Two-Unit Office
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For Sale
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5 Creekside Park Court, Greenville, SC 29615
Two separately configured office units offer independent building systems and on-site surface parking.
Property Size3,552 SF
Price / SF$218.19
Days on Market7
Property Features for 5 Creekside Park Court
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Office
Zoning
S-1
Additional Details
Office Units
2
Listed By:
Fallon Hogan · License #145461
Source:
Crexi
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 2:57PM
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 Fallon Hogan
Investment Insights
Based on property information with market context.
This office property comprises two separate units totaling ±3,552 square feet. Each unit has independent building systems, supporting flexible ownership and occupancy arrangements within the office asset. Surface parking is available on site.
The property is located at 5 Creekside Park Court in Greenville, South Carolina, outside Greenville city limits and within S-1 zoning. The surrounding Creekside/Patewood area includes medical, professional, and business users, providing an established office setting for the property.
The property is located at 5 Creekside Park Court in Greenville, South Carolina, outside Greenville city limits and within S-1 zoning. The surrounding Creekside/Patewood area includes medical, professional, and business users, providing an established office setting for the property.
Key Highlights
- Two separate office units totaling ±3,552 square feet
- Independent building systems for each unit
- On‑site surface parking
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
$54,627
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
7.05%
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%
$1,092,540
$1.1M
Cap Rate 7%
$780,386
$780.4K
Cap Rate 9%
$606,967
$607.0K
Market Conditions
NOI Build-Up for 3,552 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
$81.8K $23.04/SF
− Vacancy
−$9.0K −$2.53/SF
EGI
$72.8K $20.51/SF
− OpEx
−$18.2K −$5.13/SF
NOI
$54.6K $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%
$1,092,540
Cap Rate 7%
$780,386
Cap Rate 9%
$606,967
Alternative Uses
Best Use
Office B
$780.4K
$682.8K – $910.5K
NOI $54,627 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,234 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,024
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
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Market
Vacancy Rate% for Office in Greenville, SC
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Frequently Asked Questions
What type of property is this?
Office units - Two separately configured office units offer independent building systems and on-site surface parking.
Where is this office units located?
The property is located at 5 Creekside Park Court Greenville, SC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two separate office units totaling ±3,552 square feet; Independent building systems for each unit; On‑site surface parking
