Versatile Property Near AnMed
For Sale
$925,000
1502 E Greenville St, Anderson, SC 29621
Versatile 4,300 SF property suitable for office or retail.
Property Size4,300 SF
Lot Size0.61 Acres
Price / SF$215.12
Days on Market167
Property Features for 1502 E Greenville St
General Information
Standard status
Active
Size
4,300 SF
Class
B
Lot size
0.61 Acres
Property subtype
Office
Building Details
Building Size
4,300 SF
Year Built
1976
Listing Agency:
(864) 934-5261
Listed By:
John Wright Jr., CCIM
Source:
Mccoywright
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 19 at 6:05AM
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 John Wright Jr., CCIM
Investment Insights
Based on property information with market context.
Located on E Greenville St in Anderson, SC, this versatile 4,300 SF property is situated on a 0.61 AC parcel. The property is almost equidistant between AnMed Hospital and AnMed Health Campus, both approximately 1.5 miles away. The location on a corner lot provides great ingress and egress, with access to a signalized intersection. The property could be used as an office with the existing building or redeveloped for retail. The traffic count on E. Greenville is 29,200 VPD.
Key Highlights
- High traffic count: 29,200 vehicles per day on E. Greenville St.
- Excellent accessibility with access to a signalized intersection.
- Versatile property suitable for office or retail redevelopment.
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
$70,785
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
7.65%
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%
$1,415,700
$1.4M
Cap Rate 7%
$1,011,214
$1.0M
Cap Rate 9%
$786,500
$786.5K
Market Conditions
NOI Build-Up for 4,300 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
$110.4K $25.68/SF
− Vacancy
−$16.0K −$3.73/SF
EGI
$94.4K $21.95/SF
− OpEx
−$23.6K −$5.49/SF
NOI
$70.8K $16.46/SF
Area
Anderson County, SC
Vacancy
14.53%
Lease Rate
$25.68 /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%
$1,415,700
Cap Rate 7%
$1,011,214
Cap Rate 9%
$786,500
Alternative Uses
Best Use
Office B
$1.01M
$884.8K – $1.18M
NOI $70,785 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$46.56M
$40.74M – $54.32M
NOI $3,258,981 @ 7.0% cap · market cap 352.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 29621, SC
44,601
Population
18,960
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
87.1 sq mi
ZIP Area
512
Density / Sq Mi
$71,446
Median Household Income
$41,773
Median Earnings
$1,023
Median Rent
$252,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Versatile 4,300 SF property suitable for office or retail.
Where is this office building located?
The property is located at 1502 E Greenville St Anderson, SC.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: High traffic count: 29,200 vehicles per day on E. Greenville St.; Excellent accessibility with access to a signalized intersection.; Versatile property suitable for office or retail redevelopment.
