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    Laurens Retail Space Available Title is generated by Realmo AI

    108 Fleming Street, Laurens, SC 29360

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    For Lease
    $12 SF/Yr

    Suite Size: ± 5,000 sqft, can be combined, for a total of ±11,000 sqft

    Added:
    Jan 21, 2025
    Days on Market:
    486
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 108 Fleming Street

    General Information

    Standard status
    Active
    Property type
    Other retail properties, Individual retail properties, Other office properties, Retail properties & Spaces, Office Spaces
    Elevators
    N/A
    Lease Type
    NNN
    Lease Term
    Long Term
    Rate Type
    Yearly

    Building Details

    Buildings
    2
    Stories
    1

    We can help!

    Listing Contact
    Ellice Niedrach

    Listing agent Ellice

    Listing office

    Listing date Jan 21, 2025

    HighLights

    • Suite Size: ±5,000 sqft
    • Two (2) Restrooms
    • Delivered as vanilla shell
    • Ceiling clearance: ± 12'
    • Total Building Size: ± 30,925 sqft
    • Ample parking
    • Great access
    • ± 650 ft of road frontage on Fleming Street
    • High visibility
    • New roof (2024)
    • Located at the signalized intersection of Fleming St and Hwy 221
    • Situated beside Little River Walking Trail
    • Traffic Counts:
    • ±10,800 VPD on Fleming Street
    • ± 12,700 VPD on Hwy 221
    • Rapidly growing market
    • Suites can be combined, for a total of ±11,000 sqft
    • Signage

    Overview

    This retail space in Laurens, South Carolina, offers approximately 11,000 square feet of leasable space. Individual suites of approximately 5,000 square feet each are available and can be combined to accommodate larger tenants. The property is situated on a 7.31-acre lot with approximately 650 feet of road frontage on Fleming Street, providing high visibility at the signalized intersection of Fleming Street and Highway 221. Ample parking and convenient access are available, with the property located beside the Little River Walking Trail. The location benefits from significant traffic counts, with approximately 10,800 vehicles per day on Fleming Street and 12,700 vehicles per day on Highway 221. The building, part of a larger building totaling approximately 30,925 square feet, features a new roof (2024), approximately 12-foot ceiling clearance, and two restrooms. The space is delivered as a vanilla shell, allowing for tenant customization. Signage opportunities are available. NNN lease, long-term options available. Annual lease rate is $12 per square foot.
    Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Laurens
    County
    Laurens
    State
    South Carolina
    Longitude
    -82.0542
    Latitude
    34.4899

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    FAQs

    What type of property is this?
    Other retail property - Suite Size: ± 5,000 sqft, can be combined, for a total of ±11,000 sqft
    Where is this other retail property located?
    The property is located at 108 Fleming Street Laurens, SC.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Suite Size: ±5,000 sqft; Two (2) Restrooms; Delivered as vanilla shell
    (864) 680-7916
    We can help!
    Listing Contact
    Ellice Niedrach
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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