Freestanding Office
For Sale
$495,000
106 S Texas Avenue, Greenville, SC 29611
Lots/Land, Greenville, SC
Property Size2,384 SF
Lot Size0.57 Acres
Price / SF$207.63
Days on Market47
Property Features for 106 S Texas Avenue
General Information
Property type
Land
Property subtype
Other
Lot features
Corner, Business District
Elementary school
Hollis
Middle school
Tanglewood
High school
Carolina
Subdivision
074
Standard status
Active
APN
0228000300506
Lot size
0.57 Acres
Utilities
Water source
Public
Listing Agency:
Keller Williams DRIVE · Keller Williams Realty
(864) 900-2963
Listed By:
Mark Foster · License #24102
(864) 275-1658
Added: Jul 31
Changed: Sep 5
Last Checked: Sep 15 at 7:06AM
MLS# 1599331
Copyright © 2026 Greater Greenville Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding office building at 106 S Texas Avenue combines mid-century design with a practical professional layout. The 2,384 square foot property includes an executive office with private restroom, five additional private offices, reception and collaborative workspace, multiple restrooms, and a storage or supply room with short dock access. A glass entry, exposed wood details, terrazzo floors, and abundant natural light are among the building’s notable physical features.
The property occupies a 0.57-acre corner parcel with approximately 20 on-site parking spaces. It is located along U.S. Highway 123, less than one mile from the Judson Mill District and approximately two miles from Downtown Greenville, the West End, Unity Park, Fluor Field, and Bon Secours St. Francis Downtown campus. Office District (OD) zoning supports professional office and commercial uses, while public water serves the property.
The property occupies a 0.57-acre corner parcel with approximately 20 on-site parking spaces. It is located along U.S. Highway 123, less than one mile from the Judson Mill District and approximately two miles from Downtown Greenville, the West End, Unity Park, Fluor Field, and Bon Secours St. Francis Downtown campus. Office District (OD) zoning supports professional office and commercial uses, while public water serves the property.
Key Highlights
- 2,384 square foot freestanding office building
- 0.57‑acre corner parcel with approximately 20 on‑site parking spaces
- Executive office with private restroom plus five additional private offices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,664
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$733,280
$733.3K
Cap Rate 7%
$523,771
$523.8K
Cap Rate 9%
$407,378
$407.4K
Market Conditions
NOI Build-Up for 2,384 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.9K $23.04/SF
− Vacancy
−$6.0K −$2.53/SF
EGI
$48.9K $20.51/SF
− OpEx
−$12.2K −$5.13/SF
NOI
$36.7K $15.38/SF
Area
Greenville County, SC
Vacancy
11.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$733,280
Cap Rate 7%
$523,771
Cap Rate 9%
$407,378
Alternative Uses
Best Use
Office B
$523.8K
$458.3K – $611.1K
NOI $36,664 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,301 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 29611, SC
32,413
Population
14,620
Households
2.2
Avg Household Size
36
Median Age
19%
College-Educated
78%
High-School Grad
23.9 sq mi
ZIP Area
1,356
Density / Sq Mi
$47,046
Median Household Income
$32,272
Median Earnings
$1,092
Median Rent
$163,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Greenville, SC
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Frequently Asked Questions
What type of property is this?
Office building - Mid-century office property with private offices, reception space, natural light, and short dock access.
Where is this office building located?
The property is located at 106 S Texas Avenue Greenville, SC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,384 square foot freestanding office building; 0.57‑acre corner parcel with approximately 20 on‑site parking spaces; Executive office with private restroom plus five additional private offices
