Freestanding Building on High-Traffic
For Sale
Contact for pricing
303 E Stone Avenue, Greenville, SC 29609
Well-maintained 2,000 SF building on 0.3-acre site for sale.
Property Size2,000 SF
Lot Size0.30 Acres
Price / SF$450
Days on Market194
Property Features for 303 E Stone Avenue
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.30 Acres
Property subtype
Retail
Zoning
MX-2
Investment Type
Owner/User
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Trinity Partners
(864) 354-1708
Listed By:
Rakan Draz · License #SC 91192
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 6 at 7:33AM
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 Trinity Partners
Investment Insights
Based on property information with market context.
The property at 303 E. Stone Avenue is a freestanding building with approximately 2,000 square feet of space, situated on a 0.3-acre site. It is located along a highly trafficked corridor in Greenville, benefiting from approximately 30,000 vehicles per day on E. Stone Avenue. The property is positioned in the Historic North Main and East Park neighborhoods, offering proximity to Downtown Greenville and I-385. The building features Craftsman-style architecture and includes on-site parking. The property has approximately 62 feet of frontage and over 200 feet of depth. It is zoned MX-2, allowing for a variety of uses. The location is within an established residential trade area, potentially suitable for retail, office, or redevelopment. A short-term sale/leaseback may be considered.
Key Highlights
- High‑traffic location: Benefits from ±30,000 vehicles per day on E. Stone Avenue.
- Prime location: Situated in the heart of the Historic North Main and East Park neighborhoods, with immediate proximity to Downtown Greenville and I‑385.
- Flexible MX‑2 zoning: Suitable for a variety of retail, office, or redevelopment 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
$30,758
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
3.42%
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%
$615,160
$615.2K
Cap Rate 7%
$439,400
$439.4K
Cap Rate 9%
$341,756
$341.8K
Market Conditions
NOI Build-Up for 2,000 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
$46.1K $23.04/SF
− Vacancy
−$5.1K −$2.53/SF
EGI
$41.0K $20.51/SF
− OpEx
−$10.3K −$5.13/SF
NOI
$30.8K $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%
$615,160
Cap Rate 7%
$439,400
Cap Rate 9%
$341,756
Alternative Uses
Best Use
Office B
$439.4K
$384.5K – $512.6K
NOI $30,758 @ 7.0% cap · market cap 3.42%
Second Best
Retail
$423.4K
$370.5K – $494.0K
NOI $29,637 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$854.5K
$747.7K – $997.0K
NOI $59,817 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,340
Businesses Nearby
Explore this area
Business Placement
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 Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained 2,000 SF building on 0.3-acre site for sale.
Where is this office building located?
The property is located at 303 E Stone Avenue Greenville, SC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: High‑traffic location: Benefits from ±30,000 vehicles per day on E. Stone Avenue.; Prime location: Situated in the heart of the Historic North Main and East Park neighborhoods, with immediate proximity to Downtown Greenville and I‑385.; Flexible MX‑2 zoning: Suitable for a variety of retail, office, or redevelopment uses.
