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    554 Memorial Drive Ext Greer, SC 29651
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    554 Memorial Drive Ext, Greer, SC 29651

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    • Office buildings
    • 0.68 lot acres
    For Sale
    $1,200,000
    View Listing →
    Renovated Office Building in Greer For Sale
    $1,200,000
    10,000 SF

    Renovated Office Building in Greer

    Updated office building with multiple suites and ample parking.

    554 Memorial Drive Extension, Greer, SC 29651
    View Listing
    Property ID
    US77-2242363
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 554 Memorial Drive Ext

    Lot size
    0.68 lot acres
    Zone code
    C-3
    Property type
    Office buildings
    APN
    G019.00-01-021.07
    APU
    G019000102107

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 28, 2022 — Msfes 554 Memorial Drive Ext LLC — Deed · related $450k · South State Bank NA
    Apr 16, 2021 $307,500 Msfes 554 Memorial Drive Ext LLC Colonel Johnson LLC Limited Warranty Deed $445k · Centerstate Bank
    Jul 8, 2020 — Jsks Investments LLC — Deed · related $197k · Grandsouth Bank
    Dec 19, 2019 $425,000 Amore Coml Prop LLC Colonel Johnson LLC Grant Deed $375k · Colonel Johnson LLC
    Aug 20, 2019 $415,000 Excalibur 3 LLC Colonel Johnson LLC Deed $332k · Greenville FCU
    Jan 17, 2019 — Schwartz Heritage LLC — Deed · related $3M · Bbi
    May 9, 2018 $42,500 Jsks Investments LLC Colonel Johnson LLC Grant Deed $43k · Crescom Bk
    Nov 7, 2016 $225,000 Jsks Investments LLC Colonel Johnson LLC Grant Deed $191k · Greer St Bk
    Apr 29, 2015 $1,050,001 Colonel Johnson LLC Master Of Greenville County|fm Professional Park L Trustees Deed —
    — — Schwartz Heritage LLC — Deed Of Trust · related $3M · Bbi

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Greer
    County
    Greenville
    State
    South Carolina
    Longitude
    -82.2426
    Latitude
    34.9543
    CBSA code
    24860
    CBSA name
    GREENVILLE-ANDERSON, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,273
    $5,320
    $23,550
    $28,870
    -
    $88,600
    $392,540
    $481,140

    Comparable in this City

    • Value Estimation
      $505,000
      1.63 Acres

      552 Memorial Dr Ext

      OFFICE BUILDING
      552 Memorial Dr Ext, Greer, SC 29651-1135
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    • Value Estimation
      $930,000
      4,700 SF

      525 Old Jones Rd

      OFFICE BUILDING
      525 Old Jones Rd, Greer, SC 29651-7180
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    • Value Estimation by Request
      336 SF

      1478 Abner Crk Rd

      OFFICE BUILDING
      1478 Abner Crk Rd, Greer, SC 29651-7154
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    • Value Estimation by Request
      4,550 SF

      203 Parksouth Dr

      OFFICE BUILDING
      203 Parksouth Dr, Greer, SC 29651-7370
      View Details
    • Value Estimation
      $715,000
      10,400 SF

      1 Century Pl

      OFFICE BUILDING
      1 Century Pl, Greer, SC 29651-7205
      View Details
    • Value Estimation by Request
      3,600 SF

      2418 Hwy 101st S

      PROFESSIONAL BUILDING
      2418 Hwy 101st S, Greer, SC 29651-7228
      View Details

    Similar Nearby for Sale

    • $1,200,000
      10,000 SF

      Renovated Office Building in Greer

      Updated office building with multiple suites and ample parking.
      554 Memorial Drive Ext, Greer, SC 29651
      View Details
    • Contact for pricing
      12,000 SF

      Highway 101 Office Building

      Office building with easy access and ample parking.
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      Downtown Greer Two-Story Brick Building

      Two-story brick building in downtown Greer with retail and office.
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      14,200 SF

      Mixed-Use Building on North Main

      14,200+- SF mixed-use building for sale on North Main.
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      High Visibility Corner Lot

      Corner lot in Greer with high visibility, for sale.
      360 Old Woodruff Rd, Greer, SC 29651
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    Similar Nearby for Lease

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      Renovated Office Building in Greer

      Multi-tenant office building in Greer Station, convenient location.
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      3,600 SF

      Furnished Office and Warehouse Space

      Furnished office and warehouse space available for lease.
      5 Northway Ct, Greer, SC 29651
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    • $585 /Mo
      71,003 SF

      Furnished Office Space Available

      Furnished and unfurnished offices with included utilities and amenities.
      552 Memorial Drive Ext, Greer, SC 29651
      View Details
    • Contact for pricing
      1,954 SF

      New Construction Retail/Office/Restaurant Space

      New construction retail, office, or restaurant space for lease.
      1970 Sc-101, Greer, SC 29651
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      Land Available For Development

      Land available for ground lease or build to suit.
      13435 E Wade Hampton Blvd, Greer, SC 29651
      View Details
    • Contact for pricing
      2,415 SF

      Office Space in Greer, SC

      Office space available for lease in Greer, South Carolina.
      219 Randall St, Greer, SC 29651
      View Details
    View Listing
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    Greer, SC 29651
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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.

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