Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    120 Broadus Ave Greenville, SC 29601
    Back to Search
    Property profile & analytics

    120 Broadus Ave, Greenville, SC 29601

    View on Map
    • Office Spaces
    • 20,000 SF
    • 1.43 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • andDonovan / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • DOM360 / Marketing & Advertising / Advertising Agency
    • Dealerverse / Department Store
    • American Leprosy Missions / Charitable Organization
    • robertdonovan.com / Marketing & Advertising

    Property Details for 120 Broadus Ave

    Lot size
    1.43 lot acres
    Property type
    Office Spaces

    Description

    This exceptional investment opportunity presents a two-story, 20,000 square foot office building situated on a 1.43-acre lot in Greenville, South Carolina's desirable Pettigru District. The property boasts a strong net operating income (NOI) of $420,277 annually, and features ample on-site surface parking. Its convenient location offers easy access to I-385 and is just minutes from Main Street's vibrant restaurants and shops. The elevated site provides stunning mountain views. Currently, the building is occupied by two tenants: ABS Kids, a national tenant with a brand new 10-year lease commencing March 1, 2025, occupying approximately 15,000 square feet, and American Leprosy Missions, Inc., occupying approximately 5,000 square feet, currently on their third lease renewal option. Recent landlord and tenant improvements exceeding $650,000 have been completed. The property is zoned RNX-B (City of Greenville) and has a tax map number of 0044000100500. This presents a compelling opportunity for institutional investors seeking a stable, high-performing asset with significant redevelopment potential in a thriving downtown location. The asking price is $7,000,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.3922
    Latitude
    34.8506

    Comparable in this City

    • Value Estimation by Request
      58,961 SF

      401 Stone Ave

      Restaurants
      401 Stone Ave, Greenville, SC 29601
      View Details
    • Value Estimation by Request
      21,822 SF

      455 Buncombe St

      Office Spaces
      455 Buncombe St, Greenville, SC 29601
      View Details
    • Value Estimation by Request
      5,400 SF

      18 North St

      Office Spaces
      18 North St, Greenville, SC 29601
      View Details
    • Value Estimation by Request

      7 Laurens St

      Office Spaces
      7 Laurens St, Greenville, SC 29601
      View Details
    • Value Estimation by Request

      75 Mcbee Ave

      Medical Office Space
      75 Mcbee Ave, Greenville, SC 29601
      View Details
    • Value Estimation by Request
      2,070 SF

      718 Main St

      Office Units
      718 Main St, Greenville, SC 29601
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Mixed-Use Greenville Property For Sale

      Mixed-use property in Greenville, SC, totaling 16,778 square feet.
      429 N Main St, Greenville, SC 29601
      View Details
    • Contact for pricing
      20,000 SF

      Downtown Greenville Redevelopment Opportunity

      Redevelopment opportunity in Downtown Greenville with mountain views.
      1 Alm Way, Greenville, SC 29601
      View Details
    • Contact for pricing
      5,288 SF

      Greenville Office Building For Sale

      Office building with parking near downtown Greenville.
      9 Washington Park, Greenville, SC 29601
      View Details
    • Contact for pricing

      Two Greenville Office Buildings For Sale

      Two office buildings with excellent visibility near downtown Greenville.
      429 N Main St, Greenville, SC 29601
      View Details
    • Contact for pricing
      3,696 SF

      Renovated Multi-Tenant Office Building

      Renovated office building near downtown Greenville with ample parking.
      506 Pettigru St, Greenville, SC 29601
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Greenville, SC.
      10 S Academy St, Greenville, SC 29601
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available with 2,500 square feet.
      414 Pettigru St, Greenville, SC 29601
      View Details
    • Contact for pricing

      Downtown Greenville Commercial Suites

      Highly visible commercial suites in the heart of downtown Greenville.
      205 N Laurens St, Greenville, SC 29601
      View Details
    • Contact for pricing
      2,150 SF

      Historic Downtown Greenville Office Space

      Historic office building in downtown Greenville with modern amenities.
      130 S Main St, Greenville, SC 29601
      View Details
    • Contact for pricing
      2,176 SF

      Downtown Greenville Office Space

      Office space with scenic views in downtown Greenville.
      15 S Main St, Greenville, SC 29601
      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.
    120 Broadus Ave
    Greenville, SC 29601
    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
    120 Broadus Ave, 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!