Freestanding Office
New
For Sale
$790,000
908 East North Street, Greenville, SC 29601
Flexible interior arrangement with a dedicated conference room and on-site parking supports office operations.
Property Size2,485 SF
Days on Market3
Property Features for 908 East North Street
General Information
Standard status
Active
Size
2,485 SF
Class
B
Total Parking Spaces
7
Property subtype
Multi Tenant Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,485 SF
Listing Agency:
KW Commercial
(864) 422-9510
Listed By:
Brent Edgerton
(864) 422-9510
Source:
Thebrokerlist
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 3:56AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This freestanding Class B office property features an open interior layout with a private conference room. The configuration provides a practical setting for office occupancy and is positioned within Greenville’s historic district.
The property fronts East North Street in a busy commercial corridor, with Bon Secours Arena directly across the street. Access to I-385, Downtown Greenville, and the interstate network is convenient. Seven on-site parking spaces are included, adding dedicated parking for occupants and visitors.
The property fronts East North Street in a busy commercial corridor, with Bon Secours Arena directly across the street. Access to I-385, Downtown Greenville, and the interstate network is convenient. Seven on-site parking spaces are included, adding dedicated parking for occupants and visitors.
Key Highlights
- Freestanding Class B office property in Greenville’s historic district
- Open floor plan with a private conference room
- Seven on‑site parking spaces
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
$38,217
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
4.84%
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%
$764,340
$764.3K
Cap Rate 7%
$545,957
$546.0K
Cap Rate 9%
$424,633
$424.6K
Market Conditions
NOI Build-Up for 2,485 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
$57.3K $23.04/SF
− Vacancy
−$6.3K −$2.53/SF
EGI
$51.0K $20.51/SF
− OpEx
−$12.7K −$5.13/SF
NOI
$38.2K $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%
$764,340
Cap Rate 7%
$545,957
Cap Rate 9%
$424,633
Alternative Uses
Best Use
Office B
$546.0K
$477.7K – $637.0K
NOI $38,217 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.0K – $1.24M
NOI $74,322 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,461
Businesses Nearby
Explore this area
Business Placement
Demographics for 29601, SC
13,261
Population
8,067
Households
1.6
Avg Household Size
38
Median Age
52%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
3,157
Density / Sq Mi
$73,321
Median Household Income
$55,727
Median Earnings
$1,406
Median Rent
$583,200
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 - Flexible interior arrangement with a dedicated conference room and on-site parking supports office operations.
Where is this office building located?
The property is located at 908 East North Street Greenville, SC.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Freestanding Class B office property in Greenville’s historic district; Open floor plan with a private conference room; Seven on‑site parking spaces
