Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Augusta Road Title is generated by Realmo AI

    409 Mills Ave, Greenville, SC 29605

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail strip center in Greenville's Augusta Road neighborhood.

    Type:Retail
    Property size:
    1,262 SF
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 6 at 12:18 am

    Property Features for 409 Mills Ave

    General Information

    Standard status
    Active
    Size
    1,262 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2005

    Spaces For Lease

    at 409 Mills Ave Contact us

    We can help!

    Listing Contact
    Dustin Tenney
    Dustin Tenney

    Listing agent Dustin Tenney License #SC #106880

    Listing office SVN Palmetto

    Listing date Mar 5, 2026

    Source Svn

    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 SVN Palmetto

    HighLights

    • High visibility location on Mills Avenue (±23,100 VPD).
    • Located in the Augusta Road neighborhood.
    • Proximity to Greenville Memorial Hospital (±900 beds) and class A multi‑family residences.
    • Two suites available (±1,262 SF & ±1,027 SF).
    • One suite is a second generation restaurant (former Subway).
    • ±53 surface parking spaces on site.

    Overview

    Located in the Augusta Road neighborhood at 409 Mills Avenue in Greenville, this retail strip center offers leasing opportunities. The property is situated across the street from a Class A multi-family development and near Greenville Memorial Hospital, which has approximately 900 beds. This location benefits from a high volume of daytime employees and residential density. Two suites are available, measuring approximately 1,262 SF and 1,027 SF, with one being an end cap unit that provides maximum visibility. One of the suites is a second-generation restaurant space, previously occupied by Subway. The center benefits from high demographics and significant visibility on Mills Avenue, which sees approximately 23,100 vehicles per day. The property includes approximately 53 surface parking spaces on site.
    Location Intelligence

    Current Use by Public Records

    Carl Evans Insurance ... Insurance Agency HealthMarkets Insurance - Kelly ... Insurance Agency HealthMarkets Insurance - Monica ... Insurance Agency J&D Gallery Art Gallery J&D Albums Wedding Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.4097
    Latitude
    34.8267

    Nearby Similar for Lease

    • Sponsored
      $129-$6,596/Mo
      11-1,292 SF

      SC, Greenville - E Stone Avenue

      17 1St St, Unit 2ND, Greenville, SC 29609
      View Details
    • $129-$5,274/Mo
      11-1,292 SF

      Millport at Butler

      128 Millport Cir, Unit 200, Greenville, SC 29607
      View Details
    • $129-$6,037/Mo
      11-1,292 SF

      NOMA Tower

      220 Main St, Unit 500, Greenville, SC 29601
      View Details
    • $23 SF/Yr
      5,000 SF

      Prime Midtown Retail Leasing Opportunity

      Newly renovated retail space in prime Greenville location.
      1411 Laurens Rd, Greenville, SC 29607
      View Details
    • $19 SF/Yr
      1,422 SF

      Premier Greenville Office Complex

      Variety of office spaces with extensive upgrades and easy access.
      37 Villa Rd, Greenville, South Carolina 29615
      View Details
    • $12 SF/Yr
      5,048 SF

      Office Warehouse Space For Lease

      Office warehouse space for lease in Greenville, SC.
      180 Commerce Center, Greenville, SC 29615
      View Details
    • $30 SF/Yr
      3,370 SF

      Downtown Greenville Retail Space Available

      Retail space for lease in downtown Greenville, South Carolina.
      942 S Main Street, Greenville, SC 29601
      View Details
    • $45 SF/Yr
      5,024 SF

      Class A Office Space

      Premier office space in Greenville's award-winning downtown.
      110 East Court Street, Greenville, SC, 29601
      View Details
    • $20 SF/Yr
      2,035 SF

      Textile Mill Lofts in Greenville

      Live, work, and play spaces with industrial architecture.
      201 Smythe Street, Greenville, South Carolina 29611
      View Details
    • $20 SF/Yr
      20,000 SF

      Loft Retail and Office Space

      Retail and office spaces in historic Woodside Mill district.
      1 E Main Street, Greenville, South Carolina 29611
      View Details
    • $850/Mo
      4,667 SF

      West Greenville Studio Space Available

      Creative studios and workspaces in dynamic West Greenville neighborhood.
      31 Burdette St, Greenville, SC 29611
      View Details
    • $425/Mo
      5,800 SF

      Creative Studio Space in Greenville

      Stand-alone creative studio in Greenville's Arts District for rent.
      46 Lois Ave, Greenville, SC 29611
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail strip center in Greenville's Augusta Road neighborhood.
    Where is this strip mall located?
    The property is located at 409 Mills Ave Greenville, SC.
    What are key features of this property?
    This property features: High visibility location on Mills Avenue (±23,100 VPD).; Located in the Augusta Road neighborhood.; Proximity to Greenville Memorial Hospital (±900 beds) and class A multi‑family residences.
    (864) 905-7226
    We can help!
    Listing Contact
    Dustin Tenney
    Dustin Tenney
    Real Estate License ID: SC #106880
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    409 Mills Ave, Greenville, SC 29605
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!