Flex Space with Loading
For Sale
$245,000
109 E Main St., Andrews, SC 29510
COMMERCIAL/INDUSTRIAL, Andrews, SC
Property Size3,500 SF
Lot Size0.27 Acres
Price / SF$68.45
Days on Market140
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
Floors in Building
2
Number of units
1
Listing Agency:
Tidewater Properties · Tucker Associates
(843) 833-1362
Listed By:
Robert McCants · License #106295
(803) 478-4509
Added: May 6
Changed: Aug 19
Last Checked: Sep 22 at 9:06PM
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 commercial flex property at 109 E Main St. provides 3,579 square feet of adaptable space in a downtown setting. The layout includes a front office, substantial storage areas, and a loading dock that supports receiving and dispatch functions. The building is currently used by a cleaning business and may accommodate warehouse, light industrial, or service-oriented operations subject to appropriate approvals.
The property is in Andrews, with entry and exit access and on-site parking. Georgetown is approximately 20 minutes away, while Myrtle Beach is about one hour by drive. Commercial zoning further supports evaluation for a range of business uses, subject to applicable approvals.
The property is in Andrews, with entry and exit access and on-site parking. Georgetown is approximately 20 minutes away, while Myrtle Beach is about one hour by drive. Commercial zoning further supports evaluation for a range of business uses, subject to applicable approvals.
Key Highlights
- 3,579‑square‑foot commercial flex building
- Commercial zoning in downtown Andrews
- Front office, extensive storage, and functional loading dock
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
Flex RnD
$489.0K
$427.9K – $570.6K
NOI $34,233 @ 7.0% cap · market cap 13.97%
Second Best
Warehouse
$374.9K
$328.1K – $437.4K
NOI $26,244 @ 7.0% cap · market cap 10.71%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
268
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
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
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 facility with office, storage, loading, and parking components for service or warehouse operations.
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: 3,579‑square‑foot commercial flex building; Commercial zoning in downtown Andrews; Front office, extensive storage, and functional loading dock
