
Standard status
Active
Size
1,000 SF
Lot size
4.50 Acres
Property subtype
Land
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,600
Listing Agency:
BHHS C Dan Joyner - Midtown
(864) 350-4887
Listed By:
Karen A North
(864) 350-4887
Source:
Exprealty
Added: Jun 25
Changed: Aug 8
Last Checked: Jul 7 at 10:56PM
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 BHHS C Dan Joyner - Midtown
Investment Insights
Based on property information with market context.
This property is a 4.5-acre tract of gently wooded land with mature hardwoods and pines, along with a creek running along the rear property line. A 1,000 sq. ft. shop is included on-site, providing immediate utility for storage or light operations while plans are developed.
The site offers direct road access and is positioned for convenience to surrounding amenities. It is described as being approximately 5 minutes to downtown Greer, 6 miles to BMW, and 7 miles to GSP Airport.
The mix of acreage, existing shop space, and available public sewer access at the back of the property supports a range of builder and development approaches. The seller also notes no HOA and no restrictions, and indicates possible owner financing options. This combination may appeal to developers, builders, or investors seeking a wooded parcel with practical infrastructure for future improvements.
The site offers direct road access and is positioned for convenience to surrounding amenities. It is described as being approximately 5 minutes to downtown Greer, 6 miles to BMW, and 7 miles to GSP Airport.
The mix of acreage, existing shop space, and available public sewer access at the back of the property supports a range of builder and development approaches. The seller also notes no HOA and no restrictions, and indicates possible owner financing options. This combination may appeal to developers, builders, or investors seeking a wooded parcel with practical infrastructure for future improvements.
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
$14,819
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
4.23%
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%
$296,380
$296.4K
Cap Rate 7%
$211,700
$211.7K
Cap Rate 9%
$164,656
$164.7K
Market Conditions
NOI Build-Up for 1,000 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
$22.0K $21.96/SF
− Vacancy
−$791 −$0.79/SF
EGI
$21.2K $21.17/SF
− OpEx
−$6.4K −$6.35/SF
NOI
$14.8K $14.82/SF
Area
Greenville County, SC
Vacancy
3.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$296,380
Cap Rate 7%
$211,700
Cap Rate 9%
$164,656
Alternative Uses
Best Use
Retail
$211.7K
$185.2K – $247.0K
NOI $14,819 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$427.3K
$373.9K – $498.5K
NOI $29,908 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 29651, SC
50,778
Population
21,738
Households
2.3
Avg Household Size
40
Median Age
34%
College-Educated
91%
High-School Grad
89.6 sq mi
ZIP Area
567
Density / Sq Mi
$80,748
Median Household Income
$47,077
Median Earnings
$1,021
Median Rent
$264,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Gently wooded acreage with a 1,000 sq. ft. shop and public sewer access at the rear.
Where is this residential land & home lot located?
The property is located at 663 Arlington Rd Greer, SC.
What is the asking price?
The asking price for this property is $350,000.
