Mixed-Use Property With Two
New
For Sale
$677,000
879 By Pass 123 Highway includes 710 Seneca Drive, Seneca, SC 29678
Two-building commercial offering with retail, office, and industrial improvements along an established Seneca business corridor.
Property Size3,264 SF
Price / SF$207.41
Days on Market2
Property Features for 879 By Pass 123 Highway includes 710 Seneca Drive
General Information
Standard status
Active
Size
3,264 SF
Additional Details
Asking Price
$370,000
Road Access
Yes
Building Details
Buildings
1
Building Size
3,264 SF
Listing Agency:
RE/MAX Executive/Greenville
(864) 380-2122
Listed By:
Adrienne Hennes · License #13470
(864) 380-2122
Source:
Adamdevolrealtor.myrealestateplatform
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 5:18PM
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 RE/MAX Executive/Greenville
Investment Insights
Based on property information with market context.
This mixed-use commercial offering includes two separate buildings: a 1,440 SF retail/office building at 879 By Pass 123 and a 3,264 SF industrial building at 710 Seneca Drive. Together, the improvements provide a combination of customer-facing and industrial-oriented space within one offering. Both properties are currently associated with the same tax map number.
The buildings occupy a signalized corner near Seneca’s established By Pass 123 commercial corridor, with three driveway entrances supporting access to the site. Surrounding development includes shopping, restaurants, services, and other businesses. By Pass 123 provides connectivity through Seneca and toward Clemson, while the two addresses place the property within an active commercial setting.
The buildings occupy a signalized corner near Seneca’s established By Pass 123 commercial corridor, with three driveway entrances supporting access to the site. Surrounding development includes shopping, restaurants, services, and other businesses. By Pass 123 provides connectivity through Seneca and toward Clemson, while the two addresses place the property within an active commercial setting.
Key Highlights
- 1,440 SF retail/office building at 879 By Pass 123
- 3,264 SF industrial building at 710 Seneca Drive
- Signalized corner property with 3 driveway entrances
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
$41,699
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
6.16%
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%
$833,980
$834.0K
Cap Rate 7%
$595,700
$595.7K
Cap Rate 9%
$463,322
$463.3K
Market Conditions
NOI Build-Up for 3,264 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
$65.4K $20.04/SF
− Vacancy
−$9.8K −$3.01/SF
EGI
$55.6K $17.03/SF
− OpEx
−$13.9K −$4.26/SF
NOI
$41.7K $12.78/SF
Area
Oconee County, SC
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$833,980
Cap Rate 7%
$595,700
Cap Rate 9%
$463,322
Alternative Uses
Best Use
Office B
$595.7K
$521.2K – $695.0K
NOI $41,699 @ 7.0% cap · market cap 6.16%
Second Best
Retail
$566.4K
$495.6K – $660.8K
NOI $39,646 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$819.3K
$716.9K – $955.9K
NOI $57,354 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 29678, SC
23,700
Population
11,742
Households
2
Avg Household Size
40
Median Age
24%
College-Educated
85%
High-School Grad
79.8 sq mi
ZIP Area
297
Density / Sq Mi
$49,699
Median Household Income
$33,779
Median Earnings
$943
Median Rent
$205,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial offering with retail, office, and industrial improvements along an established Seneca business corridor.
Where is this mixed-use property located?
The property is located at 879 By Pass 123 Highway includes 710 Seneca Drive Seneca, SC.
What is the asking price?
The asking price for this property is $677,000.
What are key features of this property?
This property features: 1,440 SF retail/office building at 879 By Pass 123; 3,264 SF industrial building at 710 Seneca Drive; Signalized corner property with 3 driveway entrances
