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    10 Academy St Greenville, SC 29601

    Sponsored
    For Lease
    $24 SF/Yr

    Prestigious Greenville Office Suites Available

    Lot size:
    58,586 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional three-story office building, located at 10 S. Academy Street in Greenville, South Carolina, offers a prime opportunity for businesses seeking executive-level office space. The property boasts a total of 58,586 square feet, with flexible lease options available. Two spaces are currently available, ranging from a minimum of 5,196 square feet to a maximum contiguous space of 14,719 square feet, catering to a variety of business needs and sizes. The building's location in Greenville County, zip code 29601, provides excellent access to major transportation routes and amenities. The multiple tenancy structure allows for a diverse and vibrant work environment. This is an ideal location for businesses seeking a prestigious address and flexible space options in the heart of Greenville. The building's design and layout are well-suited for executive offices, offering a professional and modern atmosphere. Interested parties are encouraged to inquire about lease terms and availability for these exceptional office spaces. The property is situated in Greenville, SC, offering a strategic location for businesses seeking a thriving and dynamic environment. The building's size and layout provide ample space for various business configurations. Contact us to schedule a viewing and explore the possibilities.

    Property Features for 10 Academy St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    58,586 SF
    Total Rate
    119613.08

    Building Details

    Stories
    3

    Unit(s) available at that property

    Space
    Suite 200
    Size
    14,719 SF
    Rate per SF
    $24
    Space
    Suite 300
    Size
    13,704 SF
    Rate per SF
    $24

    We can help!

    Listing Contact
    Keith Jones
    Keith Jones

    Learn more

    Property Insight Report

    HighLights

    • Three‑story office building in Greenville's Central Business District (CBD).
    • ±19,915 SF of office space available, including Suite 200 (±5,196 SF - ±14,719 SF).
    • Ample on‑site parking available at $45.00 per space.
    • Excellent pedestrian access to downtown Greenville.
    • High traffic location with 28,400 vehicles per day (VPD) on N. Academy Street.
    • Strong tenant roster including AGFA Corporation, Bon Secours, and Vannoy Construction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Standard Constructors, Inc. General Contractor Greenville Women Giving Women'S Organization Paragon BPO Legal Services Vannoy Construction - Greenville General Contractor Community Foundation of Greenville Non-Profit Organization

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.4034024
    Latitude
    34.8514008

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious Greenville Office Suites Available
    Where is this office property / space located?
    The property is located at 10 Academy St Greenville, SC.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Three-story office building in Greenville's Central Business District (CBD).; ±19,915 SF of office space available, including Suite 200 (±5,196 SF - ±14,719 SF).; Ample on-site parking available at $45.00 per space.
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    10 Academy St 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
    10 Academy St Greenville, SC 29601
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    We can help!
    Listing Contact
    Keith Jones
    Keith Jones
    Real Estate License ID: SC 52203
    Learn more
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