Medical Office Building in Medical
For Sale
Contact for pricing
10 Memorial Medical Drive, Greenville, SC 29605
Medical office building offered for sale or lease inside Memorial Medical Park near I-185.
Property Size7,000 SF
Price / SF$117.86
Days on Market62
Property Features for 10 Memorial Medical Drive
General Information
Standard status
Active
Size
7,000 SF
Class
C
Property subtype
Office
Lease Type
NNN
Building Details
Stories
2
Tenancy
Single
Listing Agency:
Trinity Partners
(864) 554-4954
Listed By:
EDWARD WILSON · License #SC
Source:
Crexi
Added: Jun 29
Changed: Aug 8
Last Checked: Jul 4 at 2:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trinity Partners
Investment Insights
Based on property information with market context.
This medical office building is available for sale or lease and is designed to support healthcare-focused office use. The property is offered as a single building opportunity within a broader medical park setting, providing a straightforward platform for practices seeking dedicated office space.
The building is located at 10 Memorial Medical Drive in Greenville, South Carolina, within Memorial Medical Park and close to I-185. That placement supports convenient access for patients, staff, and referrals, given its proximity to a major roadway and the established medical campus environment.
For medical providers and office users looking to operate in a park-based setting, this offering may fit well due to its dedicated medical office character and location within Memorial Medical Park. Whether you are planning for a new site or consolidating operations, the property’s availability for both purchase and lease gives flexibility depending on your timeline and occupancy strategy.
The building is located at 10 Memorial Medical Drive in Greenville, South Carolina, within Memorial Medical Park and close to I-185. That placement supports convenient access for patients, staff, and referrals, given its proximity to a major roadway and the established medical campus environment.
For medical providers and office users looking to operate in a park-based setting, this offering may fit well due to its dedicated medical office character and location within Memorial Medical Park. Whether you are planning for a new site or consolidating operations, the property’s availability for both purchase and lease gives flexibility depending on your timeline and occupancy strategy.
Key Highlights
- ±7,000 SF medical office building for sale or lease
- Located within Memorial Medical Park
- Convenient to I‑185
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
$23,083
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
2.80%
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%
$461,660
$461.7K
Cap Rate 7%
$329,757
$329.8K
Cap Rate 9%
$256,478
$256.5K
Market Conditions
NOI Build-Up for 7,000 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
$42.0K $6.00/SF
− Vacancy
−$3.5K −$0.50/SF
EGI
$38.5K $5.50/SF
− OpEx
−$15.4K −$2.20/SF
NOI
$23.1K $3.30/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
40.00%
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%
$461,660
Cap Rate 7%
$329,757
Cap Rate 9%
$256,478
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.79M
NOI $107,654 @ 7.0% cap · market cap 13.05%
Second Best
Healthcare Medical
$329.8K
$288.5K – $384.7K
NOI $23,083 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,358 @ 7.0% cap · market cap 25.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,902
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29605, SC
36,970
Population
17,013
Households
2.2
Avg Household Size
37
Median Age
34%
College-Educated
86%
High-School Grad
24.8 sq mi
ZIP Area
1,491
Density / Sq Mi
$63,717
Median Household Income
$39,518
Median Earnings
$1,049
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building offered for sale or lease inside Memorial Medical Park near I-185.
Where is this medical office space located?
The property is located at 10 Memorial Medical Drive Greenville, SC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: ±7,000 SF medical office building for sale or lease; Located within Memorial Medical Park; Convenient to I‑185
