Storefront Building with Rear
For Sale
$247,000
105 W Main St, Lake City, SC 29560
Storefront building with flexible interior space, tin ceilings, and a rear lot that supports parking and future expansion.
Property Size2,425 SF
Lot Size0.50 Acres
Price / SF$101.86
Days on Market108
Property Features for 105 W Main St
General Information
Standard status
Active
Size
2,425 SF
Lot size
0.50 Acres
Amenities
2 bathrooms
beautiful tin ceilings
rear lot offering valuable parking
Building Details
Year Renovated
2025
Buildings
1
Listing Agency:
Epps Miles Eaddy Realty Inc
Listed By:
Karon Epps · License #9411
(843) 373-2164
Source:
Exprealty
Added: Jun 2
Changed: Sep 8
Last Checked: Sep 16 at 10:04PM
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 Epps Miles Eaddy Realty Inc
Investment Insights
Based on property information with market context.
This storefront commercial building offers flexible space for retail, office, event, hospitality, or mixed-use development, with 2 bathrooms and distinctive tin ceilings. The property includes a rear lot suitable for parking, possible expansion or storage, or development, and it sits on .50+/- acres.
The building is positioned for strong Main Street visibility in downtown Lake City. Reported building improvements include a metal roof installed in 2011, rewired electrical in 2016, and facade and windows updated in 2025. The listing notes that 105 W Main will need the City of Lake City to install a water meter for that space.
There are additional sale terms to be aware of: Jewelry Creations will relocate when the property is sold, and the purchaser will sign a non-compete for a jewelry store. The two sets of vault doors will not convey.
The building is positioned for strong Main Street visibility in downtown Lake City. Reported building improvements include a metal roof installed in 2011, rewired electrical in 2016, and facade and windows updated in 2025. The listing notes that 105 W Main will need the City of Lake City to install a water meter for that space.
There are additional sale terms to be aware of: Jewelry Creations will relocate when the property is sold, and the purchaser will sign a non-compete for a jewelry store. The two sets of vault doors will not convey.
Key Highlights
- Flexible space for retail, office, event, hospitality, or mixed‑use development
- 2 bathrooms and distinctive tin ceilings
- Building located on .50+/- acres with an approximately half‑acre rear lot for parking, storage, expansion, or development
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
$17,378
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
7.04%
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%
$347,560
$347.6K
Cap Rate 7%
$248,257
$248.3K
Cap Rate 9%
$193,089
$193.1K
Market Conditions
NOI Build-Up for 2,425 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
$27.6K $11.40/SF
− Vacancy
−$2.8K −$1.16/SF
EGI
$24.8K $10.24/SF
− OpEx
−$7.4K −$3.07/SF
NOI
$17.4K $7.17/SF
Area
Florence County, SC
Vacancy
10.20%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
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%
$347,560
Cap Rate 7%
$248,257
Cap Rate 9%
$193,089
Alternative Uses
Best Use
Retail
$248.3K
$217.2K – $289.6K
NOI $17,378 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$357.5K
$312.8K – $417.1K
NOI $25,026 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
22k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Home Improvements & Furnishings 36%
Apparel 17%
Dollar Tree
Shops & Services
9,406 visits/mo
0.4 miles
Simpson Lake City Hardware Inc
Home Improvements & Furnishings
7,592 visits/mo
0.3 miles
Hibbett Sports
Apparel
3,696 visits/mo
0.5 miles
Enterprise Rent-A-Car
Shops & Services
602 visits/mo
0.1 miles
Badcock Home Furniture & More
Home Improvements & Furnishings
228 visits/mo
0.3 miles
Demographics for 29560, SC
12,668
Population
6,236
Households
2
Avg Household Size
41
Median Age
19%
College-Educated
86%
High-School Grad
164.9 sq mi
ZIP Area
77
Density / Sq Mi
$45,421
Median Household Income
$31,681
Median Earnings
$702
Median Rent
$108,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront building with flexible interior space, tin ceilings, and a rear lot that supports parking and future expansion.
Where is this storefront property located?
The property is located at 105 W Main St Lake City, SC.
What is the asking price?
The asking price for this property is $247,000.
What are key features of this property?
This property features: Flexible space for retail, office, event, hospitality, or mixed‑use development; 2 bathrooms and distinctive tin ceilings; Building located on .50+/- acres with an approximately half‑acre rear lot for parking, storage, expansion, or development
