Office Building with Private
For Sale
$975,000
4200 E North St, Greenville, SC 29615
Office building with private parking in both front and rear areas, totaling approximately 25+ spaces.
Property Size3,300 SF
Days on Market148
Property Features for 4200 E North St
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
25
Property subtype
Office - Medical Office
Zoning
POD
Building Details
Building Size
3,300 SF
Listing Agency:
Spencer/Hines Properties
Listed By:
Brian Graybill
Source:
Commercialcafe
Added: Apr 10
Changed: Sep 3
Last Checked: Sep 4 at 2:46AM
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
Investment Insights
Based on property information with market context.
The property is an office building offered for sale with private parking in both the front and rear of the building, providing approximately 25+ parking spaces. It also includes a POD portion of tax map 0541.02-01-016.00.
Located at 4200 East North Street in Greenville, SC, the building sits across from Mitchell Road Elementary School. The property is described as zoned Greenville County.
The site configuration supports straightforward vehicle access with dedicated front and rear parking areas for day-to-day office use.
Located at 4200 East North Street in Greenville, SC, the building sits across from Mitchell Road Elementary School. The property is described as zoned Greenville County.
The site configuration supports straightforward vehicle access with dedicated front and rear parking areas for day-to-day office use.
Key Highlights
- Private parking in front and rear of building, totaling approximately 25+ spaces
- Office building with private parking access on both front and rear areas
- Located across from Mitchell Road Elementary School
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
$50,751
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
5.21%
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%
$1,015,020
$1.0M
Cap Rate 7%
$725,014
$725.0K
Cap Rate 9%
$563,900
$563.9K
Market Conditions
NOI Build-Up for 3,300 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
$76.0K $23.04/SF
− Vacancy
−$8.4K −$2.53/SF
EGI
$67.7K $20.51/SF
− OpEx
−$16.9K −$5.13/SF
NOI
$50.8K $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%
$1,015,020
Cap Rate 7%
$725,014
Cap Rate 9%
$563,900
Alternative Uses
Best Use
Office B
$725.0K
$634.4K – $845.9K
NOI $50,751 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,697 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 29615, SC
38,684
Population
19,687
Households
2
Avg Household Size
40
Median Age
52%
College-Educated
96%
High-School Grad
19.2 sq mi
ZIP Area
2,015
Density / Sq Mi
$74,200
Median Household Income
$44,960
Median Earnings
$1,203
Median Rent
$348,600
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 - Office building with private parking in both front and rear areas, totaling approximately 25+ spaces.
Where is this office building located?
The property is located at 4200 E North St Greenville, SC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Private parking in front and rear of building, totaling approximately 25+ spaces; Office building with private parking access on both front and rear areas; Located across from Mitchell Road Elementary School
