Downtown Greenville Investment
120 Broadus Ave Greenville, SC 29601
120 Broadus Ave, Greenville, SC, 29601
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For Sale
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Excellent investment property in Downtown Greenville with redevelopment potential.
Property Size20,000 SF
Price / SF$350
Days on Market631
Property Features for 120 Broadus Ave
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Office
Listing Agency
Spencer/Hines Properties
(864) 918-9944
Listed by
Zach Hines · License #SC 58750
Source
Crexi
Added: Oct 28, 2024 Updated: Jul 10 at 11:21 am Checked: Jul 20 at 6:40 am
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 Spencer/Hines Properties
Investment Insights
Based on property information with market context.
This commercial property, located in the Pettigru District of Downtown Greenville, presents an investment opportunity with potential for future redevelopment. The site's elevation offers mountain views and easy access from I-385. It is located minutes from Main Street, restaurants, and shops. The property is zoned RNX – B by the City of Greenville. The property features approximately 20,000 square feet of space. Tenant 1 occupies approximately 15,000 square feet and is ABS Kids, with a new 10-year lease commencing on March 1, 2025. New Landlord and Tenant Improvements exceed $650,000. Tenant 2 occupies approximately 5,000 square feet and is American Leprosy Missions, Inc., currently on their third renewal option. The property has ample surface parking onsite. The Net Operating Income (NOI) is $420,277.50 per year.
Key Highlights
- High Net Operating Income (NOI): $420,277.50/Year
- Desirable underlying real estate with great potential for future redevelopment.
- Brand new 10‑year lease with qualified national tenant (ABS Kids) commencing March 1, 2025, with significant landlord and tenant improvements exceeding $650,000.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $460.8k | $23.04 |
| − Vacancy | −$50.7k | −$2.53 |
| EGI | $410.1k | $20.51 |
| − OpEx | −$102.5k | −$5.13 |
| NOI | $307.6k | $15.38 |
20,000 SF · lease $23.04/SF/yr · vacancy 11.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.39M
$3.84M – $5.13M
NOI $307,584 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.55M
$7.48M – $9.97M
NOI $598,166 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
andDonovan
Marketing & Advertising
DOM360
Marketing & Advertising
Dealerverse
Department Store
American Leprosy Missions
Charitable Organization
robertdonovan.com
Marketing & Advertising
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Excellent investment property in Downtown Greenville with redevelopment potential.
Where is this office building located?
The property is located at 120 Broadus Ave Greenville, SC.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: High Net Operating Income (NOI): $420,277.50/Year; Desirable underlying real estate with great potential for future redevelopment.; Brand new 10‑year lease with qualified national tenant (ABS Kids) commencing March 1, 2025, with significant landlord and tenant improvements exceeding $650,000.
