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Multi-Family

840 Piney Grove Rd

840 Piney Grove Rd, Columbia, SC 29210

Listing Price: $650,000

Lot Size
5.94 acres
Price/Acre
$109,428
Land Type
Land

Investment Overview

Marcus and Millichap is pleased to present for sale 5.94 acres of land zoned High Density Residential in Columbia, SC. The property is conveniently located just 9 miles north west from Columbia's central business district and only 2 miles from Columbias largest retail area, the Harbison Blvd district, that has lots of restaurants and shopping options including Columbiana Center Mall.
The site has access from Piney Woods Rd and is only one-half mile to I-26 which has a Costco, Starbucks, and other restaurant and convenience options. Within three miles of the site are three grocery store options including Costco, Publix, and Food Lion. The location has excellent proximity to the most heavily traveled interstate in South Carolina (I-26) and a convenient zone access to two major arterial roads, St. Andrews Rd and Broad River Rd, which offers a short commute to major employers in Richland and Lexington county.
According to Costar the vacancy rate in this Submarket for 2000 or newer construction has compressed moderately over the past four quarters to 5.7%, with an average rent of $1,256.
Nothing has delivered here over the past year. Over the past five years, the submarket's existing inventory has contracted due to demolitions. New supply will remain minimal in the near-term as nothing is currently underway. Rents have increased by an impressive 4.9% over the past year, which significantly exceeds the average annual growth of 3.5% over the past decade.
This property is contiguous to another 15.4 acres which together would allow for 300 units.

Investment Highlights

  • 5.94 Acres Zoned RM-HD - Allows for 16 Units Per Acre - Frontage on Piney Grove Rd
  • Contiguous to 15.4 Acres Zoned RM-HD - 21 Acres Allows for 300 Units
  • Only Half Mile to I-26 - Five Minutes to Downtown Columbia and Two Miles to Harbison

Exclusively Listed By

Listing Price: $650,000

Lot Size
5.94 acres
Price/Acre
$109,428
Land Type
Land

Investment Highlights

  • 5.94 Acres Zoned RM-HD - Allows for 16 Units Per Acre - Frontage on Piney Grove Rd
  • Contiguous to 15.4 Acres Zoned RM-HD - 21 Acres Allows for 300 Units
  • Only Half Mile to I-26 - Five Minutes to Downtown Columbia and Two Miles to Harbison

Investment Overview

Marcus and Millichap is pleased to present for sale 5.94 acres of land zoned High Density Residential in Columbia, SC. The property is conveniently located just 9 miles north west from Columbia's central business district and only 2 miles from Columbias largest retail area, the Harbison Blvd district, that has lots of restaurants and shopping options including Columbiana Center Mall.
The site has access from Piney Woods Rd and is only one-half mile to I-26 which has a Costco, Starbucks, and other restaurant and convenience options. Within three miles of the site are three grocery store options including Costco, Publix, and Food Lion. The location has excellent proximity to the most heavily traveled interstate in South Carolina (I-26) and a convenient zone access to two major arterial roads, St. Andrews Rd and Broad River Rd, which offers a short commute to major employers in Richland and Lexington county.
According to Costar the vacancy rate in this Submarket for 2000 or newer construction has compressed moderately over the past four quarters to 5.7%, with an average rent of $1,256.
Nothing has delivered here over the past year. Over the past five years, the submarket's existing inventory has contracted due to demolitions. New supply will remain minimal in the near-term as nothing is currently underway. Rents have increased by an impressive 4.9% over the past year, which significantly exceeds the average annual growth of 3.5% over the past decade.
This property is contiguous to another 15.4 acres which together would allow for 300 units.

Exclusively Listed By

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