Office Building with Dedicated
New
For Sale
$660,000
308 W Stone Ave, Greenville, SC 29609
A five-office layout includes a reception area and a separate break room with kitchenette.
Property Size1,380 SF
Price / SF$478.26
Days on Market4
Property Features for 308 W Stone Ave
General Information
Standard status
Active
Size
1,380 SF
Total Parking Spaces
10
Zoning
Commercial/Office
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,363
Amenities
covered front porch
signage
kitchenette
washer and dryer hookup
Building Details
Construction
bungalow
Listing Agency:
LPT Realty, LLC.
(877) 366-2213
Listed By:
Jason Quinn · License #117587
(864) 982-8294
Source:
Exprealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:33PM
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 LPT Realty, LLC.
Investment Insights
Based on property information with market context.
Configured for professional office use, this 1,380-square-foot building includes a reception area and five offices, one of which can function as a larger conference room. A separate break room has a kitchenette with counters, cabinets, and a sink, plus a washer and dryer hookup. The exterior features shaker siding and a covered front porch. Commercial/Office zoning applies.
Ten dedicated parking spaces serve the property. Existing signage faces W Stone Avenue, with downtown Greenville, Greenlink transit, and the downtown trolley nearby. The property is located at 308 W Stone Ave in Greenville, South Carolina.
Ten dedicated parking spaces serve the property. Existing signage faces W Stone Avenue, with downtown Greenville, Greenlink transit, and the downtown trolley nearby. The property is located at 308 W Stone Ave in Greenville, South Carolina.
Key Highlights
- 1,380‑square‑foot office building with reception area and five offices
- One office can be used as an oversized conference room
- Break room kitchenette includes counters, cabinets, and sink; washer and dryer hookup also provided
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
$21,223
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
3.22%
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%
$424,460
$424.5K
Cap Rate 7%
$303,186
$303.2K
Cap Rate 9%
$235,811
$235.8K
Market Conditions
NOI Build-Up for 1,380 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
$31.8K $23.04/SF
− Vacancy
−$3.5K −$2.53/SF
EGI
$28.3K $20.51/SF
− OpEx
−$7.1K −$5.13/SF
NOI
$21.2K $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%
$424,460
Cap Rate 7%
$303,186
Cap Rate 9%
$235,811
Alternative Uses
Best Use
Office B
$303.2K
$265.3K – $353.7K
NOI $21,223 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.6K
$515.9K – $687.9K
NOI $41,273 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
975
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Greenville, SC
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Frequently Asked Questions
What type of property is this?
Office building - A five-office layout includes a reception area and a separate break room with kitchenette.
Where is this office building located?
The property is located at 308 W Stone Ave Greenville, SC.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 1,380‑square‑foot office building with reception area and five offices; One office can be used as an oversized conference room; Break room kitchenette includes counters, cabinets, and sink; washer and dryer hookup also provided
