Second-Generation Medical
For Sale
Contact for pricing
35 Ray E Talley Ct, Simpsonville, SC 29680
Well-maintained medical and office space in Simpsonville’s retail corridor near I-385 access.
Property Size7,880 SF
Price / SF$300.05
Days on Market104
Property Features for 35 Ray E Talley Ct
General Information
Standard status
Active
Size
7,880 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Properties For Sale
at 35 Ray E Talley Ct Contact us- Floor
- Bldg
- Size
- 7,880 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, On Available Date
- Sublease
- No
35 Ray E Talley Ct
- Well-maintained, second generation medical/ office space in Simpsonville’s busy...
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Listing Agency:
Avison Young | Greenville
(864) 334-4145
Listed By:
James McKay · License #89652
(864) 747-5627
Source:
Moodyscre
Added: May 22
Changed: Aug 9
Last Checked: Sep 2 at 4:19PM
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 Avison Young | Greenville
Investment Insights
Based on property information with market context.
This well-maintained second-generation medical and office space is designed to support both medical and general office use. The property is positioned within Simpsonville’s busy retail corridor, offering a practical setting for professional tenants.
The building is located just off Fairview Road, with convenient access to I-385. Its location and established retail-adjacent setting make it suitable for a variety of uses.
The information provided does not specify additional unit mix, improvements, or parking details.
The building is located just off Fairview Road, with convenient access to I-385. Its location and established retail-adjacent setting make it suitable for a variety of uses.
The information provided does not specify additional unit mix, improvements, or parking details.
Key Highlights
- Well‑maintained second‑generation medical/office space in Simpsonville
- Located in Simpsonville’s busy retail corridor
- Just off Fairview Road
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
$121,188
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
5.13%
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%
$2,423,760
$2.4M
Cap Rate 7%
$1,731,257
$1.7M
Cap Rate 9%
$1,346,533
$1.3M
Market Conditions
NOI Build-Up for 7,880 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
$181.6K $23.04/SF
− Vacancy
−$20.0K −$2.53/SF
EGI
$161.6K $20.51/SF
− OpEx
−$40.4K −$5.13/SF
NOI
$121.2K $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%
$2,423,760
Cap Rate 7%
$1,731,257
Cap Rate 9%
$1,346,533
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,188 @ 7.0% cap · market cap 5.13%
Second Best
Healthcare Medical
$371.2K
$324.8K – $433.1K
NOI $25,985 @ 7.0% cap · market cap 1.10%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,677 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29680, SC
34,784
Population
13,858
Households
2.5
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
29.1 sq mi
ZIP Area
1,195
Density / Sq Mi
$85,143
Median Household Income
$47,669
Median Earnings
$1,473
Median Rent
$279,200
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.
Similar Off Market Nearby
- Petco Vaccination Clinic — 353 Harrison Bridge Rd, Simpsonville, SC 29680
- Cedar Lake Animal Hospital — 682 Fairview Rd, Simpsonville, SC 29680
- My Pets Wellness - Veterinarian - Simpsonville — 655 Fairview Rd suite i, Simpsonville, SC 29680
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical and office space in Simpsonville’s retail corridor near I-385 access.
Where is this medical office space located?
The property is located at 35 Ray E Talley Ct Simpsonville, SC.
What is the asking price?
The asking price for this property is $2,364,400.
What are key features of this property?
This property features: Well‑maintained second‑generation medical/office space in Simpsonville; Located in Simpsonville’s busy retail corridor; Just off Fairview Road
