212 Rice Rd - Apartments FOR SALE


Easley, SC 29640
$7,500,000 USD
919-323-0118
212 Rice Rd, Easley, SC for Sale
$7,500,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

212 Rice Rd
Easley, SC 29640


HIGHLIGHTS

  • 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.
  • Limited supply of studio and 1 BR units in the market; the units can command significant per sf premium.
  • Property is on the new, 7.5-mile Doodle Trail.

OVERVIEW

This rare mill redevelopment 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. Project is "shovel ready" (building plans complete)/waiting on construction permits For the full details on this development opportunity, register for the Offering Memorandum at alysmillsc.com

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$26 USD /SF

# OF UNITS

200

PRICE/UNIT

$37,500

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alys Mill

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

18.3 AC

LAND SF

797,148 SF

ZONING

MF

APN/PARCEL ID

5009-08-78-8883,5009-08-79-5182,5009-08-88-1781

ASK ABOUT THIS PROPERTY

919-323-0118

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919-323-0118

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