Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    205 Gary Armstrong Rd Greer, SC 29651

    • Auto shops
    • 3,300 SF
    • 3.73 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1280008
    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

    • Auto shops

    Property Details for 205 Gary Armstrong Rd

    Year built
    1980
    Construction
    METAL FRAME
    Lot size
    3.73 lot acres
    Property size
    3,300 SF
    Property type
    Auto shops
    APN
    5-1400-10202
    APU
    5140010202

    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
    Greer
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.1774
    Latitude
    34.955
    CBSA code
    43900
    CBSA name
    SPARTANBURG, 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
    $3,788
    $5,698
    $2,713
    $8,411
    -
    $102,493
    $48,800
    $151,293

    Comparable in this City

    • Value Estimation by Request
      980 SF

      1775 Locust Hl Rd

      AUTO REPAIR, GARAGE • 980 SF
      1775 Locust Hl Rd, Greer, SC 29651-6093
      View Details
    • Value Estimation by Request
      2,100 SF

      877 Hwy 101st S

      AUTO REPAIR, GARAGE • 2,100 SF
      877 Hwy 101st S, Greer, SC 29651-6640
      View Details
    • Value Estimation by Request
      1,248 SF

      405 Frst St

      AUTO REPAIR, GARAGE • 1,248 SF
      405 Frst St, Greer, SC 29651
      View Details
    • Value Estimation by Request
      1.04 Acres

      925 Gsp Dr

      AUTO REPAIR, GARAGE • 1.04 Acres
      925 Gsp Dr, Greer, SC 29651-6520
      View Details
    • Value Estimation by Request
      1,800 SF

      200 Bearden St

      AUTO REPAIR, GARAGE • 1,800 SF
      200 Bearden St, Greer, SC 29651-2574
      View Details
    • Value Estimation by Request
      1,485 SF

      104 Hillcrest Dr

      AUTO REPAIR, GARAGE • 1,485 SF
      104 Hillcrest Dr, Greer, SC 29651-1622
      View Details

    Similar Nearby for Sale

    • New
      $355,000
      0.44 Acres

      Greer Commercial Property with Garage

      Commercial property with three-bay garage in prime Greer location.
      110 Conway Dr, Greer, SC 29651
      View Details
    • $355,000

      Auto Garage Near Wade Hampton

      Commercial property with auto garage, office, and ample parking.
      110 Conway Dr, Greer, SC 29651
      View Details
    • $1,600,000
      0.63 Acres

      Adaptable Commercial Building on Wade Hampton

      Freestanding 13,600 SF commercial building with multi-occupancy flexibility.
      14629 E Wade Hampton Blvd, Greer, SC 29651
      View Details
    • $2,450,000
      7,700 SF

      Downtown Greer Executive Office Building

      7,700 SF Executive Office, prime location.
      118 Victoria St, Greer, SC 29651
      View Details
    • $1,850,000
      14,200 SF

      Greer Flex Space: Main Street Gem

      14,200 SF Flex Space - $1.85M
      913 Main St, Greer, SC 29651
      View Details
    • $1,770,000
      1.18 Acres

      Prime Greer Commercial Land

      1.18 Acres, High Visibility, Ready to Build
      12503 Wade Hampton Blvd, Greer, SC 29651
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      12,000 SF

      Greer Retail Center Opportunity

      High-traffic retail space, Greer, SC
      1963 Sc-101, Greer, SC 29651
      View Details
    • Contact for pricing
      2,400 SF

      Greer Retail & Restaurant Space

      Retail, restaurant, and medical office spaces available for lease.
      2000 Highway 101 S, Greer, SC 29651
      View Details
    • Contact for pricing
      38,588 SF

      Retail Anchor Suite in Greer

      Anchor suite available in Greer's retail corridor.
      14182 E Wade Hampton Blvd, Greer, SC 29651
      View Details
    • $7 SF/Yr
      20,000 SF

      Country Plaza Office Suites

      Greer, SC retail/office space available
      13435 Wade Hampton Blvd, Greer, SC 29651
      View Details
    • $11 SF/Yr
      3,048 SF

      Greer Office/Retail Space Available

      Prime Greer location, flexible office suites.
      1788 Poinsett Street Ext, Greer, SC 29651
      View Details
    • Contact for pricing
      3,005,640 SF

      GSP Airport Commercial Land Tract

      69-Acre Airport Land, Greer, SC
      1549 Gsp Dr, Greer, SC 29651
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    205 Gary Armstrong Rd
    Greer, SC 29651
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.