Office Building Near Signalized
For Sale
Contact for pricing
2091 Locust Hill Rd, Greer, SC 29651
Office building positioned near a lighted intersection with access from Locust Hill Road and N. Rutherford Road.
Property Size1,660 SF
Price / SF$271.08
Days on Market9
Property Features for 2091 Locust Hill Rd
General Information
Standard status
Active
Size
1,660 SF
Property subtype
OFFICE
Listing Agency:
Joyner Commercial
(864) 884-2198
Listed By:
Tim Allender · License #55025
(864) 884-2198
Source:
Moodyscre
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 7:32AM
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 Joyner Commercial
Investment Insights
Based on property information with market context.
This 1,660-square-foot office building is located at 2091 Locust Hill Rd in Greer, South Carolina. The property is positioned just off the lighted intersection of Locust Hill Road and N. Rutherford Road, providing a clearly defined location for office use.
Its placement within Greenville County provides access to a recognized commercial corridor, while the nearby signalized intersection supports straightforward connections between the two roads. The property is offered for sale.
Its placement within Greenville County provides access to a recognized commercial corridor, while the nearby signalized intersection supports straightforward connections between the two roads. The property is offered for sale.
Key Highlights
- 1,660‑square‑foot office building
- Located at 2091 Locust Hill Rd, Greer, SC 29651
- Positioned just off the lighted intersection of Locust Hill Rd and N. Rutherford Rd
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
$25,529
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
5.67%
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%
$510,580
$510.6K
Cap Rate 7%
$364,700
$364.7K
Cap Rate 9%
$283,656
$283.7K
Market Conditions
NOI Build-Up for 1,660 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
$38.2K $23.04/SF
− Vacancy
−$4.2K −$2.53/SF
EGI
$34.0K $20.51/SF
− OpEx
−$8.5K −$5.13/SF
NOI
$25.5K $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%
$510,580
Cap Rate 7%
$364,700
Cap Rate 9%
$283,656
Alternative Uses
Best Use
Office B
$364.7K
$319.1K – $425.5K
NOI $25,529 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.3K
$620.6K – $827.5K
NOI $49,648 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
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 - Office building positioned near a lighted intersection with access from Locust Hill Road and N. Rutherford Road.
Where is this office building located?
The property is located at 2091 Locust Hill Rd Greer, SC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,660‑square‑foot office building; Located at 2091 Locust Hill Rd, Greer, SC 29651; Positioned just off the lighted intersection of Locust Hill Rd and N. Rutherford Rd
