Renovated Multi-Tenant Office
For Sale
Contact for pricing
506 Pettigru St, Greenville, SC 29601
Renovated office building near downtown Greenville with ample parking.
Property Size3,696 SF
Lot Size0.24 Acres
Price / SF$405.84
Days on Market826
Property Features for 506 Pettigru St
General Information
Standard status
Active
Size
3,696 SF
Class
B
Lot size
0.24 Acres
Property subtype
Office
Zoning
RNX-B
Occupancy
66%
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1950
Year Renovated
2018
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Cardinal Commercial Properties, LLC
Listed By:
Robert Brissie · License #SC 126566
(864) 233-7724
Source:
Crexi
Added: Jul 16, 2024
Changed: Oct 15
Last Checked: Oct 19 at 4:06AM
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 Cardinal Commercial Properties, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a renovated multi-tenant office building located at 506 Pettigru St. in Greenville, SC. The building has an area of approximately 3,696 square feet and is situated on a 0.244 acre lot. One office suite is available for lease on the first floor, offering approximately 790 square feet, including 3 offices and a private restroom. The location provides proximity to downtown Greenville, I-385, and Laurens Rd. Ample on-site parking is available.
Key Highlights
- Renovated multi‑tenant office building
- Excellent location near downtown Greenville, I‑385, and Laurens Rd.
- One 790+\/-sf office suite available featuring 3 offices and a private restroom.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,842
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,136,840
$1.1M
Cap Rate 7%
$812,029
$812.0K
Cap Rate 9%
$631,578
$631.6K
Market Conditions
NOI Build-Up for 3,696 SF
Gross rent
$85.2K $23.04/SF
− Vacancy
−$9.4K −$2.53/SF
EGI
$75.8K $20.51/SF
− OpEx
−$18.9K −$5.13/SF
NOI
$56.8K $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 Rate 5%
$1,136,840
Cap Rate 7%
$812,029
Cap Rate 9%
$631,578
Alternative Uses
Best Use
Office B
$812.0K
$710.5K – $947.4K
NOI $56,842 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,541 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Greenville, SC
Frequently Asked Questions
What type of property is this?
Office building - Renovated office building near downtown Greenville with ample parking.
Where is this office building located?
The property is located at 506 Pettigru St Greenville, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Renovated multi‑tenant office building; Excellent location near downtown Greenville, I‑385, and Laurens Rd.; One 790+\/-sf office suite available featuring 3 offices and a private restroom.
