Industrial Building For
For Sale
$6,250,000
5159 Pelham Rd, Greenville, SC 29615
53,333 SF industrial building in Greenville, SC for sale.
Property Size53,333 SF
Price / SF$117.19
Days on Market157
Property Features for 5159 Pelham Rd
General Information
Standard status
Active
Size
53,333 SF
Property subtype
Industrial
Building Details
Building Size
53,333 SF
Year Built
1980
Listing Agency:
Lee & Associates - Greenville
(864) 444-1196
Listed By:
Kevin Bentley, SIOR · License #SC #37618
(864) 444-1196
Source:
Lee-associates
Added: Mar 27
Changed: Aug 26
Last Checked: Aug 29 at 7:45AM
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 Lee & Associates - Greenville
Investment Insights
Based on property information with market context.
This is a 53,333 square foot industrial building for sale. It is located at 5159 Pelham Rd in Greenville, SC, in a prime Greenville County location, approximately 10.5 miles from I-85.
Key Highlights
- Prime Greenville County location
- ±53,333 SF Industrial Building
- Located ±0.5 miles from I‑85
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
$205,525
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
3.29%
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%
$4,110,500
$4.1M
Cap Rate 7%
$2,936,071
$2.9M
Cap Rate 9%
$2,283,611
$2.3M
Market Conditions
NOI Build-Up for 53,333 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
$320.5K $6.01/SF
− Vacancy
−$26.9K −$0.50/SF
EGI
$293.6K $5.51/SF
− OpEx
−$88.1K −$1.65/SF
NOI
$205.5K $3.85/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
30.00%
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%
$4,110,500
Cap Rate 7%
$2,936,071
Cap Rate 9%
$2,283,611
Alternative Uses
Best Use
Industrial
$2.94M
$2.57M – $3.43M
NOI $205,525 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.79M
$19.94M – $26.58M
NOI $1,595,098 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
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 Industrial in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 53,333 SF industrial building in Greenville, SC for sale.
Where is this industrial property located?
The property is located at 5159 Pelham Rd Greenville, SC.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Prime Greenville County location; ±53,333 SF Industrial Building; Located ±0.5 miles from I‑85
