Two-Building Industrial Facility with Multiple
For Sale
$3,480,000
12 & 20 Crigler Street, Greenville, SC 29607
Two buildings totaling 47,055 SF offer office and warehouse space with dock-high and drive-in doors for flexible operations.
Property Size47,055 SF
Lot Size2.16 Acres
Price / SF$73.96
Days on Market59
Property Features for 12 & 20 Crigler Street
General Information
Standard status
Active
Size
47,055 SF
Lot size
2.16 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
33 ft
Dock-High Doors
2
Drive-In Doors
9
Additional Details
Highway Access
Yes
Building Details
Building Size
47,055 SF
Listing Agency:
Reedy Commercial
(803) 205-3260
Listed By:
Gabe Grammer
Source:
Reedycommercial
Added: Jun 24
Changed: Aug 14
Last Checked: Aug 21 at 4:46AM
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 Reedy Commercial
Investment Insights
Based on property information with market context.
This two-building industrial facility comprises 12 Crigler and 20 Crigler, totaling 47,055 square feet on 2.16 acres. The property includes 1,600 square feet of office space paired with 45,455 square feet of warehouse area, supporting both administrative needs and day-to-day operations. Clear heights range from 12.5 feet to 33 feet, with an average of 21 feet, providing capacity for a variety of warehouse and light distribution uses.
Operational flow is supported by two dock-high doors and nine drive-in doors, giving teams options for receiving, loading, and internal movement based on how they run their logistics. The facility is positioned just minutes from Interstate 85 and Interstate 385, and it is directly adjacent to the Greenville Downtown Airport, supporting regional access and transportation connectivity.
With a practical office/warehouse configuration, varied clear heights, and a total of eleven loading doors, the property can serve a wide range of industrial service, distribution, and warehousing requirements. The two-building layout also offers flexibility for businesses looking to separate functions within one ownership footprint.
Operational flow is supported by two dock-high doors and nine drive-in doors, giving teams options for receiving, loading, and internal movement based on how they run their logistics. The facility is positioned just minutes from Interstate 85 and Interstate 385, and it is directly adjacent to the Greenville Downtown Airport, supporting regional access and transportation connectivity.
With a practical office/warehouse configuration, varied clear heights, and a total of eleven loading doors, the property can serve a wide range of industrial service, distribution, and warehousing requirements. The two-building layout also offers flexibility for businesses looking to separate functions within one ownership footprint.
Key Highlights
- Two‑building industrial property at 12 Crigler and 20 Crigler totaling 47,055 SF on 2.16 acres
- Office/warehouse layout includes 1,600 SF office space and 45,455 SF warehouse area
- Clear heights range from 12.5 ft to 33 ft (21 ft average) for adaptable storage and operations
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
$220,189
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
6.33%
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%
$4,403,780
$4.4M
Cap Rate 7%
$3,145,557
$3.1M
Cap Rate 9%
$2,446,544
$2.4M
Market Conditions
NOI Build-Up for 47,055 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
$282.8K $6.01/SF
− Vacancy
−$23.8K −$0.50/SF
EGI
$259.0K $5.51/SF
− OpEx
−$38.9K −$0.83/SF
NOI
$220.2K $4.68/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
15.00%
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%
$4,403,780
Cap Rate 7%
$3,145,557
Cap Rate 9%
$2,446,544
Alternative Uses
Best Use
Warehouse
$3.15M
$2.75M – $3.67M
NOI $220,189 @ 7.0% cap · market cap 6.33%
Second Best
Industrial
$2.59M
$2.27M – $3.02M
NOI $181,332 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$20.10M
$17.59M – $23.46M
NOI $1,407,334 @ 7.0% cap · market cap 40.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
33 ft
Clear height
2
Dock-high doors
9
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,025
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29607, SC
44,216
Population
22,288
Households
2
Avg Household Size
35
Median Age
50%
College-Educated
94%
High-School Grad
29.0 sq mi
ZIP Area
1,525
Density / Sq Mi
$69,249
Median Household Income
$46,549
Median Earnings
$1,339
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Industrial in Greenville, SC
Questions? Ask Rey
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Similar Off Market Nearby
- Southern Way Catering — 301 Haywood Rd, Greenville, SC 29607
Frequently Asked Questions
What type of property is this?
Flex space - Two buildings totaling 47,055 SF offer office and warehouse space with dock-high and drive-in doors for flexible operations.
Where is this flex space located?
The property is located at 12 & 20 Crigler Street Greenville, SC.
What is the asking price?
The asking price for this property is $3,480,000.
What are key features of this property?
This property features: Two‑building industrial property at 12 Crigler and 20 Crigler totaling 47,055 SF on 2.16 acres; Office/warehouse layout includes 1,600 SF office space and 45,455 SF warehouse area; Clear heights range from 12.5 ft to 33 ft (21 ft average) for adaptable storage and operations
