Downtown Commercial Building in
For Sale
$245,000
109 E Main St, Andrews, SC 29510
3,500 square foot commercial building with potential in Andrews, SC.
Property Size3,579 SF
Price / SF$68.45
Days on Market114
Property Features for 109 E Main St
General Information
Standard status
Active
Size
3,579 SF
Listing Agency:
Tidewater Properties
(843) 833-1362
Listed By:
Robert McCants · License #106295
(843) 833-1362
Source:
Exprealty
Added: May 6
Changed: Aug 20
Last Checked: Aug 26 at 10:46AM
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 Tidewater Properties
Investment Insights
Based on property information with market context.
Located in downtown Andrews, this commercial building offers 3,500 square feet of space with potential for various business ventures, subject to approvals. Currently housing a cleaning business, the property features a front office, extensive storage, and a loading dock. Easy access and ample parking are available. The property is approximately 20 minutes from Georgetown and 1 hour from Myrtle Beach. Suitable for warehouse, light industrial, or service-oriented businesses, the property provides flexibility for growth.
Key Highlights
- 3,500 sq ft commercial building with tons of potential.
- Functional loading dock for smooth operations.
- 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
Retail
$612.0K
$535.5K – $714.0K
NOI $42,841 @ 7.0% cap · market cap 17.49%
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
Property Profile
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
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?
Warehouse - 3,500 square foot commercial building with potential in Andrews, SC.
Where is this warehouse 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: 3,500 sq ft commercial building with tons of potential.; Functional loading dock for smooth operations.; Extensive storage capacity.
