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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    501 Norris Dr Central, SC 29630-8620

    • Outlet malls
    • 8,901 SF
    OFF-MARKET
    Value Estimations
    $1,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0631268
    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

    • Dollar General / Convenience Store / Party Store
    • FedEx OnSite / Mailing Service
    • Western Union / Money Transfer Service / Money Order Service

    Property Details for 501 Norris Dr

    Year built
    2014
    Construction
    STEEL FRAME
    Property size
    8,901 SF
    Property type
    Outlet malls
    APN
    4076-06-38-6084
    APU
    407606386084

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,440,000
      6.5%
      $1,330,000
      7%
      $1,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,308,000
      Market price range: $384k - $1.31M
      AI Estimate
      $963,000
      Market price range: $288k - $963k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $915,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,680,000
      Change: +84% Conversion: Difficult
      MEDICAL BUILDING
      $1,605,000
      Change: +76% Conversion: Difficult
      OFFICE BUILDING
      $1,250,000
      Change: +37% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,100,000
      Change: +20% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $920,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Central
    County
    Pickens
    State
    South Carolina
    Longitude
    -82.7523
    Latitude
    34.7565
    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
    $16,384
    $10,800
    $57,860
    $68,660
    -
    $180,000
    $964,400
    $1,144,400

    Comparable in this City

    • Value Estimation
      $13,615,000
      196,017 SF

      1286 18th Mile Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 196,017 SF
      1286 18th Mile Rd, Central, SC 29630-8605
      View Details
    • Value Estimation
      $675,000
      10,440 SF

      1276 18th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 10,440 SF
      1276 18th Mile Rd, Central, SC 29630-8614
      View Details
    • Value Estimation
      $4,655,000
      35,280 SF

      1280 18th Mile Rd Ste A

      SHOPPING CENTER, STRIP CENTER • 35,280 SF
      1280 18th Mile Rd Ste A, Central, SC 29630-8601
      View Details
    • Value Estimation
      $660,000
      9,919 SF

      612 Issaqueena Trl

      SHOPPING CENTER, STRIP CENTER • 9,919 SF
      612 Issaqueena Trl, Central, SC 29630-4434
      View Details
    • Value Estimation
      $605,000
      9,145 SF

      616 Issaqueena Trl

      SHOPPING CENTER, STRIP CENTER • 9,145 SF
      616 Issaqueena Trl, Central, SC 29630-4434
      View Details
    • Value Estimation
      $1,200,000
      6,360 SF

      833 Main St

      MINI-MALL • 6,360 SF
      833 Main St, Central, SC 29630-9227
      View Details

    Similar Nearby for Sale

    • $375,000
      0.72 Acres

      Central SC Restaurant/Retail Opportunity

      Prime 0.72-acre lot, 686 sq ft building.
      821 Main St, Central, SC 29630
      View Details
    • $2,560,000
      6,765 SF

      NNN Leased Auto Shop For Sale

      NNN leased auto shop with corporate guaranty for sale.
      1277 Eighteen Mile Rd, Central, SC 29630
      View Details
    • $375,000
      686 SF

      Retail Opportunity with Road Frontage

      Flat site suitable for retail, restaurant, or automotive businesses.
      821 W Main St, Central, SC 29630
      View Details
    • $163,000
      2.96 Acres

      Residential Land in Central, SC

      2.96 acres of land for residential construction.
      00 Pin Du Lac Dr, Central, SC 29630
      View Details
    • $35,000
      Pending

      Central SC Land Parcel

      One-acre parcel near Southern Wesleyan University, Central, South Carolina.
      400 Simms School Rd, Central, SC 29630
      View Details
    • $549,000

      Recreational Land Near Twelve Mile

      Land with river access, suitable for recreation or residence.
      175 Old Henderson Rd, Central, SC 29630
      View Details
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    501 Norris Dr
    Central, SC 29630-8620
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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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