Office Building with Available
For Sale
$7,950,000
110 Frederick Street, Greenville, SC 29607
Partially leased office building with substantial available space for expansion or re-tenanting at 110 Frederick St.
Property Size52,700 SF
Lot Size4.38 Acres
Price / SF$172.72
Days on Market26
Property Features for 110 Frederick Street
General Information
Standard status
Active
Size
52,700 SF
Lot size
4.38 Acres
Property subtype
Office
Occupancy
71%
Building Details
Buildings
1
Building Size
52,700 SF
Parking Ratio
7 per 1,000 SF
Listing Agency:
CBRE | Greenville
(864) 616-4676
Listed By:
Rhett Craig
(864) 616-4676
Source:
Cbre
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 22 at 8:53AM
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 CBRE | Greenville
Investment Insights
Based on property information with market context.
This offering presents a well-positioned office building totaling 52,700 square feet on a 4.38-acre site. The property is currently 71% leased to Advanced Technology Services, with a lease extending through September 2033. A key component of the opportunity is the 15,200 square feet of available space, which may support future leasing plans and potential income growth.
The property benefits from a favorable 7/1000 parking ratio, supporting tenant and visitor parking needs. The asset is located at 110 Frederick St in Greenville, SC.
For an owner seeking an office property with in-place tenancy and meaningful available space, this building provides a defined leasing roadmap with a substantial portion currently under contract through September 2033.
The property benefits from a favorable 7/1000 parking ratio, supporting tenant and visitor parking needs. The asset is located at 110 Frederick St in Greenville, SC.
For an owner seeking an office property with in-place tenancy and meaningful available space, this building provides a defined leasing roadmap with a substantial portion currently under contract through September 2033.
Key Highlights
- 52,700 SF office building on a 4.38‑acre site
- 71% leased to Advanced Technology Services
- Lease extends through September 2033
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
$707,874
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
8.90%
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%
$14,157,480
$14.2M
Cap Rate 7%
$10,112,486
$10.1M
Cap Rate 9%
$7,865,267
$7.9M
Market Conditions
NOI Build-Up for 46,028 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
$1.06M $23.04/SF
− Vacancy
−$116.7K −$2.53/SF
EGI
$943.8K $20.51/SF
− OpEx
−$236.0K −$5.13/SF
NOI
$707.9K $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%
$14,157,480
Cap Rate 7%
$10,112,486
Cap Rate 9%
$7,865,267
Alternative Uses
Best Use
Office B
$10.11M
$8.85M – $11.80M
NOI $707,874 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.67M
$17.21M – $22.94M
NOI $1,376,618 @ 7.0% cap · market cap 17.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
71%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,081
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 - Partially leased office building with substantial available space for expansion or re-tenanting at 110 Frederick St.
Where is this office building located?
The property is located at 110 Frederick Street Greenville, SC.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 52,700 SF office building on a 4.38‑acre site; 71% leased to Advanced Technology Services; Lease extends through September 2033
