Office Property with Great
New
For Sale
$435,000
103 Mimosa Drive, Greer, SC 29650
Commercial/Industrial, Greer, SC
Property Size1,800 SF
Lot Size0.64 Acres
Price / SF$241.67
Days on Market2
Property Features for 103 Mimosa Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
021
Standard status
Active
APN
G010000500300
Lot size
0.64 Acres
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
hardwood and tile flooring
updated full bath
kitchen with appliance package
great room with exposed beams and fireplace
screened porch
brick patio with outdoor fireplace
mature grounds
Building Details
Flooring type
Wood, Tile
Building materials
Converted Residence
Roof type
Composition
Listing Agency:
Keller Williams Grv Upst · Keller Williams Realty
(864) 234-7500
Listed By:
Zach Brinson · License #106615
(864) 915-2946
Added: Sep 25
Last Checked: Sep 26 at 7:06AM
MLS# 1604991
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.
Configured as a converted residence, the property has approximately 1,800 square feet across multiple rooms that can accommodate office or meeting functions. Wood and tile flooring run through the interior, which also includes an updated full bath and a kitchen with appliances. The 26' x 17' great room features exposed beams and a fireplace. A screened porch connects directly to the driveway, while a brick patio has an outdoor fireplace. The grounds extend across 0.64 acres and include on-site parking.
The property is at 103 Mimosa Drive in Greer, between Downtown Greer and Wade Hampton Boulevard. A commercial or Office Professional zoning change may be possible; buyers should confirm zoning, permitted uses, and requirements with the governing authority.
The property is at 103 Mimosa Drive in Greer, between Downtown Greer and Wade Hampton Boulevard. A commercial or Office Professional zoning change may be possible; buyers should confirm zoning, permitted uses, and requirements with the governing authority.
Key Highlights
- Approximately 1,800 square feet on 0.64 acres
- 26' x 17' great room with exposed beams and fireplace
- Multiple interior rooms, updated full bath, and kitchen with a full appliance package
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
$27,683
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
6.36%
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%
$553,660
$553.7K
Cap Rate 7%
$395,471
$395.5K
Cap Rate 9%
$307,589
$307.6K
Market Conditions
NOI Build-Up for 1,800 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
$41.5K $23.04/SF
− Vacancy
−$4.6K −$2.53/SF
EGI
$36.9K $20.51/SF
− OpEx
−$9.2K −$5.13/SF
NOI
$27.7K $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%
$553,660
Cap Rate 7%
$395,471
Cap Rate 9%
$307,589
Alternative Uses
Best Use
Office B
$395.5K
$346.0K – $461.4K
NOI $27,683 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.1K
$672.9K – $897.3K
NOI $53,835 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 29650, SC
38,721
Population
17,048
Households
2.3
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,151
Density / Sq Mi
$91,640
Median Household Income
$49,567
Median Earnings
$1,344
Median Rent
$332,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - A converted residence offers multiple rooms, on-site parking, and a screened porch with driveway access.
Where is this office units located?
The property is located at 103 Mimosa Drive Greer, SC.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Approximately 1,800 square feet on 0.64 acres; 26' x 17' great room with exposed beams and fireplace; Multiple interior rooms, updated full bath, and kitchen with a full appliance package
