Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Building on Greenville Street Title is generated by Realmo AI

    1504 E Greenville St, Anderson, SC 29621

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2,400 SF retail building for sale on 0.52 AC.

    Type:Retail
    Property size:
    2,400 SF
    Lot size:
    0.52 Acres
    Price / SF:
    $312/SF
    Added:
    Nov 19, 2024
    Days on Market:
    558
    Last Refresh:
    May 12 at 8:44 pm

    Property Features for 1504 E Greenville St

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.52 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    John Wright, Jr.

    Listing agent John Wright, Jr. License #SC 31893

    Listing office McCoy Wright Commercial Real Estate

    Listing date Nov 19, 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 McCoy Wright Commercial Real Estate

    HighLights

    • High traffic frontage with 125' on E. Greenville St. boasting 29,200 VPD.
    • Strategic location: Approximately 1.5 miles from both AnMed Health Campus and AnMed Hospital.
    • Access road to a red light at E. Greenville St. and Cornelia Rd.
    • Building size: 2,400 SF.
    • Lot size: 0.52 AC.
    • Adjoining property available for sale, offering expansion potential.

    Overview

    A 2,400 SF building situated on a 0.52 AC lot is available for purchase. The property features 125' of frontage on E. Greenville Street, which sees 29,200 vehicles per day. It is located approximately 1.5 miles south of the AnMed Health Campus and 1.5 miles north of the AnMed Hospital. An access road provides connectivity to a red light at the intersection of E. Greenville Street and Cornelia Road. The adjoining property at 1502 E. Greenville is also for sale and could be acquired together.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $72.0k $30.00
    − Vacancy −$2.6k −$1.08
    EGI $69.4k $28.92
    − OpEx −$20.8k −$8.68
    NOI $48.6k $20.24
    2,400 SF · lease $30.00/SF/yr · vacancy 3.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $694.1K
    $607.3K – $809.8K (±1% cap)
    NOI $48,586 @ 7.0% cap · market cap 6.48%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $25.99M
    $22.74M – $30.32M (±1% cap)
    NOI $1,818,966 @ 7.0% cap · market cap 242.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Anderson
    County
    Anderson
    State
    South Carolina
    Longitude
    -82.6355701
    Latitude
    34.5276256

    Nearby Similar for Sale

    • $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
    • $825,000
      5,000 SF

      Highway Commercial Property Near Development

      1.14-acre parcel with 5,000 sq ft industrial building.
      4341 S Carolina 24, Anderson, SC 29626
      View Details
    • $3,900,000

      Retail Building on Miracle Mile

      Prime retail building with excellent visibility and accessibility in Anderson.
      110 Miracle Mile Drive, Anderson, SC 29621
      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
    • $435,000
      3,000 SF

      Anderson Commercial Property with Garage

      Commercial property with a home and a fully functional garage.
      609 Fair Street, Anderson, SC 29625
      View Details
    • $425,000

      Versatile Warehouse & Flex Space

      Warehouse facility ideal for owner-occupants or investors.
      109 Waybrook Drive, Anderson, SC 29624
      View Details
    • $499,000

      Prime Anderson Business Location

      Excellent visibility, move-in ready office space with parking.
      2006 N Main Street, Anderson, SC 29621
      View Details
    • $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
    • $295,000
      2,160 SF

      Rebuilt Duplex Ideal for Investors

      Newly rebuilt duplex perfect for investors or owner-occupiers.
      908 Linley Street, Anderson, SC 29625
      View Details
    • $925,000
      4,300 SF

      Versatile Property Near AnMed Hospital

      Versatile 4,300 SF property suitable for office or retail.
      1502 E Greenville St, Anderson, SC 29621
      View Details
    • $421,950

      High-Performing Anderson Quadplex For Sale

      Income-producing quadplex with recent upgrades and value-add potential.
      112 Tabitha Court, Anderson, SC 29625
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,400 SF retail building for sale on 0.52 AC.
    Where is this retail space located?
    The property is located at 1504 E Greenville St Anderson, SC.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: High traffic frontage with 125' on E. Greenville St. boasting 29,200 VPD.; Strategic location: Approximately 1.5 miles from both AnMed Health Campus and AnMed Hospital.; Access road to a red light at E. Greenville St. and Cornelia Rd.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Wright, Jr.
    Real Estate License ID: SC 31893
    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

    Thank You for Inquiry
    1504 E Greenville St, Anderson, SC 29621
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!