Three-Level Mixed-Use
For Sale
$750,000
202 Main St., Greenwood, SC 29646
Commercial Sale, Greenwood, SC
Property Size5,308 SF
Price / SF$141.30
Days on Market624
Property Features for 202 Main St.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
5,308 SF
Building Details
Year built
1917
Listing Agency:
The Whitmire Agency
(864) 388-7653
Listed By:
Tripp Whitmire · License #30928
(864) 344-0812
Added: Jan 9, 2025
Changed: Sep 2
Last Checked: Sep 25 at 7:06PM
MLS# 131936
Copyright © 2026 Greenwood Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 202 Main St. in Greenwood, this three-level mixed-use building contains 5,308 square feet and was built in 1917. The finished main level is configured for retail, office, or other commercial applications.
The upper level provides additional space that could be finished for a studio apartment, retail, or other uses. A basement offers substantial storage capacity. The corner building is positioned in the Uptown area and provides visibility from its location.
The property combines finished commercial space with upper-level adaptability and dedicated basement storage within one building.
The upper level provides additional space that could be finished for a studio apartment, retail, or other uses. A basement offers substantial storage capacity. The corner building is positioned in the Uptown area and provides visibility from its location.
The property combines finished commercial space with upper-level adaptability and dedicated basement storage within one building.
Key Highlights
- 5,308‑square‑foot mixed‑use building at 202 Main St., Greenwood, SC 29646
- Three‑level configuration with finished main‑level retail or office space
- Upper level may be finished for a studio apartment, retail, or other uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,549
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,050,980
$1.1M
Cap Rate 7%
$750,700
$750.7K
Cap Rate 9%
$583,878
$583.9K
Market Conditions
NOI Build-Up for 5,308 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$95.5K $18.00/SF
− Vacancy
−$11.5K −$2.16/SF
EGI
$84.1K $15.84/SF
− OpEx
−$31.5K −$5.94/SF
NOI
$52.5K $9.90/SF
Area
Greenwood County, SC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,050,980
Cap Rate 7%
$750,700
Cap Rate 9%
$583,878
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,573 @ 7.0% cap · market cap 12.08%
Second Best
Mixed Use
$750.7K
$656.9K – $875.8K
NOI $52,549 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,721 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished main-level space supports retail, office, or other commercial uses, with additional upper-level and basement areas.
Where is this mixed-use property located?
The property is located at 202 Main St. Greenwood, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,308‑square‑foot mixed‑use building at 202 Main St., Greenwood, SC 29646; Three‑level configuration with finished main‑level retail or office space; Upper level may be finished for a studio apartment, retail, or other uses
