919-323-0118
212 Rice Rd, Easley, SC for Sale
Apartments - FOR SALE
1/7
null | Request Cap Rate

212 Rice Rd
Easley, SC 29640


HIGHLIGHTS

  • Pickens County moratorium on all multi-unit residential extended 6 months (through 10/1/24)
  • Limited supply of new multifamily in the current development pipeline (lower vacancy than Greenville)
  • Bailey Bill tax abatement projected yield upwards of $4.65M in savings (over 15 yrs)
  • Property approved for Historic & Textile Mill Rehabilitation tax credits (approx. 40% rebate on construction costs)
  • Consistent submarket rent growth in recent years: rates averaging $1.35-1.60 sf/month
  • Limited supply of studio and 1 BR units in the market; the units can command significant per sf premium

OVERVIEW

Fully entitled, multifamily redevelopment. This rare mill project represents an extraordinary opportunity for a multifamily developer seeking a high visibility project in a tight submarket. Qualifies for multiple tax credits and is also situated in an Opportunity Zone. For the full details on this development opportunity, download the Offering Memorandum at http://properties.avisonyoung.com/212-rice-road-easley-sale.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

200

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alys Mill - Call for Offers: July 26, 2024

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

19.2 AC

LAND SF

836,352 SF

ZONING

MF

APN/PARCEL ID

5009-07-79-1135

ASK ABOUT THIS PROPERTY

919-323-0118

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919-323-0118

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