Freestanding Office
For Sale
$562,500
414b Pettigru Street, Greenville, SC 29601
Functional office accommodation with parking for tenants and visitors.
Property Size2,500 SF
Price / SF$225
Days on Market194
Property Features for 414b Pettigru Street
General Information
Standard status
Active
Size
2,500 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
2,500 SF
Year Built
1991
Buildings
1
Listing Agency:
SVN | Blackstream
(864) 905-0448
Listed By:
Rodrigo Suarez
(864) 905-0448
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:39PM
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 | Blackstream
Investment Insights
Based on property information with market context.
This 2,500-square-foot office building was constructed in 1991 and provides a versatile interior layout for commercial operations. The property is described as well maintained, with functional office spaces, attractive curb appeal, and parking available for tenants and visitors.
The building is located at 414b Pettigru Street in Greenville, South Carolina, within the Downtown Greenville area. Nearby amenities include Falls Park on the Reedy, Main Street dining, retail and entertainment, and the Peace Center. The surrounding area also provides access to major roadways and urban amenities.
The building is located at 414b Pettigru Street in Greenville, South Carolina, within the Downtown Greenville area. Nearby amenities include Falls Park on the Reedy, Main Street dining, retail and entertainment, and the Peace Center. The surrounding area also provides access to major roadways and urban amenities.
Key Highlights
- 2,500 SF office building
- Constructed in 1991
- Versatile, functional interior layout
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
$38,448
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
6.84%
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%
$768,960
$769.0K
Cap Rate 7%
$549,257
$549.3K
Cap Rate 9%
$427,200
$427.2K
Market Conditions
NOI Build-Up for 2,500 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
$57.6K $23.04/SF
− Vacancy
−$6.3K −$2.53/SF
EGI
$51.3K $20.51/SF
− OpEx
−$12.8K −$5.13/SF
NOI
$38.4K $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%
$768,960
Cap Rate 7%
$549,257
Cap Rate 9%
$427,200
Alternative Uses
Best Use
Office B
$549.3K
$480.6K – $640.8K
NOI $38,448 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$934.6K – $1.25M
NOI $74,771 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 29601, SC
13,261
Population
8,067
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
3,157
Density / Sq Mi
$73,321
Median Household Income
$55,727
Median Earnings
$1,406
Median Rent
$583,200
Median Home Value
Market
Vacancy Rate% for Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Functional office accommodation with parking for tenants and visitors.
Where is this office building located?
The property is located at 414b Pettigru Street Greenville, SC.
What is the asking price?
The asking price for this property is $562,500.
What are key features of this property?
This property features: 2,500 SF office building; Constructed in 1991; Versatile, functional interior layout
