Historic Creative
For Sale
$1,750,000
300 South St, Simpsonville, SC 29681
Flexible commercial layout with open work areas, private rooms, offices, restrooms, a breakroom, and an outdoor patio.
Property Size334,000 SF
Price / SF$216.53
Days on Market68
Property Features for 300 South St
General Information
Standard status
Active
Size
334,000 SF
Class
A
Property subtype
Office
Building Details
Building Size
334,000 SF
Listing Agency:
Reedy Commercial
(864) 380-4917
Listed By:
Lindsey Twining · License #91386
Source:
Reedycommercial
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 3:48PM
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 creative-space property at Cotton Mill Place occupies approximately 8,082 SF within a restored early 20th-century textile mill. The first floor contains approximately 7,068 SF arranged for flexible use, with a reception area, three enclosed rooms, a broad open workspace, and two restrooms. A mezzanine of approximately 1,014 SF adds three private offices and a breakroom, creating a mix of shared and dedicated areas. An outdoor patio provides additional usable space for gatherings or work-related activities.
The property is part of Cotton Mill Place, a mixed-use facility combining historic mill architecture with modern amenities. Its configuration supports creative office, studio, and professional-services uses while retaining distinct architectural character and a practical range of work, meeting, and support spaces.
The property is part of Cotton Mill Place, a mixed-use facility combining historic mill architecture with modern amenities. Its configuration supports creative office, studio, and professional-services uses while retaining distinct architectural character and a practical range of work, meeting, and support spaces.
Key Highlights
- ±8,082 SF total property
- ±7,068 SF first‑floor open‑concept layout
- ±1,014 SF mezzanine with three private offices and a breakroom
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
$124,295
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
7.10%
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%
$2,485,900
$2.5M
Cap Rate 7%
$1,775,643
$1.8M
Cap Rate 9%
$1,381,056
$1.4M
Market Conditions
NOI Build-Up for 8,082 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
$186.2K $23.04/SF
− Vacancy
−$20.5K −$2.53/SF
EGI
$165.7K $20.51/SF
− OpEx
−$41.4K −$5.13/SF
NOI
$124.3K $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%
$2,485,900
Cap Rate 7%
$1,775,643
Cap Rate 9%
$1,381,056
Alternative Uses
Best Use
Office B
$1.78M
$1.55M – $2.07M
NOI $124,295 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,719 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
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 Office 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?
Creative space - Flexible commercial layout with open work areas, private rooms, offices, restrooms, a breakroom, and an outdoor patio.
Where is this creative space located?
The property is located at 300 South St Simpsonville, SC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: ±8,082 SF total property; ±7,068 SF first‑floor open‑concept layout; ±1,014 SF mezzanine with three private offices and a breakroom
