For Sale
$525,000
705 W Parker Road, Greenville, SC 29611
Duplexes
Property Size2,902 SF
Days on Market9
Property Features for 705 W Parker Road
General Information
Standard status
Active
Size
2,902 SF
Property subtype
Duplex
Amenities
Acres: 0.21, Area: 9147.6, Dimensions: 30 x 157 x 78 x 138, Square Feet: 9147.6
Roof: Architectural
Tax Annual Amount: $10,339
Cooling Included, Cooling: Electric, Heat Pump
Heating Included, Heating: Electric, Heat Pump
Contract Status Change Date: 2026-08-21, Listing Terms: None, Standard Status: Active
Parking Features: Two Spaces
Elementary School: Alexander, Middle Or Junior School: Lakeview, High School: Greenville
6 total bedrooms
Building Area Total: 2902, Built in 2024, Construction Materials: Vinyl Siding, Levels: Two, Stories: 2
City: Greenville, County Or Parish: Greenville, MLS Area Major: 075, Postal Code: 29611, State Or Province: SC, Subdivision Name: None
Number Of Units Total: 2, Parcel Number: 0136001000100, Property Condition: 1-5, Property Sub Type: Duplex
4 full bathrooms, 2 half bathrooms, 6 total bathrooms
Utilities: Sewer Available, Water Source: Public
Foundation Details: Crawl Space
Patio And Porch Features: Unit 1: Deck, Unit 2: Deck
Security Features: Unit 2: Security System-Lease
Appliances: Electric Water Heater
Building Details
Building Size
2,902 SF
Year Built
2024
Listing Agency:
BHHS C Dan Joyner - Midtown
(864) 230-4650
Listed By:
Jim Fritzsche
(864) 230-4650
Source:
Blackstreaminternational
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 24 at 3:47AM
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 BHHS C Dan Joyner - Midtown
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
$29,486
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
5.62%
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%
$589,720
$589.7K
Cap Rate 7%
$421,229
$421.2K
Cap Rate 9%
$327,622
$327.6K
Market Conditions
NOI Build-Up for 2,902 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
$44.6K $15.36/SF
− Vacancy
−$2.5K −$0.84/SF
EGI
$42.1K $14.52/SF
− OpEx
−$12.6K −$4.35/SF
NOI
$29.5K $10.16/SF
Area
Greenville County, SC
Vacancy
5.50%
Lease Rate
$15.36 /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%
$589,720
Cap Rate 7%
$421,229
Cap Rate 9%
$327,622
Alternative Uses
Best Use
Multifamily LT 5
$421.2K
$368.6K – $491.4K
NOI $29,486 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.7K
NOI $26,384 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,794 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 29611, SC
32,413
Population
14,620
Households
2.2
Avg Household Size
36
Median Age
19%
College-Educated
78%
High-School Grad
23.9 sq mi
ZIP Area
1,356
Density / Sq Mi
$47,046
Median Household Income
$32,272
Median Earnings
$1,092
Median Rent
$163,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
Where is this duplex located?
The property is located at 705 W Parker Road Greenville, SC.
What is the asking price?
The asking price for this property is $525,000.
