Modern Open-Plan Office
For Sale
Contact for pricing
123 W Antrim Dr, Greenville, SC 29607
MX-2-zoned office property with flexible private and shared work areas.
Property Size3,500 SF
Lot Size0.28 Acres
Price / SF$275
Days on Market185
Property Features for 123 W Antrim Dr
General Information
Standard status
Active
Size
3,500 SF
Class
B
Lot size
0.28 Acres
Property subtype
Office
Zoning
MX-2
Lease Type
Modified Gross
Building Details
Year Built
1980
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
KDS Caine Commercial Real Estate
Listed By:
Brad Doyle · License #SC 70947
Source:
Crexi
Added: Feb 26
Changed: Aug 29
Last Checked: Aug 29 at 8:47PM
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 KDS Caine Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,500-square-foot office building, constructed in 1980, combines private offices with open work areas in a contemporary layout. The interior can be divided into two approximately 1,750-square-foot suites, providing flexibility for users seeking separate office configurations. The property occupies approximately 0.28 acre and includes on-site parking, multiple access points, and an employee parking area behind the building.
Located within Greenville city limits, the property is approximately 2 miles from the Central Business District and sits in the Laurens Road corridor. MX-2 zoning supports its current office use. An adjacent building at 127 W Antrim Drive is also available, with potential shared use of the neighboring green space.
Located within Greenville city limits, the property is approximately 2 miles from the Central Business District and sits in the Laurens Road corridor. MX-2 zoning supports its current office use. An adjacent building at 127 W Antrim Drive is also available, with potential shared use of the neighboring green space.
Key Highlights
- Approximately 3,500 SF office building on 0.28 acre
- Flexible layout with private offices and open work areas
- Can be divided into two approximately 1,750 SF units
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
$53,827
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
5.59%
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%
$1,076,540
$1.1M
Cap Rate 7%
$768,957
$769.0K
Cap Rate 9%
$598,078
$598.1K
Market Conditions
NOI Build-Up for 3,500 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
$80.6K $23.04/SF
− Vacancy
−$8.9K −$2.53/SF
EGI
$71.8K $20.51/SF
− OpEx
−$17.9K −$5.13/SF
NOI
$53.8K $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%
$1,076,540
Cap Rate 7%
$768,957
Cap Rate 9%
$598,078
Alternative Uses
Best Use
Office B
$769.0K
$672.8K – $897.1K
NOI $53,827 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,679 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
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 Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - MX-2-zoned office property with flexible private and shared work areas.
Where is this office building located?
The property is located at 123 W Antrim Dr Greenville, SC.
What is the asking price?
The asking price for this property is $962,500.
What are key features of this property?
This property features: Approximately 3,500 SF office building on 0.28 acre; Flexible layout with private offices and open work areas; Can be divided into two approximately 1,750 SF units
