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    Property profile & analytics

    2 Griffith Rd Greenville, SC 29607-3503

    • Assisted living facilities
    • 5.36 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2021
    $18,206,897
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2256963
    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.

    Current Use by Public Records

    • Patewood Rehabilitation and Healthcare Centers / Rehabilitation Center / Wellness Center
    • Davis Palmer / Occupational Therapist
    • Patewood Post-Acute (formerly Patewood Rehabilitation and Healthcare Center) / Nursing Home
    • EMILY BRITTINGHAM KERBUSKI / Physical Therapist

    Property Details for 2 Griffith Rd

    Year built
    1998
    Lot size
    5.36 lot acres
    Zone code
    PDC,C2
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    0545.01-01-006.01
    APU
    545010100601

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3203
    Latitude
    34.8411
    CBSA code
    24860
    CBSA name
    GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $386,946
    $397,060
    $667,660
    $1,064,720
    -
    $6,617,700
    $11,127,720
    $17,745,420

    Comparable in this City

    • Value Estimation
      $430,000
      3.97 Acres

      360 Woodruff Rd

      HOMES (RETIRED, NURSING) • 3.97 Acres
      360 Woodruff Rd, Greenville, SC 29607-3416
      View Details
    • Value Estimation
      $470,000
      13.00 Acres

      810 Butler Rd

      HOMES (RETIRED, NURSING) • 13.00 Acres
      810 Butler Rd, Greenville, SC 29607-5842
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    • Value Estimation
      $305,000
      4.96 Acres

      35 Southpointe Dr

      HOMES (RETIRED, NURSING) • 4.96 Acres
      35 Southpointe Dr, Greenville, SC 29607-5956
      View Details
    • Value Estimation
      $3,675,000
      9.81 Acres

      3372 Laurens Rd

      HOMES (RETIRED, NURSING) • 9.81 Acres
      3372 Laurens Rd, Greenville, SC 29607-5236
      View Details
    • Value Estimation
      $375,000
      2,320 SF

      267 Old Sulphur Spgs Rd

      HOMES (RETIRED, NURSING) • 2,320 SF
      267 Old Sulphur Spgs Rd, Greenville, SC 29607-4003
      View Details
    • Value Estimation by Request
      9,000 SF

      35 Brookfield Oaks Dr

      Medical offices • 9,000 SF
      35 Brookfield Oaks Dr, Greenville, SC 29607
      View Details

    Similar Nearby for Sale

    • $500,000
      1.17 Acres

      Greenville Medical Office Building

      9,000 SF Office/Lab, $500K
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    • $776,000
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      Prime Greenville Commercial Land

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      Greenville Industrial Land Investment

      Prime Greenville County land, two parcels available.
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    • $525,000
      2.94 Acres

      Greenville Commercial Land - $525K

      2.94-Acre Graded C-3 Site Near Haywood Mall
      0 Npa Wood Lk Rd, Greenville, SC 29607
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    • $6,700,000

      Land with High Traffic Access

      Commercial land with utilities, high traffic, and subdivision potential.
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    • $1,945,000

      Commercial Land with Utilities Available

      Land with all utilities and pylon signs available.
      1469 Woodruff Rd, Greenville, SC 29607
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    Similar Nearby for Lease

    • Contact for pricing
      9,000 SF

      Greenville Medical Office Building

      9,000 SF Medical Office, 1.17 Acres
      35 Brookfield Oaks Dr, Greenville, SC 29607
      View Details
    • Contact for pricing
      50,815 SF

      Mauldin Road Industrial Facility

      ±50,815 SF Warehouse, 15 Acres
      710 Mauldin Rd, Greenville, SC 29607
      View Details
    • $26 SF/Yr
      5,000 SF

      Greenville Executive Office Space

      Prime Greenville location, 1,226 sq ft available.
      1411 Laurens Rd, Greenville, SC 29607
      View Details
    • $40 SF/Yr
      5,000 SF

      Greenville Retail Space For Lease

      Prime Greenville location, 5,000 sq ft retail space.
      1810 Woodruff Rd, Greenville, SC 29607
      View Details
    • $11 SF/Yr
      5,000 SF

      Greenville Flex / Industrial Space

      5,000 SF flex/industrial space available for lease.
      1110 W Butler Rd, Greenville, SC 29607
      View Details
    • $30 SF/Yr
      18,088 SF

      Office or Retail Suites Available

      Suites available for rent, ideal for office or retail tenants.
      1140 E Butler Rd, Greenville, SC 29607
      View Details
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    2 Griffith Rd
    Greenville, SC 29607-3503
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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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