New Development – Cost Seg Building

I happen to have been driving by this one regularly as I saw the parcel being developed along Butler Road in Mauldin / Greenville area. So it was nice to get the call from one of the brokers involved in selling the building to see if I could run some numbers for the new owner for cost segregation study.

These buildings are very nice. I enjoy working with brand new buildings – who doesn’t, right?

This one is just getting underway so I don’t have any ballpark results to share but I do expect that it will perform quite well. Medical offices generally do very well with studies. There is often lots of specialty plumbing, electrical, lighting etc. that get identified as 5 year class life property. Whereas most “offices” seem to produce maybe 8-12% for 5 year class life property, most of the medical offices I’ve been working on are seeing 18-20% for the 5 year. 15 year will do fine of course as there is a decent parking lot that surrounds this building.

New Flex Industrial Space – Spartanburg, SC

Nearly every week I’ll get asked the question if a particular building would be worth studying. My comment is generally they are all worth studying. Would it be worth it if the fee were $15-$20k? No. But under $5k for a lot of these buildings…all day long. What if you could accelerate or depreciate 10-20% of your building’s cost in the first year? (Each building will vary).

Here’s a brand new development by Jordan Skellie, CCIM with Lee and Associates in Greenville, SC. This is an excellent brand new flex building located in Spartanburg, SC. These kinds of small industrial spaces are in high demand. In other parts of the country they might call these Contractor Garages. This building is within about 3 minutes of entering and exiting the all important I-85 that runs between Atlanta and Charlotte and goes right through Greenville and Spartanburg in the Upstate of South Carolina.

Jordan still has some some available as he just got the Certificate of Occupancy. Reach out to Jordan Skellie if you’re interested in the space.