Flex Space with Warehouse
For Sale
$395,000
1201 E Cambridge Ave, Greenwood, SC 29649
Corner-lot commercial building combines finished offices, showroom space, and a fenced access area.
Property Size6,000 SF
Price / SF$65.83
Days on Market35
Property Features for 1201 E Cambridge Ave
General Information
Standard status
Active
Size
6,000 SF
Additional Details
Asking Price
$395,000
Fenced Yard
Yes
Building Details
Year Built
1958
Construction
concrete frame
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Renee Simchon
Source:
Adamtaylorteam
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 30 at 6:44PM
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 Greenwood Realty Inc.
Investment Insights
Based on property information with market context.
This flex property at 1201 E Cambridge Ave in Greenwood, SC 29649, combines finished office and showroom areas with warehouse space. The building includes five roll-up bay doors and a fenced access area, supporting movement between the interior and loading points. Concrete-frame construction with stucco and metal exterior materials provides the structural profile, while the finished areas use tile, carpet, and vinyl flooring. Interiors have been freshly painted.
Built in 1958, the property occupies a corner lot along a commercial corridor. Its configuration brings office, display, and warehouse functions together within one building, offering a range of operational layouts for an owner-user or investor.
Built in 1958, the property occupies a corner lot along a commercial corridor. Its configuration brings office, display, and warehouse functions together within one building, offering a range of operational layouts for an owner-user or investor.
Key Highlights
- Five roll‑up bay doors provide warehouse access
- Finished office and showroom areas within the same building
- Corner‑lot position at 1201 E Cambridge Ave
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
$35,343
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
8.95%
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%
$706,860
$706.9K
Cap Rate 7%
$504,900
$504.9K
Cap Rate 9%
$392,700
$392.7K
Market Conditions
NOI Build-Up for 6,000 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
$54.0K $9.00/SF
− Vacancy
−$3.5K −$0.59/SF
EGI
$50.5K $8.42/SF
− OpEx
−$15.1K −$2.52/SF
NOI
$35.3K $5.89/SF
Area
Greenwood County, SC
Vacancy
6.50%
Lease Rate
$9.00 /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%
$706,860
Cap Rate 7%
$504,900
Cap Rate 9%
$392,700
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,381 @ 7.0% cap · market cap 25.92%
Second Best
Warehouse
$613.1K
$536.5K – $715.3K
NOI $42,917 @ 7.0% cap · market cap 10.87%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,938 @ 7.0% cap · market cap 33.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot commercial building combines finished offices, showroom space, and a fenced access area.
Where is this flex space located?
The property is located at 1201 E Cambridge Ave Greenwood, SC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Five roll‑up bay doors provide warehouse access; Finished office and showroom areas within the same building; Corner‑lot position at 1201 E Cambridge Ave
