Leased Office
For Sale
$1,150,000
210 Mills Avenue, Greenville, SC 29605
Occupied by MyEyeDr under lease through March 31, 2029, with one 5-year renewal option.
Property Size3,600 SF
Price / SF$319.44
Days on Market16
Property Features for 210 Mills Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Commercial
Zoning
RNX-B
Occupancy
100%
Additional Details
Gross Income
$64,800
Taxes and HOA fees
Annual Taxes
$3,638
Building Details
Buildings
1
Building Size
3,600 SF
Tenancy
Single
Listing Agency:
Windsor Aughtry Brokerage, LLC
(864) 380-6191
Listed By:
Jay Alexander · License #88509
Source:
Kaydangerfield
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 Windsor Aughtry Brokerage, LLC
Investment Insights
Based on property information with market context.
This office building contains approximately ±3,600 SF at 210 Mills Avenue in Greenville, South Carolina. The property is currently occupied by MyEyeDr under a lease scheduled to continue through March 31, 2029, with one 5-year renewal option. Scheduled increases are included in the lease terms.
The building is positioned on Mills Avenue, with visibility and access identified as property features. RNX-B zoning applies to the site, providing a defined land-use designation for the office property.
The building is positioned on Mills Avenue, with visibility and access identified as property features. RNX-B zoning applies to the site, providing a defined land-use designation for the office property.
Key Highlights
- Approximately ±3,600 SF office building
- Current lease with MyEyeDr runs through March 31, 2029
- One 5‑year renewal option included
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
$55,365
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
4.81%
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%
$1,107,300
$1.1M
Cap Rate 7%
$790,929
$790.9K
Cap Rate 9%
$615,167
$615.2K
Market Conditions
NOI Build-Up for 3,600 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
$82.9K $23.04/SF
− Vacancy
−$9.1K −$2.53/SF
EGI
$73.8K $20.51/SF
− OpEx
−$18.5K −$5.13/SF
NOI
$55.4K $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%
$1,107,300
Cap Rate 7%
$790,929
Cap Rate 9%
$615,167
Alternative Uses
Best Use
Office B
$790.9K
$692.1K – $922.8K
NOI $55,365 @ 7.0% cap · market cap 4.81%
Second Best
Healthcare Medical
$169.6K
$148.4K – $197.9K
NOI $11,871 @ 7.0% cap · market cap 1.03%
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,670 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,018
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 Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Occupied by MyEyeDr under lease through March 31, 2029, with one 5-year renewal option.
Where is this office building located?
The property is located at 210 Mills Avenue Greenville, SC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately ±3,600 SF office building; Current lease with MyEyeDr runs through March 31, 2029; One 5‑year renewal option included
