Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    502 Hwy 28 Bypass Anderson, SC 29624

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Unzoned 17-acre parcel suitable for mixed-use development.

    Type:Land
    Lot size:
    17.00 Acres
    Added:
    Mar 1, 2024
    Days on Market:
    778
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 502 Hwy 28 Bypass

    General Information

    Standard status
    Active
    Lot size
    17.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Kirsten Dinkins

    Listing agent Kirsten Dinkins License #SC

    Listing office EXP Realty LLC

    Listing date Mar 1, 2024

    Source Crexi

    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 EXP Realty LLC

    Overview

    Expansive 17-Acre Mixed-Use Parcel

    This 17-acre parcel is located at an advantageous location and features 880 feet of frontage on Hwy 28. The unzoned property is situated within a Qualified Census Tract (QCT) and is eligible for USDA programs. The land consists of 4 parcels that can be subdivided, making it suitable for an affordable housing development project. The property is located near a public transportation route. This property is part of a larger portfolio available for sale, presenting a strategic investment opportunity for community development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Anderson
    State
    South Carolina
    Longitude
    -82.6693867
    Latitude
    34.4857969

    Nearby Similar for Sale

    • $499,000

      Prime Office Space, Anderson SC

      Move-in ready office building with high visibility and ample parking.
      2006 N Main Street, Anderson, SC 29621
      View Details
    • $499,000

      Move-In Ready Office Building

      Pristine office building with high visibility and ample parking.
      2006 N Main Street, Anderson, SC 29621
      View Details
    • $685,000

      Versatile Commercial Space, Anderson SC

      Expansive commercial property with high visibility and traffic.
      405 Pearman Dairy Road, Anderson, SC 29625
      View Details
    • $475,000

      Versatile Warehouse & Flex Space

      Commercial warehouse and flex space in South Anderson, SC.
      109 Waybrook Drive, Anderson, SC 29624
      View Details
    • $429,000

      Commercial Property Near Downtown Anderson

      Well-maintained flex building with office and warehouse space.
      3499 East River Street, Anderson, SC 29621
      View Details
    • $499,900

      Downtown Anderson Multi-Use Commercial Property

      Turnkey facility with convenience store, restaurant, bar, and event center.
      202-208 W Franklin Street, Anderson, SC 29624
      View Details
    • $75,000

      High-Traffic Commercial Property in Anderson

      Prime commercial property with immediate income and strong investment potential.
      207 Manley Drive, Anderson, SC 29626
      View Details
    • $409,000

      Highway 81 Commercial Lot

      Prime 0.98-acre commercial lot on Highway 81 North.
      00 N Hwy 81, Anderson, SC 29621
      View Details
    • $975,000

      Prime Land Near Technical College

      4.53-acre commercial land with highway frontage near Tri-County Technical College.
      321 Pearman Dairy Road, Anderson, SC 29625
      View Details
    • $2,200,000

      Commercial Plaza on North Main

      Prime commercial plaza with 12 shop and office spaces.
      2406, 2408, 2410 N Main Street, Anderson, SC 29621
      View Details
    • $585,100

      Commercial Land in Anderson, SC

      4.61 acres of commercial land for sale in Anderson.
      R-1-B + R-2 Destination Boulevard, Anderson, SC 29621
      View Details
    • $215,000

      Office Cottage Near Downtown Anderson

      Charming 1,400 sq ft office space near downtown.
      609 Bonham Court, Anderson, SC 29621
      View Details

    FAQs

    What type of property is this?
    Land - Unzoned 17-acre parcel suitable for mixed-use development.
    Where is this land located?
    The property is located at 502 Hwy 28 Bypass Anderson, SC.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Expansive 17‑acre parcel suitable for mixed‑use development; Unbeatable location with **880 feet of frontage on Hwy 28**; Unzoned property offering flexibility for various development projects
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kirsten Dinkins
    Real Estate License ID: SC
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!