503 Washington AveGreenville, SC 29611

Property Details for 503 Washington Ave

Lot size

0.36 AC

Zone code

C1

Property type

Retail properties

Property subtype

Retail space

APN

0227.00-03-024.01

APU

227000302401

Description

This 0.39-acre commercial property at 503 S Washington Avenue in Greenville, SC, presents a unique investment opportunity. Located minutes from downtown Greenville, the Judson Mill District, and the Village of West Greenville, this property boasts high visibility and convenient access. The existing building, which previously housed a flower shop for over 50 years, requires extensive repairs and is being sold "as is." The sale price is $175,000, and cash offers only will be considered. The property includes a significant advantage with 20 on-site parking spaces, a benefit often lacking in this area. The deep lot provides ample space and includes a one-bedroom apartment and a separate storage facility at the rear, adding to the property's versatility and potential rental income. This property is ideal for an investor or entrepreneur seeking a redevelopment project with significant upside in a rapidly growing area of Greenville. The existing structure offers a solid foundation for a variety of commercial uses, allowing for creative adaptation to meet the needs of a modern business. The combination of location, parking, and additional structures makes this a rare opportunity in the competitive Greenville market. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $5,897,594

  6.5%

  $5,443,933

  7%

  $5,055,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,253,570

  Geo Method

  $3,253,570

• Alternative Use

  Use

  Valuation

  Residential

  $4,592,161

  Hospitality

  $4,206,395

  Educational

  $3,499,671

  Medical

  $3,620,030

  Retail

  $5,443,933

Location Insight

City

Greenville

County

Greenville

State

South Carolina

Latitude

34.8285

Longitude

-82.4346

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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