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2424 S Frontage Road
Gray Court, SC 29645
Abe Mills with Keller Williams Grv Upst, original listing - (864) 234-7500
$2,500,000
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
Classic Cars of South Carolina Inc. 2424 S Frontage Road Gray Court, SC 29645 FOR SALE Real estate along with all current automotive inventory, including complete vehicles as well as all parts vehicles and parts inventory. 12000 SF Warehouse, numerous outbuildings and junkyard permitted  Abe Mills, ALC along with Julia Lezcano with Keller Williams Greenville Upstate SC as exclusive representatives are pleased to offer this once in a lifetime opportunity to acquire this expansive industrial property along with a thriving classic car business located in Gray Court, SC offering an impressive 6.59 acres of improved land, making it an ideal location for a variety of businesses and uses. The property is currently home to the world renown Classic Cars of South Carolina Inc., which also has a grandfathered junkyard/salvage use permit providing flexibility for a range of industrial and light manufacturing activities.   Classic Cars of South Carolina is a family business that started in the 1950s and has passed from one generation to the next. This business boasts a robust inventory of both complete and running vehicles, as well as a full-scale operating junkyard full of parts and a warehouse as well as numerous outbuildings chock full of pulled parts. This thriving business is one of a kind and eh business along with all inventory will convey with the sale. The current owner is retiring and would love to see nothing more than his lifetime hobby, turned full time job, continue on for generations to come. One of the standout features of this property is its prime location along Highway 385 which is one of South Carolina’s major industrial corridors. With around 500 feet of frontage, the property benefits from high visibility and exposure to an average daily traffic count of almost 42,000 cars, with quick access to other main highways, making it an excellent choice for businesses seeking to establish a strong presence in the area with quick access to and from other parts of the country.  For Industrial businesses that require proximity to air transportation, this property is ideally located less than 25 miles away from Greenville Spartanburg International Airport. And for businesses involved in rail trade, the property is situated around 25 miles away from the Inland Port of Greer, one of the largest and busiest inland ports in the Southeast. Outside of the amazing business and full inventory, this industrial 6.6-acre gem, offers an exceptional combination of space, location, and transportation access, making it a rare and highly desirable find for businesses seeking to establish or expand their operations within the Greenville/Spartanburg/Laurens thoroughfare. Add the business and inventory to it and you have one of the most unique opportunities you will ever find in life. Main Building: 12,840SF Lot size: 6.59 Acres
Property Information
Lot Size
6 acre(s) square ft
Property Type
Commercial Sale-Other
Year Built
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MLS Number
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Location
Address
2424 S Frontage Road
City
Gray Court
State
SC
Zip Code
29645
County
LAURENS
Listing
Name
Phone
(864) 281-0680
Office Name
Office Phone
(864) 234-7500
Agent Name
Abe Mills
Agency Phone
(864) 234-7500

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.