Population
72,757
Growth (5Y)
+17.3%
Median Income
$54,000
Metro GDP
$40B
Market Overview
Greenville is one of the South's most compelling emerging NNN markets — an advanced manufacturing powerhouse anchored by BMW, Michelin, and GE that has consistently generated population and employment growth exceeding state and national averages. Cap rates of 5.5–7.25% reflect Greenville's Emerging market classification, but the economic fundamentals increasingly resemble a Secondary market. NNN investors who enter now are positioned to benefit from the cap rate compression that typically accompanies a market's graduation from Emerging to Secondary status.
Key Highlights
BMW's US headquarters and plant anchors one of the Southeast's strongest advanced manufacturing economies
17.3% population growth in 5 years — fastest-growing market in South Carolina
Michelin North America's US headquarters creates a unique European industrial corporate presence
Among the Southeast's highest cap rate markets for investment-grade NNN tenants
How the Market Has Evolved (2020–2025)
Greenville's NNN market from 2020 to 2025 was shaped by BMW's continued US expansion and the broader reshoring of manufacturing to the US Southeast. The I-85 corridor from Greenville to Spartanburg attracted billions in new manufacturing investment, as automotive, aerospace, and industrial suppliers sought proximity to BMW and Michelin's operations. Population grew 17.3% — the fastest in South Carolina — as workers relocated for manufacturing jobs and remote workers chose Greenville for its quality of life and affordability. NNN development accelerated: Starbucks, Chick-fil-A, and Dutch Bros all opened Greenville locations from 2021–2024, replacing an older retail landscape. Cap rates compressed from 7.0–8.5% in 2020 to 5.5–7.25% by 2025.
Why Invest in Greenville
- 1BMW and Michelin anchor the most internationally connected manufacturing economy in the Southeast
- 2Early-mover opportunity: cap rates at 5.5–7.25% in a market on a clear Secondary-tier trajectory
- 317.3% population growth in 5 years — retail demand is dramatically outpacing existing supply
- 4South Carolina's low taxes and low cost of living continue attracting corporate investment
Recent NNN Activity
"2025 NNN activity in Greenville is concentrated in the Simpsonville, Mauldin, and Taylors growth corridors. New Starbucks and Chick-fil-A assets are trading at 5.75–6.25% cap rates. Dollar General continues its aggressive Greenville MSA expansion with absolute NNN leases of 15 years."
NNN Snapshot
Cap Rate Range
5.5% - 7.25%
Price Range
$1.2M - $3.5M
Avg Lease Term
12 Years
Unemployment Rate
3%
Active NNN Tenants
McDonald'sDollar GeneralStarbucksChick-fil-AAutoZoneBurger KingO'Reilly Auto Parts
Major Employers
BMW ManufacturingMichelin North AmericaPrisma HealthGE PowerFluor CorporationBon Secours
Find NNN Properties in Greenville
Our advisors have exclusive, off-market NNN inventory in the Greenville market right now. Contact us to see what's available before it hits the public market.