Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    117 Commons Way Greenville, SC 29611
    Back to Search
    Property profile & analytics

    117 Commons Way, Greenville, SC 29611

    View on Map
    • Office Spaces
    • 4,556 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lindsey Madsen / Physician
    • Amanda Groome / Physician
    • Jesse Grady / Physician
    • Lisa Finch / Physician

    Property Details for 117 Commons Way

    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    This exceptional two-story office building, located at 117 & 119 Commons Way in Greenville, South Carolina, presents a unique investment opportunity. The property boasts a total of 4,556 square feet of versatile space, currently entirely vacant and ready for immediate occupancy. The building's flexible layout allows for a single tenant to occupy the entire space or the potential for subdivision into two separate suites, catering to diverse business needs. The first floor comprises 3,000 square feet, while the second floor offers an additional 1,556 square feet. Ample parking is provided with 12 spaces available on-site. The property is zoned C-1, offering a range of potential uses including traditional office, executive office, medical office, and creative office spaces. The building's address is 117 & 119 Commons Way, Greenville, SC 29611, and its Assessor's Parcel Number (APN) is 0237040100600. This single-tenant building presents a rare opportunity to acquire a well-located, adaptable office space in a thriving Greenville market. The property's size and zoning provide significant flexibility for a variety of businesses. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Anderson
    State
    South Carolina
    Longitude
    -82.4559
    Latitude
    34.8536

    Comparable in this City

    • Value Estimation by Request

      3204 White Horse Rd

      MEDICAL BUILDING
      3204 White Horse Rd, Greenville, SC 29611-5916
      View Details
    • Value Estimation
      $1,555,000
      0.74 Acres

      6704 White Horse Rd

      MEDICAL BUILDING
      6704 White Horse Rd, Greenville, SC 29611-2504
      View Details
    • Value Estimation by Request
      1.54 Acres

      7701 White Horse Rd

      DENTAL BUILDING
      7701 White Horse Rd, Greenville, SC 29611-1827
      View Details
    • Value Estimation by Request
      8.74 Acres

      6 Dunean St

      MEDICAL BUILDING
      6 Dunean St, Greenville, SC 29611-6089
      View Details
    • Value Estimation by Request
      5.06 Acres

      14 Ss St

      MEDICAL BUILDING
      14 Ss St, Greenville, SC 29611-4776
      View Details
    • Value Estimation by Request
      1.65 Acres

      3029 White Horse Rd

      MEDICAL BUILDING
      3029 White Horse Rd, Greenville, SC 29611-7701
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,384 SF

      Greenville Office with Private Restroom

      Office space near downtown Greenville with private offices and parking.
      106 S Texas Ave, Greenville, SC 29611
      View Details
    • Contact for pricing
      2,200 SF

      Sublease Office Space Available

      Office space for sublease near Downtown, expires January 2026.
      157-159 Commons Way, Greenville, SC 29611
      View Details
    • $1,421,500
      8.32 Acres

      Greenville Land with All Utilities

      8.32 acres with utilities and high traffic count.
      250 Bent Bridge Rd, Greenville, SC 29611
      View Details
    • Contact for pricing
      891 SF

      Live-Work Home with Detached Garage

      Charming home with heated, insulated garage and 3-phase power.
      11 Bainbridge Dr, Greenville, SC 29611
      View Details
    • Contact for pricing
      Pending

      Townhomes in Greenville Arts District

      New townhomes in the heart of Greenville's arts district.
      3 Saco St, Greenville, SC 29611
      View Details
    • Contact for pricing

      Land Available in Greenville, SC

      Land for sale at 2505 New Easley Hwy, Greenville, SC
      2505 New Easley Hwy, Greenville, SC 29611
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      35,000 SF

      Woodside Mill Lofts: Creative Space

      Greenville SC retail/office space, 2,500-20,000 sq ft.
      1 Main St, Greenville, SC 29611
      View Details
    • Contact for pricing
      1,699 SF

      Renovated Office Space in Greenville

      Newly renovated office space with modern finishes and convenient parking.
      656 S Main St, Greenville, SC 29611
      View Details
    • $20 SF/Yr
      20,000 SF

      Loft Retail and Office Space

      Retail and office spaces in historic Woodside Mill district.
      1 E Main St, Greenville, SC 29611
      View Details
    • Contact for pricing
      2,600 SF

      Greenville Medical Office Space

      Modern medical office space available for lease in Greenville, SC.
      3807 White Horse Rd, Greenville, SC 29611
      View Details
    • $20 SF/Yr
      2,035 SF

      Textile Mill Lofts in Greenville

      Live, work, and play spaces with industrial architecture.
      201 Smythe St, Greenville, SC 29611
      View Details
    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.
    117 Commons Way
    Greenville, SC 29611
    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
    117 Commons Way, Greenville, SC, 29611
    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!