Flex Space With Loading
For Sale
$245,000
109 E Main St., Andrews, SC 29510
COMMERCIAL - Andrews, SC
Property Size3,500 SF
Lot Size0.27 Acres
Price / SF$68.45
Days on Market95
Property Features for 109 E Main St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
54A Andrews Are--includes city of Andrews
Standard status
Active
Size
3,579 SF
Lot size
0.27 Acres
Building Details
Number of units
1
Listing Agency:
Tidewater Properties · Tucker Associates
(843) 833-1362
Listed By:
Robert McCants · License #106295
(843) 833-1362
Added: May 6
Changed: Aug 4
Last Checked: Aug 8 at 12:06PM
MLS# 2611733
Copyright © 2026 Coastal Carolina 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.
This commercially zoned flex property at 109 E Main St. includes a front office, extensive storage areas, a functional loading dock, and on-site parking. The building currently houses a cleaning business and offers straightforward entry and exit for daily operations. Use changes remain subject to appropriate approvals.
The property is located downtown in Andrews, approximately 20 minutes from Georgetown and 1 hour from Myrtle Beach. Its 0.27-acre site provides a compact commercial setting for warehouse, light industrial, or service-oriented operations, subject to applicable approvals.
The property is located downtown in Andrews, approximately 20 minutes from Georgetown and 1 hour from Myrtle Beach. Its 0.27-acre site provides a compact commercial setting for warehouse, light industrial, or service-oriented operations, subject to applicable approvals.
Key Highlights
- Commercial zoning at 109 E Main St., Andrews, SC 29510
- Functional loading dock with easy building entry and exit
- Front office paired with extensive storage capacity
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
$22,135
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
9.03%
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%
$442,700
$442.7K
Cap Rate 7%
$316,214
$316.2K
Cap Rate 9%
$245,944
$245.9K
Market Conditions
NOI Build-Up for 3,579 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
$33.9K $9.48/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$31.6K $8.84/SF
− OpEx
−$9.5K −$2.65/SF
NOI
$22.1K $6.18/SF
Area
Georgetown County, SC
Vacancy
6.80%
Lease Rate
$9.48 /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%
$442,700
Cap Rate 7%
$316,214
Cap Rate 9%
$245,944
Alternative Uses
Best Use
Office B
$717.8K
$628.1K – $837.5K
NOI $50,249 @ 7.0% cap · market cap 20.51%
Second Best
Flex RnD
$489.0K
$427.9K – $570.6K
NOI $34,233 @ 7.0% cap · market cap 13.97%
Theoretical Best
Office A
$981.7K
$859.0K – $1.15M
NOI $68,717 @ 7.0% cap · market cap 28.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29510, SC
10,392
Population
4,310
Households
2.4
Avg Household Size
43
Median Age
11%
College-Educated
85%
High-School Grad
312.2 sq mi
ZIP Area
33
Density / Sq Mi
$46,768
Median Household Income
$29,849
Median Earnings
$744
Median Rent
$109,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned building with front office, substantial storage, loading access, and on-site parking.
Where is this flex space located?
The property is located at 109 E Main St. Andrews, SC.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Commercial zoning at 109 E Main St., Andrews, SC 29510; Functional loading dock with easy building entry and exit; Front office paired with extensive storage capacity
