Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Greenville Property For Sale Title is generated by Realmo AI

    429 N Main St, Greenville, SC 29601

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Mixed-use property in Greenville, SC, totaling 16,778 square feet.

    Type:Hospitality, Mixed Use, Multifamily, Office
    Property size:
    16,778 SF
    Price / SF:
    $250/SF
    Added:
    May 28, 2024
    Days on Market:
    735
    Last Refresh:
    May 12 at 10:42 pm

    Property Features for 429 N Main St

    General Information

    Standard status
    Active
    Size
    16,778 SF
    Property subtype
    Hospitality, Mixed Use, Multifamily, Office

    We can help!

    Listing Contact
    Chandler Ayers

    Listing agent Chandler Ayers License #104450

    Listing office Reedy Commercial

    Listing date May 28, 2024

    Source Crexi

    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 Reedy Commercial

    HighLights

    • No property information was provided to extract selling points.

    Overview

    This mixed-use property, located in Greenville, SC, is available for sale. The property encompasses a total area of 16,778 square feet and can be used for hospitality, multifamily, residential income, and office purposes.

    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 $386.6k $23.04
    − Vacancy −$42.5k −$2.53
    EGI $344.0k $20.51
    − OpEx −$86.0k −$5.13
    NOI $258.0k $15.38
    16,778 SF · lease $23.04/SF/yr · vacancy 11.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $3.69M
    $3.23M – $4.30M (±1% cap)
    NOI $258,032 @ 7.0% cap · market cap 6.14%
    Second Best
    Mixed Use
    $2.48M
    $2.17M – $2.89M (±1% cap)
    NOI $173,652 @ 7.0% cap · market cap 4.13%
    Theoretical Best
    Office A
    $7.17M
    $6.27M – $8.36M (±1% cap)
    NOI $501,801 @ 7.0% cap · market cap 11.95%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Safe Harbor Charitable Organization Lutheran Hospice Nursing Home Bewell Home Services-Greenville Home Health Care Service Graduate Greenville Training Center

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store 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
    -82.3140444
    Latitude
    34.7845711

    Nearby Similar for Sale

    • $1,800,000
      2,400 SF

      Greenville Commercial Property with Buildings

      Prime commercial property with existing buildings and high visibility.
      6225 White Horse Rd, Greenville, SC 29611
      View Details
    • $1,400,000
      10,000 SF

      Prime Greenville Commercial Corner Lot

      High-visibility mixed-use property near downtown Greenville with development potential.
      Poinsett Highway, Greenville, SC 29609
      View Details
    • $895,000
      2,457 SF

      Renovated Office Building Near Downtown

      Two-story office building with excellent visibility and renovated interiors.
      204 Mills Avenue, Greenville, SC 29605
      View Details
    • $369,900
      1,600 SF

      Greenville Commercial Building For Sale

      Commercial building in Greenville, SC with parking and handicap access.
      1 Elizabeth Drive, Greenville, SC 29615
      View Details
    • $390,000
      3,750 SF

      Greenville Office For Sale

      Office space available at 1601 Rutherford Rd, Greenville, SC.
      1601 Rutherford Road, Greenville, SC 29609
      View Details
    • $1,395,000
      4,000 SF

      Versatile Greenville Property with Parking

      Multipurpose property in Greenville with residential, office, and rental potential.
      906 Augusta Street, Greenville, SC 29605
      View Details
    • $369,000
      1,000 SF

      Luxury Motor Condos For Sale

      Private, gated motor suites designed for the automotive lifestyle.
      24 Gladys Drive, Greenville, SC 29607
      View Details
    • $369,000
      1,000 SF

      Luxury Motor Condos For Sale

      Private, gated, climate-controlled motor suites designed for automotive enthusiasts.
      24 Gladys Drive, Greenville, SC 29607
      View Details
    • $539,900
      2,400 SF

      New Construction Duplex Near Downtown

      New construction duplex with modern interiors near downtown Greenville.
      17A/17B Belle Court, Greenville, SC 29605
      View Details
    • $599,000

      Renovated Office Building, Greenville SC

      Renovated office building with parking and road visibility.
      1320 Haywood Road, Greenville, SC 29615
      View Details
    • $475,000
      1,900 SF

      Turnkey Duplex Near Downtown Greenville

      Newly built, fully furnished duplex ideal for short-term rentals.
      100 Parkstone Drive, Greenville, SC 29609-1459
      View Details
    • $950,000

      Premium Office in Greenville, SC

      Desirable office space near Prisma Health and USC Medical University.
      101 Chapman Street, Greenville, SC 29605
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Greenville, SC, totaling 16,778 square feet.
    Where is this mixed-use property located?
    The property is located at 429 N Main St Greenville, SC.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: No property information was provided to extract selling points.
    (864) 380-4917 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chandler Ayers
    Real Estate License ID: 104450
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    429 N Main St, Greenville, SC 29601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!