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    402 College Ave Clemson, SC 29631-2923

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    402 College Ave Clemson, SC 29631-2923

    View on Map
    • Medical Office Space
    • 5,127 SF
    • 0.67 lot acres
    Off-Market
    Last Sale Sep 21, 2021
    $1,400,000
    Property ID
    US77-0873072
    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
    $1,330,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Edward Jones - Financial Advisor: Lee Woods / Financial Advisor
    • Susie Swann / Pharmacy
    • Thomas Teasley / Pharmacy
    • Laura Wagner / Pharmacy
    • Dr. Scott A. Mouzon, DMD / Dental Office

    Property Details for 402 College Ave

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.67 lot acres
    Property size
    5,127 SF
    Zone code
    CP 1 NEIGH BUS DISTRICT
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    4044-16-83-3250
    APU
    404416833250

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,385,000
      ML approach
      $1,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,159,000
      Market price range: $473k - $1.16M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $925,000
      Current use
      RESTAURANT
      $1,415,000
      Change: +53% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $970,000
      Change: +5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Clemson
    County
    Pickens
    State
    South Carolina
    Longitude
    -82.835
    Latitude
    34.687
    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
    $23,854
    $39,000
    $44,990
    $83,990
    -
    $650,000
    $749,900
    $1,399,900

    Comparable in this City

    • Value Estimation
      $545,000
      4,750 SF

      522 College Ave

      MEDICAL BUILDING • 4,750 SF
      522 College Ave, Clemson, SC 29631-1443
      View Details
    • Value Estimation
      $3,005,000
      21,573 SF

      895 Tiger Blvd

      MEDICAL BUILDING • 21,573 SF
      895 Tiger Blvd, Clemson, SC 29631-1480
      View Details
    • Value Estimation by Request
      1,231 SF

      226 Frontage Rd

      MEDICAL BUILDING • 1,231 SF
      226 Frontage Rd, Clemson, SC 29631-1642
      View Details
    • Value Estimation
      $2,550,000
      6,486 SF

      931 Tiger Blvd

      MEDICAL BUILDING • 6,486 SF
      931 Tiger Blvd, Clemson, SC 29631-1419
      View Details
    • Value Estimation by Request
      2,170 SF

      214 Frontage Rd

      MEDICAL BUILDING • 2,170 SF
      214 Frontage Rd, Clemson, SC 29631-1642
      View Details
    • Value Estimation by Request
      2,245 SF

      400 Pendleton Rd

      MEDICAL BUILDING • 2,245 SF
      400 Pendleton Rd, Clemson, SC 29631-2211
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Renovated apartment community, offering competitive living spaces.
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      Clemson Tailgating Lot Opportunity

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    • New
      $419,900
      Pending

      Updated Duplex Near Clemson Campus

      Charming duplex near Clemson, updated with modern amenities and spacious layout.
      119 Clemson St, Clemson, SC 29631
      View Details
    • $1,349,990
      0.48 Acres

      Commercial Building on Highway 123

      Commercial building in Clemson with ample parking and high traffic.
      990 Tiger Blvd, Clemson, SC 29631
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    • $435,000
      1.50 Acres

      Prime Land Near Walker Course

      1.5-acre lot near Clemson University, ideal for game day.
      609 Cherry Rd, Clemson, SC 29631
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Clemson University

      Retail space on high-traffic corridor near Clemson University.
      107 Canoy Ln, Clemson, SC 29631
      View Details
    • Contact for pricing
      1,401 SF

      Retail/Restaurant Space Near Clemson University

      Retail/restaurant spaces available in mixed-use student housing project.
      114 Earle St, Clemson, SC 29631
      View Details
    • Contact for pricing
      3,500 SF

      Retail/Restaurant Space Near Clemson University

      Retail/restaurant space with dedicated parking and lake access.
      894 Tiger Blvd, Clemson, SC 29631
      View Details
    • Contact for pricing
      1,233 SF

      Retail Space Near Clemson University

      Publix-anchored retail space with high visibility near Clemson University.
      1390 Tiger Blvd, Clemson, SC 29631
      View Details
    • Contact for pricing
      4,029 SF

      Freestanding Restaurant Space Available

      4,029 SF freestanding restaurant with drive-thru in Clemson, SC.
      1071 Tiger Blvd, Clemson, SC 29631
      View Details
    • $2,800 /Mo

      Downtown Clemson Retail Space Available

      Retail space in downtown Clemson, formerly a coffee shop.
      382 College Ave, Clemson, SC 29631
      View Details

    Property Visit Statistics

    • Visits by month
      222
    • Visitors by month
      191
    • Avg Time on site
      27 min
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    Clemson, SC 29631-2923
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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.

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    402 College Ave, Clemson, SC, 29631

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