Anchored Retail Center For
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1100 - 1132 Mack Street, Gaston, SC 29053
Anchored retail center with long-term tenants and strong growth potential.
Property Size18,700 SF
Price / SF$127.01
Days on Market230
Property Features for 1100 - 1132 Mack Street
General Information
Standard status
Active
Size
18,700 SF
Property subtype
Retail
Occupancy
100%
Building Details
Year Built
1995
Year Renovated
2005
Units
9
Tenancy
Multi
Listing Agency:
NAI Columbia
(803) 254-0100
Listed By:
Bobby Balboni · License #SC 113453
Source:
Crexi
Added: Jan 5
Changed: Aug 12
Last Checked: Aug 23 at 4:05AM
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 NAI Columbia
Investment Insights
Based on property information with market context.
This retail center is anchored by Dollar Tree, a Fortune 500 company. Dollar Tree has been a key tenant for more than 10 years, and their recent exercise of a renewal option demonstrates their long-term commitment. The property is strategically positioned near several significant residential developments that are driving rapid population growth in the Gaston submarket. The area is benefiting from a surge in new single-family development announcements, including the 198-unit Valley Crest subdivision, the 119-unit Tera Pines subdivision, and a proposed 318- unit single-family community. The center provides consumer accessibility with three dedicated points of ingress and egress, allowing for smooth traffic flow and convenient entry from multiple directions. The tenant mix is comprised primarily of necessity goods and essential-service providers, mitigating exposure to e-commerce–related risk. Retail categories within the center such as groceries, medical services, pharmacies, personal care, occupy nearly 87% of the center. The center benefits from minimal direct retail competition within the town limits of Gaston, positioning it as a premier shopping destination for both existing and incoming residents. The property size is 18700 square feet.
Key Highlights
- National credit anchor: Anchored by Dollar Tree (NYSE: DLTR), a Fortune 500 company, providing strong brand recognition and reliable traffic.
- Growing submarket: Strategically positioned near significant residential developments driving rapid population growth.
- Minimal shopping center competition: Premier shopping destination due to minimal direct retail competition within Gaston.
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
$188,300
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
7.93%
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%
$3,766,000
$3.8M
Cap Rate 7%
$2,690,000
$2.7M
Cap Rate 9%
$2,092,222
$2.1M
Market Conditions
NOI Build-Up for 18,700 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
$280.5K $15.00/SF
− Vacancy
−$11.5K −$0.61/SF
EGI
$269.0K $14.39/SF
− OpEx
−$80.7K −$4.32/SF
NOI
$188.3K $10.07/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$15.00 /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%
$3,766,000
Cap Rate 7%
$2,690,000
Cap Rate 9%
$2,092,222
Alternative Uses
Best Use
Retail
$2.69M
$2.35M – $3.14M
NOI $188,300 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.02M
$4.39M – $5.86M
NOI $351,559 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29053, SC
19,239
Population
8,787
Households
2.2
Avg Household Size
38
Median Age
12%
College-Educated
81%
High-School Grad
80.4 sq mi
ZIP Area
239
Density / Sq Mi
$54,141
Median Household Income
$35,953
Median Earnings
$947
Median Rent
$116,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Anchored retail center with long-term tenants and strong growth potential.
Where is this shopping center located?
The property is located at 1100 - 1132 Mack Street Gaston, SC.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: National credit anchor: Anchored by Dollar Tree (NYSE: DLTR), a Fortune 500 company, providing strong brand recognition and reliable traffic.; Growing submarket: Strategically positioned near significant residential developments driving rapid population growth.; Minimal shopping center competition: Premier shopping destination due to minimal direct retail competition within Gaston.
