Top-Floor Condo Near Bon Secours
For Sale
$336,500
801 E North St Apt 9, Greenville, SC 29601
1,000 SF Top-Floor Condo Living Near Bon Secours Wellness Arena
Property Size1,000 SF
Lot Size0.02 Acres
Price / SF$336.50
Days on Market587
Property Features for 801 E North St Apt 9
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
1,000 SF
Elevators
N/A
Lot size
0.02 Acres
Building Details
Buildings
1
Stories
3
Listing Agency:
(864) 404-7677
Listed By:
David
(864) 404-7677
Added: Jan 21, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 1,000 square foot top-floor condo is located in Greenville, South Carolina, near the Bon Secours Wellness Arena. The unit features a fully renovated kitchen with new countertops, sleek appliances, and updated flooring. A reimagined cut-through enhances the flow between the kitchen and living areas, maximizing natural light. The updated bathroom includes a new tub and modern lighting. Modern upgrades include a smart thermostat and smart fire detectors with CO2 detection. The condo includes a private outdoor living space. The property is situated near the planned East North Street Gateway Project, promising enhanced walkability and accessibility to Downtown Greenville. The lot size is approximately 0.02 acres.
Key Highlights
- Outdoor living space
- Maintenance free living
- The City is working to improve the walkability in the area
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
$10,161
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
3.02%
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%
$203,220
$203.2K
Cap Rate 7%
$145,157
$145.2K
Cap Rate 9%
$112,900
$112.9K
Market Conditions
NOI Build-Up for 1,000 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
$15.4K $15.36/SF
− Vacancy
−$845 −$0.84/SF
EGI
$14.5K $14.52/SF
− OpEx
−$4.4K −$4.35/SF
NOI
$10.2K $10.16/SF
Area
Greenville County, SC
Vacancy
5.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$203,220
Cap Rate 7%
$145,157
Cap Rate 9%
$112,900
Alternative Uses
Best Use
Multifamily LT 5
$145.2K
$127.0K – $169.4K
NOI $10,161 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$129.9K
$113.7K – $151.5K
NOI $9,092 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$427.3K
$373.9K – $498.5K
NOI $29,908 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 29601, SC
13,261
Population
8,067
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
3,157
Density / Sq Mi
$73,321
Median Household Income
$55,727
Median Earnings
$1,406
Median Rent
$583,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - 1,000 SF Top-Floor Condo Living Near Bon Secours Wellness Arena
Where is this multifamily property located?
The property is located at 801 E North St Apt 9 Greenville, SC.
What is the asking price?
The asking price for this property is $336,500.
What are key features of this property?
This property features: Outdoor living space; Maintenance free living; The City is working to improve the walkability in the area
