Drive-Through Flex
For Sale
Contact for pricing
1055 Park West Blvd, Greenville, SC 29611
Fenced commercial facility combining office, shop, yard, and tractor-trailer parking areas.
Property Size5,500 SF
Price / SF$454.55
Days on Market8
Property Features for 1055 Park West Blvd
General Information
Standard status
Active
Size
5,500 SF
Property subtype
INDUSTRIAL
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14.6 ft
Office Build-Out
1,500 SF
Drive-In Doors
4
Listing Agency:
Wilson Kibler | Greenville
(864) 444-4814
Listed By:
Scott Snedigar · License #82732
Source:
Moodyscre
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 9:04AM
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 Wilson Kibler | Greenville
Investment Insights
Based on property information with market context.
This flex space includes approximately 1,500 SF of office area and approximately 4,000 SF of shop space with a supply room. Four 12' x 14' drive-in doors are positioned on opposite sides of the building, supporting drive-through access, and an additional 8' x 10' door serves the compressor building. Interior clear height measures 14' 7" under the center beam and 14' 6" at the eave.
The fully fenced property provides acreage for a laydown yard and trailer parking, along with a large tractor-trailer parking area and additional land for expansion. The property is zoned I-1 in Greenville County and is located just off White Horse Road, also identified as Hwy 25.
The fully fenced property provides acreage for a laydown yard and trailer parking, along with a large tractor-trailer parking area and additional land for expansion. The property is zoned I-1 in Greenville County and is located just off White Horse Road, also identified as Hwy 25.
Key Highlights
- Four 12' x 14' drive‑in doors positioned on opposite sides for drive‑through access
- Approximately ±1,500 SF of office space
- Approximately ±4,000 SF shop with supply room
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
$84,586
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
3.38%
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%
$1,691,720
$1.7M
Cap Rate 7%
$1,208,371
$1.2M
Cap Rate 9%
$939,844
$939.8K
Market Conditions
NOI Build-Up for 5,500 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
$126.7K $23.04/SF
− Vacancy
−$13.9K −$2.53/SF
EGI
$112.8K $20.51/SF
− OpEx
−$28.2K −$5.13/SF
NOI
$84.6K $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%
$1,691,720
Cap Rate 7%
$1,208,371
Cap Rate 9%
$939,844
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,586 @ 7.0% cap · market cap 3.38%
Second Best
Warehouse
$367.7K
$321.7K – $429.0K
NOI $25,737 @ 7.0% cap · market cap 1.03%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,496 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
4
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial facility combining office, shop, yard, and tractor-trailer parking areas.
Where is this flex space located?
The property is located at 1055 Park West Blvd Greenville, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four 12' x 14' drive‑in doors positioned on opposite sides for drive‑through access; Approximately ±1,500 SF of office space; Approximately ±4,000 SF shop with supply room
