Laurens Road Commercial
For Sale
Contact for pricing
517 & 605 Laurens Rd, Greenville, SC 29607
Two neighboring commercial properties on Laurens Road for sale.
Property Size8,118 SF
Price / SF$307.96
Days on Market173
Property Features for 517 & 605 Laurens Rd
General Information
Standard status
Active
Size
8,118 SF
Property subtype
Retail
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
The Founders Group, A Division of Carolina Moves Real Estate
(864) 918-3325
Listed By:
Matt Foster · License #SC
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 31 at 12:40AM
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 The Founders Group, A Division of Carolina Moves Real Estate
Investment Insights
Based on property information with market context.
These two neighboring commercial properties offer flexibility for investors or businesses looking to secure a presence along Laurens Road. The properties offer strong positioning within a highly traveled corridor and may be evaluated for future redevelopment potential. Located along the well-established Laurens Road corridor, 517 & 605 Laurens Rd sits within one of the most active commercial and residential areas of Greenville. The surrounding area provides strong business demand driven by population growth, retail activity, and convenient access to the city’s core. Downtown Greenville continues to experience strong growth, high tourism, and consistent local traffic. Being positioned along a primary route to I-385 means exposure to commuters entering and exiting the downtown core daily. The property size is 8118 square feet.
Key Highlights
- Strong positioning in a highly traveled corridor on Laurens Road.
- Flexibility for investors or businesses.
- Future redevelopment potential.
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
$120,297
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
4.81%
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%
$2,405,940
$2.4M
Cap Rate 7%
$1,718,529
$1.7M
Cap Rate 9%
$1,336,633
$1.3M
Market Conditions
NOI Build-Up for 8,118 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
$178.3K $21.96/SF
− Vacancy
−$6.4K −$0.79/SF
EGI
$171.9K $21.17/SF
− OpEx
−$51.6K −$6.35/SF
NOI
$120.3K $14.82/SF
Area
Greenville County, SC
Vacancy
3.60%
Lease Rate
$21.96 /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%
$2,405,940
Cap Rate 7%
$1,718,529
Cap Rate 9%
$1,336,633
Alternative Uses
Best Use
Retail
$1.72M
$1.50M – $2.00M
NOI $120,297 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.03M – $4.05M
NOI $242,795 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Spinx
Shops & Services
21,697 visits/mo
0.3 miles
Family Dollar
Shops & Services
4,489 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
978 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
973 visits/mo
0.4 miles
Demographics for 29607, SC
44,216
Population
22,288
Households
2
Avg Household Size
35
Median Age
50%
College-Educated
94%
High-School Grad
29.0 sq mi
ZIP Area
1,525
Density / Sq Mi
$69,249
Median Household Income
$46,549
Median Earnings
$1,339
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Retail in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Two neighboring commercial properties on Laurens Road for sale.
Where is this retail property located?
The property is located at 517 & 605 Laurens Rd Greenville, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Strong positioning in a highly traveled corridor on Laurens Road.; Flexibility for investors or businesses.; Future redevelopment potential.
