Share This Listing

Message

943 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

Offices on Eleven 3598 Highway 11 28,000 SF 95% Leased Office Building Travelers Rest, SC 29690 $2,925,000 ($104.46/SF) 9.29% Cap Rate

Save this listing!

Favorite this listing to get notified of price updates, new media and more

INVESTMENT HIGHLIGHTS

  • Fully occupied
  • Major improvements in 2024
  • Little to no ownership management
  • Stabilized
  • Part-time front desk in place

EXECUTIVE SUMMARY

The property is a fully stabilized, 100% occupied, Class A luxury flex commercial real estate asset, conveniently situated off a primary highway and within the esteemed Cliffs community.
Continuing to increase the remaining leases to market would set the property value at $4,000,000. Enjoy $1,000,000 upside just by increasing rents.
It boasts several distinctive amenities on-site, including a large waterfall and a private walking trail. The owner has dedicated the past two years to stabilizing the property by replacing low-paying tenants and implementing numerous upgrades. A part-time receptionist is responsible for all leasing duties and property operations. This represents a turn-key investment, allowing the investor to relax while generating passive cash flow and appreciating asset value. The current owner invests approximately one hour per month or less in management, with new systems established for operational efficiency.
Recent upgrades include:
Parking lot striping
Security Cameras
HVAC Units
Roof Updates
Property Management Software
Vending Machine
Unit Updates
Private Trail Groomed

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $254,051 $7.94

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual $254,051
Annual Per SF $7.94

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Building Size
28,000 SF
Building Class
A
Year Built/Renovated
2007/2024
Price
$2,925,000
Price Per SF
$104.46
Cap Rate
9.29%
NOI
$271,763
Percent Leased
95%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,000 SF
Building FAR
0.12
Lot Size
5.32 AC
Zoning
C - Commercial
Parking
150 Spaces (5.36 Spaces per 1,000 SF Leased)

AMENITIES

  • 24 Hour Access
  • Security System
  • Signage
  • Central Heating
  • Reception
  • Wi-Fi
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Real Estate
  • -
  • -
  • -

South Street Partners is a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC whose subsidiaries include Kiawah Partners, Kiawah Island Club & Real Estate, Residences at Salamander and The Cliffs, as well as Southeast Land Management, one of the largest privately-owned land portfolios in the Southeast. South Street acts as a principal investment platform and master developer, specializing in the development and management of luxury residential private club communities. The company has over $1 billion of assets under management and has deployed over $330 million of equity across special situations, opportunistic and value-add residential and commercial real estate investments in the southeastern United States as well as continental United States and international markets.

  • Construction
  • -
  • -
  • -

Crescent Hospitality is proud to offer exceptional lodging at The Cliffs Communities. Members at The Cliffs can enjoy access to a wide variety of luxury rental properties in six different locations. Take full advantage of the numerous amenities available at The Cliffs, and immerse yourself in whatever you love most. Relax on Lake Keowee at one of our many lakefront homes, enjoy the serenity of a private mountain retreat, or escape to a quiet cottage. Whether you are planning a weekend away, or a family vacation, they have just the right accommodations you need to create memories that will last a lifetime. They also specialize in group lodging and can assist with rental options for golf outings, business retreats, and special events.

  • Arts, Entertainment, and Recreation
  • -
  • -
  • -

Crystal Valley Day Spa is located at the foot of the Blue Ridge Mountains in northern Travelers Rest. They are convenient to the Cliffs Developments, the city of Greenville and most of the Upstate of South Carolina. Their highly qualified staff at Crystal Valley Day Spa offer a full range of services for hair, natural nails, skin and massage to nurture the wellbeing of body, mind and spirit. Their staff is able to customize each treatment to suit the individual needs of our guests. They take pride in using quality products that are safe as well as effective. It is their goal to make a difference in the lives they touch by offering the highest level of service by trained professionals in a relaxing environment.

  • Wholesaler
  • -
  • -
  • -

Hometown Roof & Exterior Cleaning is grateful to be a family owner/operator service out of SC. They are a certified Roof Cleaning and exterior cleaning service, concentrating on improving your homes curb appeal and sustaining the life of your commercial or residential property.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Since 1999 McAbee Architects has helped churches with their facility needs, providing creative and economical solutions that enhance church ministry. With over 300 church projects in our history, they are one of the most experienced church architecture firms in the Carolinas and Georgia. Helping you get the most out of your existing or new church building is their passion. They research new ideas and stay up to date on all the latest ministry tools and strategy. Their small, highly experienced professional staff will handle your project personally, ensuring that you are not handed off to different team members along your journey to a better facility.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Real Estate - - -
Construction - - -
Arts, Entertainment, and Recreation - - -
Wholesaler - - -
Professional, Scientific, and Technical Services - - -

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl-Ste 104
  • 1,750 SF
  • Office/Retail
  • Full Build-Out
  • Now
Space Size Space Use Condition Available
1st Fl-Ste 104 1,750 SF Office/Retail Full Build-Out Now

1st Fl-Ste 104

Size
1,750 SF
Space Use
Office/Retail
Condition
Full Build-Out
Available
Now

1st Fl-Ste 104

Size 1,750 SF
Space Use Office/Retail
Condition Full Build-Out
Available Now

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0662.06-01-001.00
Land Assessment
$1,740
Improvements Assessment
$149,480
Total Assessment
$151,220
  • Listing ID: 34641485

  • Date on Market: 1/29/2025

  • Last Updated:

  • Address: 3598 Highway 11, Travelers Rest, SC 29690

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}