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    18 North St Greenville, SC 29601

    Sponsored
    For Lease
    $26 SF/Yr ($11,700 /Mo)

    5,400 SF Executive Suite Available

    Lot size:
    5,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    This exceptional 5,400-square-foot executive office suite is located at 18 E North Street in Greenville County, South Carolina. The space is currently vacant and available for immediate occupancy as a single-tenant lease. The property is classified as a Class B building and sits within a MX-D zoning district, offering significant flexibility for various business uses. The entire 5,400 square feet is available, providing ample room for a growing company or a business seeking a prestigious location. The lease rate is $26 per square foot, triple net (NNN), with a tenant improvement allowance and common area maintenance (TICAM) charge of $11.78 per square foot. The lease term extends until January 31, 2031, offering long-term stability. The landlord is open to negotiating the delivery of the space, which can be furnished or unfurnished to suit the tenant's needs. Furthermore, there is a possibility of assigning five parking spaces at an additional monthly cost of $540. This presents a unique opportunity to secure a substantial, well-located office space in the thriving Greenville market. The property's size and zoning make it ideal for a variety of businesses seeking a prominent presence in the city. Interested parties should inquire promptly to secure this exceptional opportunity.

    Property Features for 18 North St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,400 SF
    Class
    B
    Total Rate
    11700

    Spaces For Lease

    at 18 North St, Greenville, SC 29601 Contact us
    Unit 18 E. North St.

    $26 /Mo

    Size
    5,400 SF
    Contact us

    We can help!

    Listing Contact
    Bradley Toy
    Bradley Toy

    Learn more

    HighLights

    • 5,400 SF Executive Office Suite in Greenville County.
    • Single‑tenant occupancy, fully vacant.
    • Class B building.
    • MX‑D Zoning.
    • Asking rent: $26/SF NNN, TICAM $11.78/SF.
    • Lease expires January 31, 2031.
    Property Profile Location Intelligence

    Current Use by Public Records

    Angell Molony Judgment ... Law Firm Dixies Tavern Bar & Pub St John & Partners Marketing & Advertising The Mass Media Group Media Distribution Greenville Elks Lodge Tour Operator

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3975292
    Latitude
    34.8520075

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    FAQs

    What type of property is this?
    Office Property / Space - 5,400 SF Executive Suite Available
    Where is this office property / space located?
    The property is located at 18 North St Greenville, SC.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: 5,400 SF Executive Office Suite in Greenville County.; Single-tenant occupancy, fully vacant.; Class B building.
    (864) 640-7429
    Request Owner's contact information
    18 North St Greenville, SC 29601
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    Greenville, SC 29601
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    18 North St Greenville, SC 29601
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    We can help!
    Listing Contact
    Bradley Toy
    Bradley Toy
    Real Estate License ID: 46844
    (864) 640-7429
    Learn more
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