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Abacus Capital Acquires Development Site In Greenville SC From Urban Realty Partners For $11.05M

Property Image
SOLD
$11,050,000
Gary Lyons
Connor Burke
Wes Boatwright
+ 1

South Carolina

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Development Site80,985 SF
Sold 12/11/2024
the dealplayerscompscontact
Property Image
SOLD

Abacus Capital Acquires Development Site In Greenville SC From Urban Realty Partners For $11.05M

1320 Hampton Ave

See Similar Deals
Development Site80,985 SF
Sold 12/11/2024
Gary Lyons
Connor Burke
Wes Boatwright
+ 1
the dealplayerscompscontact
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Summary

SOUTH CAROLINA
Asset Type:Development Site
Price Per Square Foot:$136
Total Square Footage:80,985 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 1320 Hampton Ave, Greenville, SC. It encompasses a total square footage of approximately 80,985 and was sold for a price of $11,050,000, translating to a price per square foot of $136.

Summary of transaction details:

The transaction marks the entry of Abacus Capital into the Upstate South Carolina market. The sale of Hampton Station was facilitated by Avison Young, reflecting a strategic move within the real estate sector of the region.

Players

Wes Boatwright
Avison Young
Wes Boatwright
5 deals$254.9M volume
BROKER
Connor Burke
Avison Young
Connor Burke
2 deals$57.7M volume(434) 414-4573
BROKER
Gary Lyons
Avison Young
Gary Lyons
3 deals$30.2M volume(919) 323-0118
BROKER
Rob Howell
Avison Young
Rob Howell
1 deal$11.1M volume(404) 493-3904
BROKER

Details

SOLD
IMAGE: 12/11/2024 ADDRESS: 1320 Hampton Ave MARKET: Greenville, SC ASSET TYPE: Development Site BUYER: Abacus Capital SELLER: Urban Realty Partners BROKERS: Connor Burke, Gary Lyons, Rob Howell & Wes Boatwright - Avison Young SALE PRICE: $11,050,000 SF: 80,985 ~ PPSF: $136 NOTE: Avison Young facilitated the $11.05M sale of Hampton Station, a ±80,985-sf mixed-use development in Greenville, SC, to Abacus Capital, marking the firm’s entry into the Upstate South Carolina market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$589,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,258.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,382.64
Annual Debt Service$628,591.65