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.. Southeast Pickens demonstrates strong fundamentals, making it an ideal location for multifamily development. With limited new supply in the pipeline and no construction starts in the past 12 months, demand remains high, supported by consistent rent growth. The submarket’s average building age of 42 years and minimal loft inventory underscore the opportunity for modern redevelopment. Alys Mill qualifies for multiple tax credits, including 15 years of flat taxes through the Bailey Bill, and is also situated in an Opportunity Zone. For the full details on this development opportunity, register for the Offering Memorandum at https://www.avisonyoung.us/properties/212-rice-road-easley-sale

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

-

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

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

919-323-0118

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.