Flex Space with
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For Sale
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545 Rutherford Rd., Greenville, SC 29609
Versatile commercial building combining retail, office, and garage/warehouse areas with on-site parking.
Property Size8,979 SF
Lot Size0.90 Acres
Price / SF$96.34
Days on Market4
Property Features for 545 Rutherford Rd.
General Information
Standard status
Active
Size
8,979 SF
Lot size
0.90 Acres
Property subtype
Office, Retail
Warehouse & Industrial
Warehouse Space
4,000 SF
Office Build-Out
4,979 SF
Conditioned Warehouse
No
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Building Size
8,979 SF
Listing Agency:
MS Shore Company, Inc
Listed By:
Mardy Shore · License #SC 26328
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:59PM
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 MS Shore Company, Inc
Investment Insights
Based on property information with market context.
This flex property at 545 Rutherford Rd. in Greenville, South Carolina, provides approximately 8,979 SF across multiple commercial components. The ground level includes approximately 4,979 SF of retail/services and office space, while approximately 4,000 SF is configured as garage/warehouse area without HVAC. The site covers 0.899 acres and includes on-site parking with direct access from Rutherford Rd.
The property is near N. Main St. and Greenville’s CBD, providing a location suited to businesses requiring a combination of customer-facing, administrative, and storage or garage areas. A cell tower remains on the site but is excluded from the offering; the tower owner retains an ingress easement.
The property is near N. Main St. and Greenville’s CBD, providing a location suited to businesses requiring a combination of customer-facing, administrative, and storage or garage areas. A cell tower remains on the site but is excluded from the offering; the tower owner retains an ingress easement.
Key Highlights
- Approximately 8,979 SF of commercial flex space
- Approximately 4,000 SF of garage/warehouse space without HVAC
- Approximately 4,979 SF of retail/services and office space
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
$42,016
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
4.86%
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%
$840,320
$840.3K
Cap Rate 7%
$600,229
$600.2K
Cap Rate 9%
$466,844
$466.8K
Market Conditions
NOI Build-Up for 8,979 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
$54.0K $6.01/SF
− Vacancy
−$4.5K −$0.50/SF
EGI
$49.4K $5.51/SF
− OpEx
−$7.4K −$0.83/SF
NOI
$42.0K $4.68/SF
Area
Greenville County, SC
Vacancy
8.40%
Lease Rate
$6.01 /SF/Yr
Expense Ratio
15.00%
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%
$840,320
Cap Rate 7%
$600,229
Cap Rate 9%
$466,844
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.22M
NOI $133,056 @ 7.0% cap · market cap 15.38%
Second Best
Warehouse
$600.2K
$525.2K – $700.3K
NOI $42,016 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $268,546 @ 7.0% cap · market cap 31.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29609, SC
31,547
Population
14,840
Households
2.1
Avg Household Size
38
Median Age
47%
College-Educated
89%
High-School Grad
24.3 sq mi
ZIP Area
1,298
Density / Sq Mi
$64,837
Median Household Income
$42,293
Median Earnings
$1,078
Median Rent
$303,800
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?
Flex space - Versatile commercial building combining retail, office, and garage/warehouse areas with on-site parking.
Where is this flex space located?
The property is located at 545 Rutherford Rd. Greenville, SC.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Approximately 8,979 SF of commercial flex space; Approximately 4,000 SF of garage/warehouse space without HVAC; Approximately 4,979 SF of retail/services and office space
