Flex Space with
New
For Sale
$875,000
107 Evening Way, Mauldin, SC 29662
Heated and cooled showroom and warehouse areas share one building.
Property Size4,982 SF
Lot Size0.52 Acres
Price / SF$175.63
Days on Market2
Property Features for 107 Evening Way
General Information
Standard status
Active
Size
4,982 SF
Lot size
0.52 Acres
Property subtype
Retail
Warehouse & Industrial
Warehouse Space
1,793 SF
Power
200 amps
Conditioned Warehouse
Yes
Building Details
Building Size
4,982 SF
Buildings
1
Listing Agency:
Reedy Commercial
Listed By:
Carl Hocker
(864) 680-7654
Source:
Reedycommercial
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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 Reedy Commercial
Investment Insights
Based on property information with market context.
This flex property in Mauldin, South Carolina, combines approximately 3,198 SF of retail and showroom area with 1,793 SF of warehouse space. The building is fully heated and cooled and includes a roll-up door, a double-wide access door, and 100-amp and 200-amp electrical service. Ceiling heights include 10 feet in the main retail area, with an eave height of 12 feet and a center height of 14 feet. The property occupies approximately 0.52 acres.
Key Highlights
- Approximately 3,198 SF of retail/showroom area and 1,793 SF of warehouse space
- Fully heated and cooled throughout
- Roll‑up door and double‑wide access door
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
$73,826
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
8.44%
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%
$1,476,520
$1.5M
Cap Rate 7%
$1,054,657
$1.1M
Cap Rate 9%
$820,289
$820.3K
Market Conditions
NOI Build-Up for 4,982 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
$109.4K $21.96/SF
− Vacancy
−$3.9K −$0.79/SF
EGI
$105.5K $21.17/SF
− OpEx
−$31.6K −$6.35/SF
NOI
$73.8K $14.82/SF
Area
Greenville County, SC
Vacancy
3.60%
Lease Rate
$21.96 /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%
$1,476,520
Cap Rate 7%
$1,054,657
Cap Rate 9%
$820,289
Alternative Uses
Best Use
Retail
$1.05M
$922.8K – $1.23M
NOI $73,826 @ 7.0% cap · market cap 8.44%
Second Best
Warehouse
$333.0K
$291.4K – $388.6K
NOI $23,313 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $149,003 @ 7.0% cap · market cap 17.03%
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
896
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29662, SC
14,812
Population
6,512
Households
2.3
Avg Household Size
39
Median Age
35%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
2,693
Density / Sq Mi
$80,594
Median Household Income
$50,269
Median Earnings
$1,342
Median Rent
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Tropical Grille — 108 N Main St, Mauldin, SC 29662
- The Pig BBQ & Catering — 109 S Main St, Mauldin, SC 29662
- Elia's Kitchen — 339 Miller Rd suite a, Mauldin, SC 29662
Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled showroom and warehouse areas share one building.
Where is this flex space located?
The property is located at 107 Evening Way Mauldin, SC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Approximately 3,198 SF of retail/showroom area and 1,793 SF of warehouse space; Fully heated and cooled throughout; Roll‑up door and double‑wide access door
