Historic Restaurant Space in
For Sale
$2,250,000
116 W Orr St, Anderson, SC 29625
Turnkey restaurant in historic downtown Anderson with outdoor dining.
Property Size5,000 SF
Lot Size0.38 Acres
Price / SF$450
Days on Market429
Property Features for 116 W Orr St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.38 Acres
Listing Agency:
Carithers Real Estate
(864) 934-2535
Listed By:
John Benca · License #83730
(864) 934-2535
Source:
Exprealty
Added: Jun 3, 2025
Changed: Jul 6
Last Checked: Jul 31 at 2:39PM
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 Carithers Real Estate
Investment Insights
Based on property information with market context.
This 5,000-square-foot restaurant space, formerly a car dealership since 1930, is located in historic downtown Anderson. The renovated full-service restaurant is turnkey and ready for occupancy. It features triple access from Murray Ave, Main St, and Orr St, with four city parking lots available for customer convenience. The property includes a spacious covered outdoor dining area and private parking. The property is positioned to benefit from ongoing city center development and rising real estate values.
Key Highlights
- Prime real estate in historic downtown Anderson, experiencing increased property values due to city center development.
- Turnkey, fully renovated 5,000 sq ft restaurant space ready for immediate occupancy.
- Triple access points from Murray Ave, Main St, and Orr St.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.0k | $18.00 |
| − Vacancy | −$3.2k | −$0.65 |
| EGI | $86.8k | $17.35 |
| − OpEx | −$21.7k | −$4.34 |
| NOI | $65.1k | $13.01 |
5,000 SF · lease $18.00/SF/yr · vacancy 3.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$929.6K
$813.4K – $1.08M
NOI $65,070 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$54.14M
$47.37M – $63.16M
NOI $3,789,513 @ 7.0% cap · market cap 168.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 29625, SC
28,521
Population
13,716
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
46.9 sq mi
ZIP Area
608
Density / Sq Mi
$58,746
Median Household Income
$36,120
Median Earnings
$1,015
Median Rent
$210,100
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?
Turn key restaurant - Turnkey restaurant in historic downtown Anderson with outdoor dining.
Where is this turn key restaurant located?
The property is located at 116 W Orr St Anderson, SC.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Prime real estate in historic downtown Anderson, experiencing increased property values due to city center development.; Turnkey, **fully renovated 5,000 sq ft restaurant space ready for immediate occupancy.**; Triple access points from Murray Ave, Main St, and Orr St.
