Moore SC Investment
For Sale
Contact for pricing
72 Old Farm Rd, Moore, SC 29369
10-unit rental community in Moore, South Carolina, fully occupied.
Property Size11,530 SF
Price / SF$162.62
Days on Market150
Property Features for 72 Old Farm Rd
General Information
Standard status
Active
Size
11,530 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
2024
Buildings
5
Units
10
Listing Agency:
KELLER WILLIAMS REALTY-1
Listed By:
Marina Bodem · License #SC - 94696
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 KELLER WILLIAMS REALTY-1
Investment Insights
Based on property information with market context.
The Old Farm Rd Portfolio presents an investment opportunity with a price of $1,875,000. Located in Moore, South Carolina, this rental community consists of five duplexes, totaling 10 units. Each unit includes 3 bedrooms, 2 baths, and kitchens equipped with quartz countertops and stainless steel appliances. The average rental rate is $1,462, and the units are currently fully occupied. The property is situated in Spartanburg County, within the Spartanburg-Greenville corridor, benefiting from the local economy driven by industrial players such as the BMW Manufacturing Plant and Inland Port Greer. The property size is 11530 square feet. This portfolio offers an opportunity for investors seeking long-term appreciation and consistent rental income in a high-growth market, with strong demand for three-bedroom units in the area.
Key Highlights
- Turnkey 10‑unit rental community (five duplexes) built in 2024, offering a modern living experience.
- Fully occupied with an average rental rate of $1,462 per unit, ensuring immediate and consistent cash flow.
- Each unit features 3 bedrooms and 2 baths, appealing to a broad tenant base.
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
$103,051
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
5.50%
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%
$2,061,020
$2.1M
Cap Rate 7%
$1,472,157
$1.5M
Cap Rate 9%
$1,145,011
$1.1M
Market Conditions
NOI Build-Up for 11,530 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
$155.0K $13.44/SF
− Vacancy
−$7.7K −$0.67/SF
EGI
$147.2K $12.77/SF
− OpEx
−$44.2K −$3.83/SF
NOI
$103.1K $8.94/SF
Area
Spartanburg County, SC
Vacancy
5.00%
Lease Rate
$13.44 /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%
$2,061,020
Cap Rate 7%
$1,472,157
Cap Rate 9%
$1,145,011
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $103,051 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $94,925 @ 7.0% cap · market cap 5.06%
Theoretical Best
Warehouse
$8.95M
$7.83M – $10.44M
NOI $626,569 @ 7.0% cap · market cap 33.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 29369, SC
16,007
Population
6,453
Households
2.5
Avg Household Size
41
Median Age
32%
College-Educated
92%
High-School Grad
28.1 sq mi
ZIP Area
570
Density / Sq Mi
$82,002
Median Household Income
$47,000
Median Earnings
$1,429
Median Rent
$233,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - 10-unit rental community in Moore, South Carolina, fully occupied.
Where is this duplex located?
The property is located at 72 Old Farm Rd Moore, SC.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Turnkey 10‑unit rental community (five duplexes) built in 2024, offering a modern living experience.; Fully occupied with an average rental rate of $1,462 per unit, ensuring immediate and consistent cash flow.; Each unit features 3 bedrooms and 2 baths, appealing to a broad tenant base.
