Retail Property with Wraparound
New
For Sale
$549,000
108 Main Street, Pelzer, SC 29680
Commercial/Industrial, Pelzer, SC
Property Size2,200 SF
Lot Size2.00 Acres
Price / SF$249.55
Days on Market1
Property Features for 108 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
unzoned
Subdivision
052
Standard status
Active
APN
2430003014000
Lot size
2.00 Acres
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
mature pecan trees
generous grounds
sidewalks
wraparound porch
multiple fireplaces
Building Details
Flooring type
Linoleum, Wood
Building materials
Frame
Roof type
Aluminum
Listing Agency:
Griffith Real Estate Advisors
(864) 616-0791
Listed By:
Katina Shirley · License #94785
(864) 423-3553
Added: Sep 30
Last Checked: Sep 30 at 4:06PM
MLS# 1605336
Copyright © 2026 Greater Greenville 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.
The property includes a circa-1917 frame building with approximately 2,200 square feet, high ceilings, generous rooms, original architectural details, multiple fireplaces and a wraparound porch. A renovated guest house adds a full kitchen, bathroom and laundry. Several garages, barns and storage areas are also on site, along with mature pecan trees and broad grounds. The main building’s character and the additional spaces provide options for a range of commercial uses, including office, salon, studio or hospitality concepts.
Located along the SC Highway 8 and Main Street corridor in West Pelzer, the property has approximately 9,300 vehicles per day traveling the surrounding corridor. It is 4 miles from I-85, 17 miles from downtown Greenville and 30 minutes from Clemson. Sidewalks and room for future parking or site improvements are also noted.
Located along the SC Highway 8 and Main Street corridor in West Pelzer, the property has approximately 9,300 vehicles per day traveling the surrounding corridor. It is 4 miles from I-85, 17 miles from downtown Greenville and 30 minutes from Clemson. Sidewalks and room for future parking or site improvements are also noted.
Key Highlights
- Circa‑1917 frame building with approximately 2,200 square feet
- Renovated guest house includes a full kitchen, bath and laundry
- Multiple garages, barns and storage areas
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
$32,601
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
5.94%
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%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 2,200 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
$48.3K $21.96/SF
− Vacancy
−$1.7K −$0.79/SF
EGI
$46.6K $21.17/SF
− OpEx
−$14.0K −$6.35/SF
NOI
$32.6K $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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Retail
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$940.0K
$822.5K – $1.10M
NOI $65,798 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9,300 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 29680, SC
34,784
Population
13,858
Households
2.5
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
29.1 sq mi
ZIP Area
1,195
Density / Sq Mi
$85,143
Median Household Income
$47,669
Median Earnings
$1,473
Median Rent
$279,200
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A renovated guest house and several outbuildings add flexible space to this Main Street commercial property.
Where is this retail space located?
The property is located at 108 Main Street Pelzer, SC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Circa‑1917 frame building with approximately 2,200 square feet; Renovated guest house includes a full kitchen, bath and laundry; Multiple garages, barns and storage areas
