Finished Office Warehouse
For Sale
$1,700,000
165 South Hammett Road, Greer, SC 29651
Well-maintained finished office building with an efficient office/warehouse mix and two drive-in doors for light loading.
Property Size9,300 SF
Lot Size2.48 Acres
Price / SF$182.80
Days on Market113
Property Features for 165 South Hammett Road
General Information
Standard status
Active
Size
9,300 SF
Class
B
Lot size
2.48 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Drive-In Doors
2
Building Details
Building Size
9,300 SF
Listed By:
Edward Wilson, CCIM, SIOR, MCR
(803) 528-3574
Source:
Trinity-partners
Added: May 15
Changed: Sep 4
Last Checked: Aug 14 at 7:39AM
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 Edward Wilson, CCIM, SIOR, MCR
Investment Insights
Based on property information with market context.
165 South Hammett Road is a finished office warehouse building in Greer, South Carolina, with an efficient layout designed for both office and light operational space. The building is approximately 90% office and 10% warehouse, and includes Class B office space totaling approximately 19,300 square feet. Two (2) drive-in doors measuring 9’ x 9” support convenient loading and operational flexibility for users needing limited storage or distribution.
The property is positioned on about 2.48 acres in Spartanburg County with direct access to major interstates including I-85, I-26, and I-385. It is also described as being near GSP International Airport and Inland Port Greer, and is located just off Highway 101.
For tenants or buyers seeking a functional office setup that also accommodates light warehouse use, this property combines a predominantly office configuration with dedicated warehouse access through the drive-in doors.
The property is positioned on about 2.48 acres in Spartanburg County with direct access to major interstates including I-85, I-26, and I-385. It is also described as being near GSP International Airport and Inland Port Greer, and is located just off Highway 101.
For tenants or buyers seeking a functional office setup that also accommodates light warehouse use, this property combines a predominantly office configuration with dedicated warehouse access through the drive-in doors.
Key Highlights
- Finished Class B office building in Greer, SC, with direct access to I‑85, I‑26, and I‑385
- Approximately 9,300 SF Class B office space with an efficient mix of 90% office and 10% warehouse
- Two 92" x 92" drive‑in doors for convenient loading and light storage/distribution
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
$143,027
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
8.41%
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%
$2,860,540
$2.9M
Cap Rate 7%
$2,043,243
$2.0M
Cap Rate 9%
$1,589,189
$1.6M
Market Conditions
NOI Build-Up for 9,300 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
$214.3K $23.04/SF
− Vacancy
−$23.6K −$2.53/SF
EGI
$190.7K $20.51/SF
− OpEx
−$47.7K −$5.13/SF
NOI
$143.0K $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%
$2,860,540
Cap Rate 7%
$2,043,243
Cap Rate 9%
$1,589,189
Alternative Uses
Best Use
Office B
$2.04M
$1.79M – $2.38M
NOI $143,027 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.97M
$3.48M – $4.64M
NOI $278,147 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 29651, SC
50,778
Population
21,738
Households
2.3
Avg Household Size
40
Median Age
34%
College-Educated
91%
High-School Grad
89.6 sq mi
ZIP Area
567
Density / Sq Mi
$80,748
Median Household Income
$47,077
Median Earnings
$1,021
Median Rent
$264,200
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?
Office building - Well-maintained finished office building with an efficient office/warehouse mix and two drive-in doors for light loading.
Where is this office building located?
The property is located at 165 South Hammett Road Greer, SC.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Finished Class B office building in Greer, SC, with direct access to I‑85, I‑26, and I‑385; Approximately 9,300 SF Class B office space with an efficient mix of 90% office and 10% warehouse; Two 92" x 92" drive‑in doors for convenient loading and light storage/distribution
