Renovated Lobby Office
For Sale
Contact for pricing
84 Villa Rd, Greenville, SC 29615
Office property includes maintained exterior landscaping and an updated arrival area.
Property Size25,640 SF
Price / SF$321.76
Days on Market520
Property Features for 84 Villa Rd
General Information
Standard status
Active
Size
25,640 SF
Property subtype
OFFICE
Amenities
renovated entrance lobby
well maintained exterior landscaping
Building Details
Buildings
1
Building Size
25,640 SF
Parking Ratio
3.5 per 1,000 SF
Listing Agency:
CBRE | Greenville
(864) 527-6035
Listed By:
Charles Gouch · License #44068
(864) 527-6035
Source:
Moodyscre
Added: Mar 28, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:46PM
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 CBRE | Greenville
Investment Insights
Based on property information with market context.
The office building at 84 Villa Rd in Greenville offers up to ±25,640 square feet, with individual availability ranging from ±907 to ±13,542 RSF. Property improvements include a renovated entrance lobby and maintained exterior landscaping, providing a functional setting for office occupancy.
Parking is provided at a ratio of 3.5 spaces per 1,000 square feet. Existing lease income is in place, while the property may also be offered vacant or with a partial leaseback structure. An adjacent one-acre lot may be made available with the building.
Parking is provided at a ratio of 3.5 spaces per 1,000 square feet. Existing lease income is in place, while the property may also be offered vacant or with a partial leaseback structure. An adjacent one-acre lot may be made available with the building.
Key Highlights
- Up to ±25,640 SF available
- Available spaces range from ±907 to ±13,542 RSF
- Parking ratio of 3.5/1,000 sf
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
$394,323
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
4.78%
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%
$7,886,460
$7.9M
Cap Rate 7%
$5,633,186
$5.6M
Cap Rate 9%
$4,381,367
$4.4M
Market Conditions
NOI Build-Up for 25,640 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
$590.7K $23.04/SF
− Vacancy
−$65.0K −$2.53/SF
EGI
$525.8K $20.51/SF
− OpEx
−$131.4K −$5.13/SF
NOI
$394.3K $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 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%
$7,886,460
Cap Rate 7%
$5,633,186
Cap Rate 9%
$4,381,367
Alternative Uses
Best Use
Office B
$5.63M
$4.93M – $6.57M
NOI $394,323 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.95M
$9.59M – $12.78M
NOI $766,848 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,185
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 Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property includes maintained exterior landscaping and an updated arrival area.
Where is this office building located?
The property is located at 84 Villa Rd Greenville, SC.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: Up to ±25,640 SF available; Available spaces range from ±907 to ±13,542 RSF; Parking ratio of 3.5/1,000 sf
