Office Building For
For Sale
Contact for pricing
426 Fairforest Way, Greenville, SC
Office building with lease income available for sale.
Property Size34,284 SF
Lot Size2.81 Acres
Price / SF$198.03
Days on Market334
Property Features for 426 Fairforest Way
General Information
Standard status
Active
Size
34,284 SF
Lot size
2.81 Acres
Property subtype
OFFICE
Listing Agency:
Trinity Partners | Greenville
(864) 421-4747
Listed By:
Lakin Parr · License #SC90007
Source:
Moodyscre
Added: Sep 10, 2025
Changed: Jul 6
Last Checked: Aug 9 at 11:36AM
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 Trinity Partners | Greenville
Investment Insights
Based on property information with market context.
This office building offers 34,284 square feet of space. The annual lease rate is $374,510.88, with a net rent per square foot of $10.92. The property is available for sale separately or as a combined sale.
Key Highlights
- Available for sale separately
- Combined sale price with 215 stoneridege dr.: $6,789,142
- Annual lease rate: $374,510.88
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
$527,260
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
7.77%
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%
$10,545,200
$10.5M
Cap Rate 7%
$7,532,286
$7.5M
Cap Rate 9%
$5,858,444
$5.9M
Market Conditions
NOI Build-Up for 34,284 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
$789.9K $23.04/SF
− Vacancy
−$86.9K −$2.53/SF
EGI
$703.0K $20.51/SF
− OpEx
−$175.8K −$5.13/SF
NOI
$527.3K $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%
$10,545,200
Cap Rate 7%
$7,532,286
Cap Rate 9%
$5,858,444
Alternative Uses
Best Use
Office B
$7.53M
$6.59M – $8.79M
NOI $527,260 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.65M
$12.82M – $17.09M
NOI $1,025,376 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Greenville, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building with lease income available for sale.
Where is this office building located?
The property is located at 426 Fairforest Way Greenville, SC.
What is the asking price?
The asking price for this property is $6,789,142.
What are key features of this property?
This property features: Available for sale separately; Combined sale price with 215 stoneridege dr.: $6,789,142; Annual lease rate: $374,510.88
