Commercially Zoned Property For
For Sale
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206 Furman Hall Rd, Greenville, SC 29609
3,696 SF commercially zoned property in a growing Greenville market.
Property Size3,696 SF
Price / SF$162.34
Days on Market153
Property Features for 206 Furman Hall Rd
General Information
Standard status
Active
Size
3,696 SF
Property subtype
Retail
Listing Agency:
The Founders Group, A Division of Carolina Moves Real Estate
(864) 918-3325
Listed By:
Matt Foster · License #SC
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 10 at 1:44PM
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 The Founders Group, A Division of Carolina Moves Real Estate
Investment Insights
Based on property information with market context.
This 3,696 square foot commercially zoned property offers a versatile opportunity for businesses looking to relocate, expand, or establish a presence in a growing Greenville market. The property's flexible zoning and strategic location make it suitable for a variety of commercial uses, while also presenting potential for investors seeking a well-positioned asset.
Key Highlights
- 3,696 sf commercially zoned property
- Versatile opportunity for businesses to relocate, expand, or establish a presence
- Flexible zoning suitable for a variety of commercial uses
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
$54,770
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
9.13%
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%
$1,095,400
$1.1M
Cap Rate 7%
$782,429
$782.4K
Cap Rate 9%
$608,556
$608.6K
Market Conditions
NOI Build-Up for 3,696 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
$81.2K $21.96/SF
− Vacancy
−$2.9K −$0.79/SF
EGI
$78.2K $21.17/SF
− OpEx
−$23.5K −$6.35/SF
NOI
$54.8K $14.82/SF
Area
Greenville County, SC
Vacancy
3.60%
Lease Rate
$21.96 /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%
$1,095,400
Cap Rate 7%
$782,429
Cap Rate 9%
$608,556
Alternative Uses
Best Use
Retail
$782.4K
$684.6K – $912.8K
NOI $54,770 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,541 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
547k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 26%
Apparel 12%
Groceries 10%
Chick-fil-A
Dining
42,932 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
36,890 visits/mo
0.1 miles
Ingles
Groceries
35,420 visits/mo
0.4 miles
Ross Dress for Less
Apparel
30,475 visits/mo
0.4 miles
Burlington
Apparel
30,100 visits/mo
0.0 miles
Demographics for 29609, SC
31,547
Population
14,840
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
89%
High-School Grad
24.3 sq mi
ZIP Area
1,298
Density / Sq Mi
$64,837
Median Household Income
$42,293
Median Earnings
$1,078
Median Rent
$303,800
Median Home Value
Market
Vacancy Rate% for Retail in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3,696 SF commercially zoned property in a growing Greenville market.
Where is this retail space located?
The property is located at 206 Furman Hall Rd Greenville, SC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,696 sf commercially zoned property; Versatile opportunity for businesses to relocate, expand, or establish a presence; Flexible zoning suitable for a variety of commercial uses
