212 Rice Rd Easley, SC 29640
- Apartment buildings
- 291,580 SF
- 19.20 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 212 Rice Rd
- Year built
- 1928
- Lot size
- 19.20 lot acres
- Property size
- 291,580 SF
- Property type
- Apartment buildings
Description
This exceptional redevelopment opportunity presents a 200-unit, Class A apartment building totaling 291,580 square feet on a 19.2-acre lot in Easley, South Carolina. Located at 212 Rice Rd, this fully entitled project benefits from a Pickens County moratorium on multi-unit residential construction extended to October 1, 2024, creating a limited supply of new multifamily units and lower vacancy rates than Greenville. The property is approved for Historic & Textile Mill Rehabilitation tax credits, offering approximately a 40% rebate on construction costs, and also qualifies for the Bailey Bill tax abatement, projected to yield over $4.65 million in savings over 15 years. Consistent submarket rent growth averages $1.35 to $1.60 per square foot monthly, with high demand for studio and one-bedroom units allowing for premium pricing. Built in 1928, this project sits on the new 7.5-mile Doodle Trail, offering residents convenient access to outdoor recreation. The property's APN is 5009-08-79-5182, 5009-08-68-9892, 5009-08-78-8883, and 5009-08-88-1781. This is a rare opportunity for a high-visibility project in a tight submarket.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Easley
- County
- Pickens
- State
- South Carolina
- Longitude
- -82.6415
- Latitude
- 34.8422
