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    10509 Greenville Hwy Wellford, SC 29385
    Property profile & analytics

    10509 Greenville Hwy Wellford, SC 29385

    View on Map
    • Commercial real estate
    • 3.40 lot acres
    Off-Market
    Property ID
    US77-1407608
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 10509 Greenville Hwy

    Lot size
    3.40 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.4-acre commercial land parcel presents a rare development opportunity in a high-traffic area. Situated on Highway 29, between Greer and Spartanburg, South Carolina, this property boasts approximately 315 feet of frontage on this major thoroughfare. The location offers significant visibility and accessibility, making it ideal for a variety of commercial ventures. Public sewer and water are readily available, simplifying the development process. The site is conveniently located in Wellford, Spartanburg County, South Carolina, zip code 29385, with GPS coordinates 34.9468099, -82.0969027. The property benefits from a high daily traffic count of approximately 17,661 vehicles on Highway 29. A strong demographic profile supports this location, with a 5-mile population of 52,913 and an average household income of $80,532 within the same radius. The tax map ID is 5-16-10-018.00. This is one of the few remaining undeveloped properties on this stretch of Highway 29, representing a unique chance to capitalize on a prime commercial location. The asking price for this exceptional opportunity is $340,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wellford
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.0969027
    Latitude
    34.9468099

    Comparable in this City

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      Residential Lot Near Lake Cooley

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      5.65 Acres of Land

      5.65 acres of land available for sale.
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      Available Land Near I-85

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      Land on Greenville Highway

      Strategically located land suitable for development or office space.
      10422 E Greenville Hwy, Wellford, SC 29385
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    • $222,000
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      Wellford Acreage in District Five

      6.74 acre lot in popular District Five location.
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    Similar Nearby for Sale

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      Land on Greenville Highway

      Strategically located land suitable for development or office space.
      10422 E Greenville Hwy, Wellford, SC 29385
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    • $69,900
      0.52 Acres

      Residential Lot Near Lake Cooley

      0.52 acre residential lot near Lake Cooley.
      104 Rocky Water Pt, Wellford, SC 29385
      View Details
    • Contact for pricing

      5.65 Acres of Land

      5.65 acres of land available for sale.
      10418 E Greenville Hwy, Wellford, SC 29385
      View Details
    • Contact for pricing

      Available Land Near I-85

      Land parcels available near I-85, Inland Port, and Airport.
      1 Fort Prince Blvd, Wellford, SC 29385
      View Details
    • Contact for pricing

      Highway 129 Visible Land

      Land with utilities, close to I-85, I-26, Inland Port.
      514 Dewayne Dr, Wellford, SC 29385
      View Details
    • $222,000
      6.74 Acres

      Wellford Acreage in District Five

      6.74 acre lot in popular District Five location.
      Simmons St, Wellford, SC 29385
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo

      Industrial Land with Warehouse

      Industrial land available for lease with flexible storage options.
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      166,000 SF

      Wellford Warehouse with Office Space

      166,000 SF warehouse with office space for lease.
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      249,600 SF

      Industrial Property Near I-26

      Proposed industrial buildings with convenient access to major transportation routes.
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      Wellford Distribution Warehouse Available

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      2,382 SF

      Mixed-Use Retail or Office Space

      New retail or office space in redeveloped Startex Mill.
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      1,800 SF

      Retail Space on Spartanburg Hwy

      Highly visible retail space in a busy shopping center.
      360 Spartanburg Hwy, Wellford, SC 29385
      View Details
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    Wellford, SC 29385
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    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
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