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    506 Pettigru St Greenville, SC 29601

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    For Lease
    Contact for pricing

    Class A Office Suites Available Now

    Lot size:
    3,696 SF

    Property Features for 506 Pettigru St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,696 SF
    Class
    A
    Total Rate
    7952.56

    Building Details

    Year Built/Renovated
    1935/2023
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 506 Pettigru St, Greenville, SC 29601 Contact us
    Unit Available Space 3

    $25 /Mo

    Size
    790 SF
    Contact us

    We can help!

    Listing Contact
    Robert Brissie
    Robert Brissie

    Listing Agency: Cardinal Commercial Properties, LLC Listing Agent: Robert Brissie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This beautifully renovated, two-story Class A office building at 506 Pettigru Street in Greenville, South Carolina, offers multiple suites for lease. The 3,696 square foot building sits on a 0.244-acre lot and boasts a 2023 renovation. Currently, one vacant suite of approximately 790 square feet is available on the first floor, ideal for executive or creative office use. The minimum leasable space is 500 square feet, with a maximum contiguous space of 900 square feet. The building features a total of three suites and ample on-site parking for 20 vehicles. Its prime location provides easy access to downtown Greenville, Interstate 385, and Laurens Road. Built in 1935, this property benefits from its recent modernization while retaining its character. The zoning is designated as OD. The building is a single structure with two stories and no elevators. This is an exceptional opportunity for businesses seeking a prestigious and convenient location in Greenville's thriving commercial district. Inquire today to learn more about leasing options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Law Offices of W. ... Law Firm Marchant Law Firm Law Firm Chambers Law Firm Law Firm Rehabilitation Associates Medical Clinic Elevated Chiropractic Solutions Alternative Medicine Practice

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3865238
    Latitude
    34.8506655

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    FAQs

    What type of property is this?
    Office space - Class A Office Suites Available Now
    Where is this office space located?
    The property is located at 506 Pettigru St Greenville, SC.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Beautifully renovated Class A, two-story office building at 506 Pettigru St., Greenville, SC.; 3,696 square foot building on a 0.244-acre lot, renovated in 2023.; One 790 square foot first-floor suite available for lease; minimum lease 500 SF, maximum contiguous 900 SF.
    (864) 233-7724 Call to check price and availability
    Request Owner's contact information
    506 Pettigru 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
    506 Pettigru St Greenville, SC 29601
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Robert Brissie
    Robert Brissie
    Real Estate License ID: 126566
    (864) 233-7724
    Learn more
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