Single-Story Office Flex
For Sale
Contact for pricing
127 Tanner Rd, Greenville, SC 29607
Single-story office/flex building with climate-controlled warehouse and covered loading dock.
Property Size31,835 SF
Lot Size3.29 Acres
Price / SF$188.47
Days on Market368
Property Features for 127 Tanner Rd
General Information
Standard status
Active
Size
31,835 SF
Total Parking Spaces
109
Lot size
3.29 Acres
Property subtype
OFFICE
Zoning
S-1
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
2
Amenities
multiple large conference rooms
Building Details
Stories
1
Listing Agency:
Reedy Commercial
(864) 568-5102
Listed By:
Chandler Ayers · License #104450
(864) 201-2221
Source:
Moodyscre
Added: Sep 11, 2025
Changed: Aug 14
Last Checked: Sep 12 at 10:21AM
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.
Single-story office/flex building totaling 31,835 SF, including 21,647 SF of office and 7,164 SF of warehouse space. The office portion features 48+ private offices, two large bullpen areas, and multiple conference rooms. Warehouse operations include climate-controlled space and a covered loading dock with two dock spaces plus two drive-in doors. A detached shop building of 3,024 SF rounds out the improvements.
The property sits on 3.29 acres at 127 Tanner Rd in Greenville, SC, with ample on-site parking (109 spaces).
Zoned S-1, the site is configured to support a combination of office and light industrial/warehouse use within a single, efficient footprint.
The property sits on 3.29 acres at 127 Tanner Rd in Greenville, SC, with ample on-site parking (109 spaces).
Zoned S-1, the site is configured to support a combination of office and light industrial/warehouse use within a single, efficient footprint.
Key Highlights
- Single‑story office/flex building totaling 31,835 SF on 3.29 acres
- Includes 21,647 SF office space with 48+ private offices and 2 large bullpen areas
- Multiple large conference rooms plus 7,164 SF warehouse space with climate‑controlled interior
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
$489,597
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
8.16%
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%
$9,791,940
$9.8M
Cap Rate 7%
$6,994,243
$7.0M
Cap Rate 9%
$5,439,967
$5.4M
Market Conditions
NOI Build-Up for 31,835 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
$733.5K $23.04/SF
− Vacancy
−$80.7K −$2.53/SF
EGI
$652.8K $20.51/SF
− OpEx
−$163.2K −$5.13/SF
NOI
$489.6K $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%
$9,791,940
Cap Rate 7%
$6,994,243
Cap Rate 9%
$5,439,967
Alternative Uses
Best Use
Office B
$6.99M
$6.12M – $8.16M
NOI $489,597 @ 7.0% cap · market cap 8.16%
Second Best
Warehouse
$2.13M
$1.86M – $2.48M
NOI $148,968 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$13.60M
$11.90M – $15.87M
NOI $952,130 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,061
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Greenville, SC
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story office/flex building with climate-controlled warehouse and covered loading dock.
Where is this flex space located?
The property is located at 127 Tanner Rd Greenville, SC.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Single‑story office/flex building totaling 31,835 SF on 3.29 acres; Includes 21,647 SF office space with 48+ private offices and 2 large bullpen areas; Multiple large conference rooms plus 7,164 SF warehouse space with climate‑controlled interior
