Flex Industrial Building with 3-Phase
New
For Sale
Contact for pricing
201 Greer Drive, Simpsonville, SC 29681
Industrial flex facility combining warehouse and office areas with dock and drive-in loading access.
Property Size18,000 SF
Lot Size1.50 Acres
Price / SF$133.33
Days on Market5
Property Features for 201 Greer Drive
General Information
Standard status
Active
Size
18,000 SF
Lot size
1.50 Acres
Property subtype
Industrial
Zoning
I1
Warehouse & Industrial
Warehouse Space
15,000 SF
Office Build-Out
3,000 SF
Dock-High Doors
4
Drive-In Doors
3
Voltage
480 V
Three-Phase Power
Yes
Building Details
Buildings
1
Building Size
18,000 SF
Listing Agency:
Reedy Commercial
(864) 201-2221
Listed By:
Chandler Ayers · License #104450
Source:
Crexi
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 3:29AM
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.
This flex industrial facility contains approximately 18,000 SF on approximately 1.5 acres, with approximately 15,000 SF dedicated to warehouse operations and approximately 3,000 SF configured as office space. The building is equipped with 3-phase, 480V power, suspended gas heat in the warehouse, and ceiling heights measuring 15'7" at the center and 14' at the eaves. Loading capacity includes four dock doors and three drive-in doors, while restroom facilities serve both office and shop areas.
Located at 201 Greer Drive in Simpsonville, SC, the property is zoned I1. Its combination of warehouse, office, power, loading, and manufacturing-oriented improvements supports a range of industrial operating formats.
Located at 201 Greer Drive in Simpsonville, SC, the property is zoned I1. Its combination of warehouse, office, power, loading, and manufacturing-oriented improvements supports a range of industrial operating formats.
Key Highlights
- Approximately ±18,000 SF industrial building on ±1.5 acres
- Approximately ±15,000 SF warehouse space and ±3,000 SF office space
- 3‑phase, 480V power with suspended gas heat in the warehouse
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
$84,229
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
3.51%
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%
$1,684,580
$1.7M
Cap Rate 7%
$1,203,271
$1.2M
Cap Rate 9%
$935,878
$935.9K
Market Conditions
NOI Build-Up for 18,000 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
$108.2K $6.01/SF
− Vacancy
−$9.1K −$0.50/SF
EGI
$99.1K $5.51/SF
− OpEx
−$14.9K −$0.83/SF
NOI
$84.2K $4.68/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
15.00%
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%
$1,684,580
Cap Rate 7%
$1,203,271
Cap Rate 9%
$935,878
Alternative Uses
Best Use
Warehouse
$1.20M
$1.05M – $1.40M
NOI $84,229 @ 7.0% cap · market cap 3.51%
Second Best
Industrial
$990.9K
$867.1K – $1.16M
NOI $69,365 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$7.69M
$6.73M – $8.97M
NOI $538,349 @ 7.0% cap · market cap 22.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Dock-high doors
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29681, SC
63,257
Population
25,079
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
96%
High-School Grad
43.7 sq mi
ZIP Area
1,448
Density / Sq Mi
$107,694
Median Household Income
$54,834
Median Earnings
$1,615
Median Rent
$325,700
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Industrial flex facility combining warehouse and office areas with dock and drive-in loading access.
Where is this flex space located?
The property is located at 201 Greer Drive Simpsonville, SC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approximately ±18,000 SF industrial building on ±1.5 acres; Approximately ±15,000 SF warehouse space and ±3,000 SF office space; 3‑phase, 480V power with suspended gas heat in the warehouse
