Easley Office Building For
For Sale
Contact for pricing
401 E 1st Ave, Easley, SC
Office building on a 0.29-acre lot, suitable for owner-occupant.
Property Size7,163 SF
Lot Size0.26 Acres
Price / SF$76.64
Days on Market1094
Property Features for 401 E 1st Ave
General Information
Standard status
Active
Size
7,163 SF
Lot size
0.26 Acres
Property subtype
OFFICE
Listing Agency:
Wilson Kibler | Greenville
(864) 679-8600
Listed By:
Scott Snedigar · License #82732
(864) 444-4814
Source:
Moodyscre
Added: Sep 20, 2023
Changed: Sep 15
Last Checked: Sep 16 at 8:40PM
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 Wilson Kibler | Greenville
Investment Insights
Based on property information with market context.
This 7,163 square foot office building presents an excellent opportunity for an owner-occupant or can be leased out as six individual suites. Situated on a 0.29-acre lot, the building may potentially be converted into multifamily units. The property features six new electrical meters, a new roof, and a new HVAC system.
Key Highlights
- New roof and HVAC system
- Six new electrical meters
- Excellent opportunity for owner‑occupant or leased as six individual suites
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
$24,008
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
4.37%
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%
$480,160
$480.2K
Cap Rate 7%
$342,971
$343.0K
Cap Rate 9%
$266,756
$266.8K
Market Conditions
NOI Build-Up for 7,163 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
$34.4K $4.80/SF
− Vacancy
−$2.4K −$0.33/SF
EGI
$32.0K $4.47/SF
− OpEx
−$8.0K −$1.12/SF
NOI
$24.0K $3.35/SF
Area
Pickens County, SC
Vacancy
6.90%
Lease Rate
$4.80 /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%
$480,160
Cap Rate 7%
$342,971
Cap Rate 9%
$266,756
Alternative Uses
Best Use
Office B
$343.0K
$300.1K – $400.1K
NOI $24,008 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.06M
$926.7K – $1.24M
NOI $74,137 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
646
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Office building on a 0.29-acre lot, suitable for owner-occupant.
Where is this office building located?
The property is located at 401 E 1st Ave Easley, SC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: New roof and HVAC system; Six new electrical meters; Excellent opportunity for owner‑occupant or leased as six individual suites
