217 Stone AveGreenville, SC 29609

Property Details for 217 Stone Ave

Lot size

0.52 AC

Zone code

C3

Property type

Office properties

Property subtype

Office buildings

APN

0035.00-05-018.00

APU

35000501800

Description

This exceptional redevelopment opportunity presents a 9,609-square-foot, vacant office building situated on a 0.52-acre lot in Greenville, South Carolina. The property, located at 217 E Stone Avenue, boasts a prime location on a heavily traveled corridor experiencing significant growth. The two-story, Class B building, constructed in 1960 and renovated in 2015, offers 41 parking spaces and is zoned MX-2, allowing for diverse development possibilities. The building's masonry construction ensures durability. Its convenient access to I-385, Wade Hampton Boulevard, East North Street, and Laurens Road, coupled with its proximity to downtown Greenville, makes it highly attractive for various uses. The surrounding area is undergoing substantial redevelopment, further enhancing the property's investment potential. The asking price is $1,750,000, translating to $182.12 per square foot. This presents a unique chance to capitalize on Greenville's booming market and create a landmark destination. The property is available for outright purchase and may be considered as part of a larger assemblage with adjacent properties. The flat topography of the site adds to its development appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $4,316,866

  6.5%

  $3,984,799

  7%

  $3,700,170

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,868,479

  Geo Method

  $1,868,479

• Alternative Use

  Use

  Valuation

  Residential

  $4,941,150

  Hospitality

  $4,526,068

  Educational

  $3,765,635

  Medical

  $3,895,141

  Retail

  $5,857,654

Location Insight

City

Greenville

County

Greenville

State

South Carolina

Latitude

34.8609

Longitude

-82.3904

CBSA code

24860

CBSA name

GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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