Historic Main Street Mixed-Use
For Sale
$379,900
103 E Main Street, Walhalla, SC 29691
Multi-level building offers a leased apartment and a street-level retail level with separate entrances and dedicated rear parking.
Property Size1,950 SF
Days on Market95
Property Features for 103 E Main Street
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Retail
Additional Details
Sprinkler System
Yes
Multifamily Units
1
Amenities
rear deck
0.14 acres, CityLot
Parcel Number: 500-15-09-014
Concrete, Wood
HeatPump
Listing ID: 20301739, Standard Status: Active, MLS Status: Active, Property Subtype: Retail, On market as of 2026-05-21, 66 days on market
Other Parking: 11 - 25
Built in 1950, Year Built Details: Over 25 Years, Levels: ThreeOrMore
MLS Area (Major): 203-Oconee County,SC, County/Parish: Oconee
CableAvailable, ElectricityAvailable, NaturalGasAvailable, SewerAvailable, WaterAvailable
Frontage Type: Highway
Storage
FireSprinklerSystem
WaterHeater
Building Details
Building Size
1,950 SF
Year Built
1950
Stories
3
Listing Agency:
NorthGroup Real Estate
(864) 723-6696
Listed By:
Amber Crain · License #97429
(864) 723-6696
Source:
Blackstreaminternational
Added: May 21
Changed: Aug 23
Last Checked: Aug 22 at 4:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NorthGroup Real Estate
Investment Insights
Based on property information with market context.
This historic mixed-use building is positioned on Main Street and includes three levels with separate private entrances. The upper level features a currently leased apartment with both front and rear entrances. The main retail level provides direct frontage and an entrance from Main Street, along with an additional rear entrance. The interior includes an expansive retail or showroom area, a bathroom, and two large storage/utility rooms, with durable concrete flooring and custom exterior doors.
A basement level is accessible from the rear entrance and retains historical items associated with the building’s former use. Recent improvements include a newly constructed rear deck spanning all three levels, two HVAC systems separately servicing the apartment and retail spaces, a full-building sprinkler system, and a sump pump installation for the basement area, along with custom exterior doors on both the upper and main levels.
For parking and access, the property offers ample parking including public street parking along Main Street and a private rear parking lot with a carport.
A basement level is accessible from the rear entrance and retains historical items associated with the building’s former use. Recent improvements include a newly constructed rear deck spanning all three levels, two HVAC systems separately servicing the apartment and retail spaces, a full-building sprinkler system, and a sump pump installation for the basement area, along with custom exterior doors on both the upper and main levels.
For parking and access, the property offers ample parking including public street parking along Main Street and a private rear parking lot with a carport.
Key Highlights
- 1950 multi‑level mixed‑use building in historic Walhalla with separate private entrances for three floors
- Upper level apartment is currently leased and includes both front and rear entrances
- Main Street retail level has direct front frontage and entrance plus an additional rear entrance for access
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
$24,912
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
6.56%
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%
$498,240
$498.2K
Cap Rate 7%
$355,886
$355.9K
Cap Rate 9%
$276,800
$276.8K
Market Conditions
NOI Build-Up for 1,950 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
$39.1K $20.04/SF
− Vacancy
−$5.9K −$3.01/SF
EGI
$33.2K $17.03/SF
− OpEx
−$8.3K −$4.26/SF
NOI
$24.9K $12.78/SF
Area
Oconee County, SC
Vacancy
15.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$498,240
Cap Rate 7%
$355,886
Cap Rate 9%
$276,800
Alternative Uses
Best Use
Office B
$355.9K
$311.4K – $415.2K
NOI $24,912 @ 7.0% cap · market cap 6.56%
Second Best
Retail
$338.4K
$296.1K – $394.8K
NOI $23,685 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$489.5K
$428.3K – $571.1K
NOI $34,265 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 29691, SC
11,142
Population
5,518
Households
2
Avg Household Size
41
Median Age
18%
College-Educated
82%
High-School Grad
62.2 sq mi
ZIP Area
179
Density / Sq Mi
$52,722
Median Household Income
$35,164
Median Earnings
$792
Median Rent
$179,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Multi-level building offers a leased apartment and a street-level retail level with separate entrances and dedicated rear parking.
Where is this live-work space located?
The property is located at 103 E Main Street Walhalla, SC.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 1950 multi‑level mixed‑use building in historic Walhalla with separate private entrances for three floors; Upper level apartment is currently leased and includes both front and rear entrances; Main Street retail level has direct front frontage and entrance plus an additional rear entrance for access
