Industrial Manufacturing
For Sale
Contact for pricing
1931 Perimeter Road, Greenville, SC 29605
Manufacturing facility near Donaldson Airfield with current manufacturing occupancy and potential owner-occupancy after lease.
Property Size30,365 SF
Price / SF$128.44
Days on Market61
Property Features for 1931 Perimeter Road
General Information
Standard status
Active
Size
30,365 SF
Total Parking Spaces
36
Property subtype
Industrial
Zoning
I-1
Investment Type
Owner/User
Net Operating Income
$311,418
Building Details
Tenancy
Single
Listing Agency:
KDS Caine Commercial Real Estate
Listed By:
Pamela Jackson · License #SC141171
Source:
Crexi
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 10 at 3:08PM
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 ±30,365 SF industrial manufacturing facility is built for production, assembly, and industrial operations. The property is currently occupied by an established manufacturing user, and it is being offered with the benefit of existing operating use in place. The available information supports suitability for manufacturing and related industrial activities, including automation and engineering-driven industrial work.
Located at 1931 Perimeter Road in Greenville, the facility sits within Greenville’s aerospace and advanced manufacturing corridor near Donaldson Airfield. The surrounding context is geared toward industrial and advanced manufacturing users looking for an Upstate South Carolina location aligned with aerospace supply-chain and engineering needs.
For tenants and owner-occupiers, the property presents a practical fit for manufacturing, assembly, and industrial support operations, including aerospace suppliers and automation-focused users. For buyers, the current occupancy provides in-place performance as described in the marketing materials, with the additional consideration of potential owner-occupancy following lease expiration. Interested parties can evaluate the space for compatibility with their specific manufacturing and workflow requirements.
Located at 1931 Perimeter Road in Greenville, the facility sits within Greenville’s aerospace and advanced manufacturing corridor near Donaldson Airfield. The surrounding context is geared toward industrial and advanced manufacturing users looking for an Upstate South Carolina location aligned with aerospace supply-chain and engineering needs.
For tenants and owner-occupiers, the property presents a practical fit for manufacturing, assembly, and industrial support operations, including aerospace suppliers and automation-focused users. For buyers, the current occupancy provides in-place performance as described in the marketing materials, with the additional consideration of potential owner-occupancy following lease expiration. Interested parties can evaluate the space for compatibility with their specific manufacturing and workflow requirements.
Key Highlights
- 130,365 SF industrial manufacturing facility located in Greenville’s aerospace and advanced manufacturing corridor.
- Currently occupied by an established manufacturing user, providing immediate cash flow.
- Near Donaldson Airfield.
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
$117,015
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
3.00%
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%
$2,340,300
$2.3M
Cap Rate 7%
$1,671,643
$1.7M
Cap Rate 9%
$1,300,167
$1.3M
Market Conditions
NOI Build-Up for 30,365 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
$182.5K $6.01/SF
− Vacancy
−$15.3K −$0.50/SF
EGI
$167.2K $5.51/SF
− OpEx
−$50.1K −$1.65/SF
NOI
$117.0K $3.85/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
30.00%
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%
$2,340,300
Cap Rate 7%
$1,671,643
Cap Rate 9%
$1,300,167
Alternative Uses
Best Use
Industrial
$1.67M
$1.46M – $1.95M
NOI $117,015 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.97M
$11.35M – $15.14M
NOI $908,165 @ 7.0% cap · market cap 23.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 29605, SC
36,970
Population
17,013
Households
2.2
Avg Household Size
37
Median Age
34%
College-Educated
86%
High-School Grad
24.8 sq mi
ZIP Area
1,491
Density / Sq Mi
$63,717
Median Household Income
$39,518
Median Earnings
$1,049
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Industrial in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing facility near Donaldson Airfield with current manufacturing occupancy and potential owner-occupancy after lease.
Where is this manufacturing property located?
The property is located at 1931 Perimeter Road Greenville, SC.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 130,365 SF industrial manufacturing facility located in Greenville’s aerospace and advanced manufacturing corridor.; Currently occupied by an established manufacturing user, providing immediate cash flow.; Near Donaldson Airfield.
