Remodeled Office
For Sale
Contact for pricing
880 South Pleasantburg Drive, Greenville, SC 29607
Office condo with a kitchen, restrooms, and designated parking.
Property Size1,950 SF
Price / SF$179.49
Days on Market126
Property Features for 880 South Pleasantburg Drive
General Information
Standard status
Active
Size
1,950 SF
Class
B
Property subtype
Office
Zoning
MX-2
Amenities
kitchen
designated parking
Building Details
Year Built
1983
Units
5
Tenancy
Multi
Listing Agency:
Lee & Associates - Greenville
(864) 704-1045
Listed By:
Chris Schwab · License #125972
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 31 at 8:37PM
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 office condominium provides approximately 1,950 SF of workspace in a recently remodeled setting. The interior includes an efficient configuration, a kitchen, and two restrooms, with designated parking assigned to the property.
Constructed in 1983, the property is located at 880 S Pleasantburg Dr in Greenville, South Carolina. Its office-oriented layout and existing improvements offer a functional setting for professional occupancy.
Constructed in 1983, the property is located at 880 S Pleasantburg Dr in Greenville, South Carolina. Its office-oriented layout and existing improvements offer a functional setting for professional occupancy.
Key Highlights
- ±1,950 SF office condo
- Newly remodeled interior
- Kitchen included
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
$29,989
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
8.57%
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%
$599,780
$599.8K
Cap Rate 7%
$428,414
$428.4K
Cap Rate 9%
$333,211
$333.2K
Market Conditions
NOI Build-Up for 1,950 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
$44.9K $23.04/SF
− Vacancy
−$4.9K −$2.53/SF
EGI
$40.0K $20.51/SF
− OpEx
−$10.0K −$5.13/SF
NOI
$30.0K $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%
$599,780
Cap Rate 7%
$428,414
Cap Rate 9%
$333,211
Alternative Uses
Best Use
Office B
$428.4K
$374.9K – $499.8K
NOI $29,989 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.2K
$729.0K – $972.0K
NOI $58,321 @ 7.0% cap · market cap 16.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
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 Office in Greenville, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo with a kitchen, restrooms, and designated parking.
Where is this office units located?
The property is located at 880 South Pleasantburg Drive Greenville, SC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: ±1,950 SF office condo; Newly remodeled interior; Kitchen included
