3 New Banks Being Built on Woodruff Road
A running joke on one of the Simpsonville Facebook Group’s that I’m part of is that when new construction starts on a particular parcels, people will jump in and try to guess what’s being built. Most of the time they are looking for new restaurants or a Trader Joes. I just published an article on this exact topic. The most common sarcastic comments tend to be…carwash, Waffle House, and dentists offices. Well I think we could now add a meme around banks being built because there have been a lot of new bank branches that have been built across Greenville County.
On Woodruff Road right now between I-385 and Five Forks, there are 3 brand new bank buildings currently being constructed. Fifth Third has made a big move into Greenville and they have two of the buildings going up. The other building is for First National Bank.
Building these bank buildings is not cheap…but again nothing is cheap today when it comes to commercial, or residential, construction. I suspect part of the differences in these prices might well be the size of the parking lots but also perhaps the site work that needed to be completed to build these buildings. For the Fifth Third buildings, they are both replacing old gas stations that were not exactly pleasing to the eye. It looks like in reading of the tax records and the building permits that each of these buildings are owned by different entities and these banks are leasing the space from them. According to the building permits filed with Greenville County, the Fifth Third Bank building at 1510 Woodruff Road will cost $1,950,000. The Fifth Third Bank building at 2608 Woodruff Road in Five Forks will cost $2,350,000. The First National Bank building at 1217 Woodruff Road will cost $1,500,000.
Here are the other two banks being built along with a list of other banks along Woodruff Road. It’s a popular location for banks I’m sure in part because the traffic counts are typically about 90,000 per day in the area.
Here’s a look at the other banks along Woodruff Road between I-385 and the Five Forks area.
About The Author
John Murphy
Husband of 34 years to my college sweetheart, Janet Murphy (@janetmurphydesign on Instagram). Together we have 6 wonderful children from ages 15-31 and 5 grandchildren. I’ve been a licensed REALTOR since 2003 and broker since 2007. I also am a cost segregation specialist helping building owners and real estate investors maximize their tax deductions, save thousands on their income taxes and increase their cash flow. If you’re a building owner you probably haven’t done a study…let’s connect. There is no obligation. We can run an estimate for you and really every building should be evaluated if the basis is over $150,000. I can work all over the country and not just here in the Upstate. We relocated to Greenville, SC for the lifestyle, lower cost of living, amazing amenities in the area and the growth opportunity for business and real estate. We absolutely love it here!
All opinions are expressly my own and do not represent either eXp Realty LLC, Cost Segregation Services, Inc. or any other company, organization or group that I might be affiliated with.