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    Renovated Office Building Near Downtown Title is generated by Realmo AI

    204 Mills Avenue, Greenville, SC 29605

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    Claim this Listing
    For Sale
    Under Contract
    $895,000

    SINGLE_FAMILY - Greenville, SC

    Type:Office
    Property size:
    2,457 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $364/SF
    Added:
    Mar 26, 2026
    Days on Market:
    58
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 204 Mills Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    RNX-B
    Standard status
    Active Under Contract
    APN
    0219000101500
    Size
    2,457 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Forced Air, Electric (Heating)
    Water source
    Public

    Building Details

    Flooring type
    Wood, Tile
    Building materials
    Converted Residence, Frame

    We can help!

    Listing Contact
    Sarah Gilley
    Sarah Gilley

    Listing agent Sarah Gilley

    Listing office Coldwell Banker Caine/Williams Greenville, SC

    Listing date Mar 26, 2026

    MLS# 1568916

    Copyright © 2026 Greater Greenville Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location near downtown Greenville and Augusta Road with high visibility (26,500 average daily traffic).
    • Renovated 2,457 SF office building featuring 4 private offices, conference room, full kitchen, and reception area.
    • ADA compliant main level with ramps at front and rear entrances.
    • 10‑foot exposed ceilings, large windows, and fireplace creating an open work environment.
    • Six private parking spaces on‑site.
    • Second level includes 4 private offices, copy room, and full bath.

    Overview

    This is a 2-story renovated office building located just minutes from downtown Greenville and the Augusta Road corridor, offering excellent visibility just off Mills Avenue. The building provides 2,457 square feet of space, including 4 private offices, a separate conference room, a full kitchen, 1.5 bathrooms, a reception/lobby area, and an open work area suitable for additional workspaces. The main level features 10-foot exposed ceilings, large windows, and a fireplace. The second level houses 4 private offices, a copy room, and a full bath. The main level is ADA compliant, with ADA-compliant ramps at both the front and rear entrances. The property has 60 feet of frontage on Mills Avenue, benefiting from a daily traffic volume of 26,500 cars. There are 6 private parking spaces available on-site. The property is zoned RNX-B and sits on a 0.25-acre lot. The craftsmanship of the renovation makes this building practical for any business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New American Funding ... Loan Service New American Funding Loan Service New American Funding ... Loan Service New American Funding ... Loan Service New American Funding ... Loan Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.407422
    Latitude
    34.830048

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    FAQs

    What type of property is this?
    Office building - Two-story office building with excellent visibility and renovated interiors.
    Where is this office building located?
    The property is located at 204 Mills Avenue Greenville, SC.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Prime location near downtown Greenville and Augusta Road with high visibility (26,500 average daily traffic).; Renovated 2,457 SF office building featuring 4 private offices, conference room, full kitchen, and reception area.; ADA compliant main level with ramps at front and rear entrances.
    (864) 569-1724
    We can help!
    Listing Contact
    Sarah Gilley
    Sarah Gilley
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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