Downtown Greenville Event Venue Investment

405 Westfield St, Greenville, SC

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For Sale

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Landmark property in Downtown Greenville, leased to experienced tenant.

Type:RETAIL

Property size:

20,000 SF

Lot size:

0.91 Acres

Price / SF:

$199/SF

HighLights

Landmark property in Downtown Greenville with an experienced tenant, offering an excellent investment opportunity.
Prime location directly on the Swamp Rabbit Trail, near the planned convention center and Unity Park.
Completely renovated building with high‑end finishes, including a new roof, HVAC, floors, and sprinkler system.
Leased and operating as an event venue, providing immediate income.
Initial lease term extends to January 2028, ensuring stable cash flow.
±20,000 SF building on ±0.851 acres, zoned MX‑D, City of Greenville.

We can help!

Listing Contact

Zach Hines

For Sale

Contact for pricing

Landmark property in Downtown Greenville, leased to experienced tenant.

Type:RETAIL

Property size:

20,000 SF

Lot size:

0.91 Acres

Price / SF:

$199/SF

Added:: Mar 14, 2025
Days on Market:: 457
Last Refresh:: May 20 at 10:03 pm

Property Features for 405 Westfield St

General Information

Standard status: Active
Size: 20,000 SF
Lot size: 0.91 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Zach Hines

Listing agent Zach Hines License #58750

Listing office Spencer/Hines Properties

Listing date Mar 14, 2025

Source Moodyscre

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 Spencer/Hines Properties

HighLights

Landmark property in Downtown Greenville with an experienced tenant, offering an excellent investment opportunity.
Prime location directly on the Swamp Rabbit Trail, near the planned convention center and Unity Park.
Completely renovated building with high‑end finishes, including a new roof, HVAC, floors, and sprinkler system.
Leased and operating as an event venue, providing immediate income.
Initial lease term extends to January 2028, ensuring stable cash flow.
±20,000 SF building on ±0.851 acres, zoned MX‑D, City of Greenville.

Overview

This approximately 20,000 square foot building is situated on an approximately 0.851-acre lot and currently operates as an event venue. The property is leased to High Spirits Hospitality, doing business as The 405. This presents an investment opportunity to acquire a landmark property in Downtown Greenville with an experienced local tenant already in place. The initial lease term is set to expire in January 2028. The building has been completely renovated with high-end finishes, large windows, high ceilings, a new roof, new HVAC system, new floors, and a new sprinkler system. The property is located directly on the Swamp Rabbit Trail, in the Central Business District, and near the planned convention center and Unity Park. It is situated between District West, a 365-unit apartment community, and Trailside, a 215-unit apartment community. The property is zoned MX-D by the City of Greenville and is identified by Tax Map #0071000100101.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$439.2k	$21.96
− Vacancy	−$15.8k	−$0.79
EGI	$423.4k	$21.17
− OpEx	−$127.0k	−$6.35
NOI	$296.4k	$14.82

20,000 SF · lease $21.96/SF/yr · vacancy 3.60% · expense 30.00%

Alternative Uses

Best Use

Retail

$4.23M

$3.70M – $4.94M (±1% cap)

NOI $296,372 @ 7.0% cap · market cap 7.42%

Second Best

—

no second resolved use

Theoretical Best

Office A

$8.55M

$7.48M – $9.97M (±1% cap)

NOI $598,166 @ 7.0% cap · market cap 14.97%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Westfield Greenville Event ... Hotel & Motel Westfield Wedding Service The 405 Venue Hotel & Motel

Suggested Use

Similar Places Nearby

M Designs — 113 Cleveland St, Greenville, SC 29601

Location Insight

Map
Local Demand

City: Greenville
County: Greenville
State: South Carolina
Longitude: -82.4061
Latitude: 34.8484

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What type of property is this?

Storefront property - Landmark property in Downtown Greenville, leased to experienced tenant.

Where is this storefront property located?

The property is located at 405 Westfield St Greenville, SC.

What is the asking price?

The asking price for this property is $3,995,000.

What are key features of this property?

This property features: Landmark property in Downtown Greenville with an experienced tenant, offering an excellent investment opportunity.; Prime location directly on the Swamp Rabbit Trail, near the planned convention center and Unity Park.; **Completely renovated building with high‑end finishes, including a new roof, HVAC, floors, and sprinkler system.**

405 Westfield St, Greenville, SC

Landmark property in Downtown Greenville, leased to experienced tenant.

Property Features for 405 Westfield St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

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Premium Office in Greenville, SC

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