Turnkey Tractor Trailer Painting
For Sale
Contact for pricing
1384 Victor Hill Rd, Duncan, SC 29334
Turnkey painting facility with outdoor storage in Duncan, South Carolina.
Property Size5,000 SF
Price / SF$360
Days on Market1007
Property Features for 1384 Victor Hill Rd
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial
Zoning
GD
Listing Agency:
McCoy Wright Commercial Real Estate
(864) 224-3503
Listed By:
Max Kinser · License #SC 109810
Source:
Crexi
Added: Nov 8, 2023
Changed: Aug 11
Last Checked: May 12 at 10:49PM
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
Investment Insights
Based on property information with market context.
The property at 1384 Victor Hill Rd, Duncan, SC, presents an opportunity to acquire a turnkey tractor trailer and bus painting facility. The building is approximately 5,000 square feet, including 800 square feet of office space. The facility is equipped with two spray booths: one 50x25 downdraft booth with an air make-up unit, and one 55x25 side draft booth. A 325-square-foot mixing room and a 15HP helical air compressor with two driers are included in the sale. The property features a large fiber-reinforced concrete apron surrounding the building, suitable for parking and storage of large trucks and heavy equipment. While the property is suited to various uses, it is specifically tailored for painting trucks, trailers, buses, and heavy equipment. The surrounding area has experienced significant industrial growth in recent years, offering an opportunity to be part of the expanding market.
Key Highlights
- Turnkey tractor trailer and bus painting facility.
- Excellent location in a rapidly expanding industrial area.
- Two spray booths: a 50x25 downdraft with air make up unit and a 55x25 with side draft.
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
$57,519
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
3.20%
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%
$1,150,380
$1.2M
Cap Rate 7%
$821,700
$821.7K
Cap Rate 9%
$639,100
$639.1K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$7.8K −$1.57/SF
EGI
$82.2K $16.43/SF
− OpEx
−$24.7K −$4.93/SF
NOI
$57.5K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
Lease Rate
$18.00 /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%
$1,150,380
Cap Rate 7%
$821,700
Cap Rate 9%
$639,100
Alternative Uses
Best Use
Industrial
$3.20M
$2.80M – $3.73M
NOI $223,763 @ 7.0% cap · market cap 12.43%
Second Best
Retail
$821.7K
$719.0K – $958.7K
NOI $57,519 @ 7.0% cap · market cap 3.20%
Theoretical Best
Warehouse
$3.88M
$3.40M – $4.53M
NOI $271,713 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 29334, SC
16,472
Population
7,424
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
716
Density / Sq Mi
$76,595
Median Household Income
$46,990
Median Earnings
$1,221
Median Rent
$267,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Turnkey painting facility with outdoor storage in Duncan, South Carolina.
Where is this industrial property located?
The property is located at 1384 Victor Hill Rd Duncan, SC.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Turnkey tractor trailer and bus painting facility.; Excellent location in a rapidly expanding industrial area.; Two spray booths: a 50x25 downdraft with air make up unit and a 55x25 with side draft.
