Restaurant Space with Covered
116 W Orr Street, Anderson, SC 29625
For Sale
$2,250,000
Renovated full-service premises pair indoor dining with a covered outdoor area.
Property Size5,000 SF
Price / SF$450
Days on Market524
Property Features for 116 W Orr Street
General Information
Standard status
Size
Property subtype
Additional Details
Road Access
Patio
Taxes and HOA fees
Annual Taxes
Amenities
Fence
Landscaping
Building Details
Year Built
Stories
Listing Agency:
Carithers Real Estate
(864) 224-7901
Listed By:
John Benca · License #83730
(864) 934-2535
Source:
Cherokeefoothillsrealty
Added: Jun 3, 2025
Changed: Nov 7
Last Checked: Nov 7 at 1:52AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,000-square-foot restaurant property was built in 1930 and has since been renovated. The full-service space includes a covered area for outdoor dining and private parking. It previously operated as a car dealership before its restaurant use.
The property has access from Murray Avenue, Main Street, and Orr Street. Four city parking lots are also available for customer parking.
The property has access from Murray Avenue, Main Street, and Orr Street. Four city parking lots are also available for customer parking.
Key Highlights
- 5,000‑square‑foot restaurant property
- Built in 1930 and renovated
- Covered outdoor dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,070
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,400
$1.3M
Cap Rate 7%
$929,571
$929.6K
Cap Rate 9%
$723,000
$723.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$90.0K $18.00/SF
− Vacancy
−$3.2K −$0.65/SF
EGI
$86.8K $17.35/SF
− OpEx
−$21.7K −$4.34/SF
NOI
$65.1K $13.01/SF
Area
Anderson County, SC
Vacancy
3.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,301,400
Cap Rate 7%
$929,571
Cap Rate 9%
$723,000
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated full-service premises pair indoor dining with a covered outdoor area.
Where is this conventional restaurant located?
The property is located at 116 W Orr Street 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: 5,000‑square‑foot restaurant property; Built in 1930 and renovated; Covered outdoor dining area
