Contiguous to Greenville/Spartanburg - Wallace Thomson Hospital Adaptive Reuse - Workforce & USC Student Housing - Bailey Bill & Historic Tax Credits - Cost Under $2M

322 West South Street, Union, SC 29379

Property Information

  • For Sale $1,975,000
  • Property Type Other
  • Property Size 127,000 SF
  • Units 1
  • Lot Size 7.6 Acre
  • Parking Spaces Avail. 246
  • Year Built 1921
  • Date Updated May 18, 2026

Description

Hospital Adaptive Reutilization with a huge tier of Tax Credits and other structures within the scope of the University of South Carolina Union Campus envisioned here: This is a massive facility with a fully running Physical Plant coupled with 246 parking spaces and all the components of a Hospital poised for change to serve Workforce Housing and Student Housing that is currently not adequately served. The valuation of this Hospital is over $7M but this acquisition can be made for under $2M. **Conceptualize and understand this very clearly, Union County is a Tier Four Incentives County adjacent to the explosive growth of Greenville/Spartanburg. This is the Expansion Zone and over four new Industrial Projects are being considered now. See: as an absolute to understand the scope of this. This asset is the totality of a Hospital and its as is, where is footprint for identified utilization. Massive Tax Credit Structure to proceed. Get in touch and I can facilitate additional development as well. Success for all concerned. +/- 19.6 Miles to Interstate I-26 Access +/- 28.4 Miles to Interstate I-85 Access +/- 38.4 Miles to Interstate I-77 Access +/- 43.5 Miles to Greenville International Airport +/- 76 Miles to Charlotte International Airport

Highlights

  • Bailey Bill Tax Credits: https://www.masc.sc/uptown/11-2020/economic-development-tools-bailey-bill The assessed value is typically frozen for 15–20 years, preventing tax increases due to improvements.
  • Hospital Adaptive Reutilization for Workforce Housing - University of South Carolina Union Students | Nursing and Others $600+ per head per month estimated or more.
  • In addition to that Historic Tax Credits: https://www.masc.sc/uptown/10-2019/economic-development-tools-historic-rehabilitation-credits. Effectively you profit and tax implications are frozen for up to twenty (20) years. Consult a Tax Attorney for finalized advice.
  • Massive Industrial Development in Tier 4 Incentives County Adjacent to Greenville/Spartanburg Maxed Out Area. See: https://uniondevboard.wpengine.com/ and get in contact with me regarding other development plans that I can facilitate with the County.
  • SEE: https://acrobat.adobe.com/id/urn:aaid:sc:us:54295e52-277c-4009-9d60-6069c518ec54

Contacts

Gilbert Bradham

SVN | Southern Commercial Real Estate

Location

Contact Listing Broker
Gilbert Bradham

SVN | Southern Commercial Real Estate

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