Versatile Fort Mill Commercial
For Sale
Contact for pricing
Pending
11632 Harrisburg Rd, Fort Mill, SC 29707
92,926 SF mixed-use property near Ballantyne with expansion potential.
Property Size92,926 SF
Lot Size31.89 Acres
Days on Market338
Property Features for 11632 Harrisburg Rd
General Information
Standard status
Pending
Size
92,926 SF
Class
A
Total Parking Spaces
100
Lot size
31.89 Acres
Property subtype
Industrial, Mixed Use, Office, Self Storage, Special Purpose
Zoning
L1
Investment Type
Owner/User
Building Details
Year Built
2000
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Park Commercial Real Estate
(704) 218-9204
Listed By:
Charlie Swanson Jr. · License #79246
Source:
Crexi
Added: Sep 8, 2025
Changed: Aug 8
Last Checked: Jul 24 at 6:22PM
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 Park Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 11632 Harrisburg Rd in Fort Mill, SC, this 92,926 SF mixed-use property offers a versatile space for various commercial endeavors. The building features precast concrete panel construction and is situated on 31.89 acres. The property is zoned L1 in Lancaster County, SC. The layout includes 18,000 SF of office space, 52,426 SF of flex space, and 22,500 SF of warehouse space, with the ability to expand the building. The warehouse area boasts a 28’ clearance height. It is equipped with one passenger elevator and two heavy-duty freight elevators. Power infrastructure includes 1,600+ amps and a full building generator. The entire building is equipped with HVAC. There are four dock-high doors, two of which have dock levelers and seals, along with an oversized drive-in door. Parking includes 100+ existing spaces with room for expansion. The property is located just across the state line, approximately 2 miles from Ballantyne and I-485, 4 miles from downtown Fort Mill, and 3.5 miles from Carowinds on I-77. A Comporium cell tower on the property provides approximately $23k in annual income, with the lease expiring in April 2029. The owner has access rights at 120’ height.
Key Highlights
- Large Acreage: 31.89 AC in Lancaster County, SC with L1 Zoning
- Substantial Building Size: 92,926 SF Total with Expansion Potential
- Excellent Location: Close proximity to Ballantyne/I‑485, Fort Mill, and I‑77/Carowinds
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
$1,009,503
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
8.69%
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%
$20,190,060
$20.2M
Cap Rate 7%
$14,421,471
$14.4M
Cap Rate 9%
$11,216,700
$11.2M
Market Conditions
NOI Build-Up for 92,926 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
$1.33M $14.28/SF
− Vacancy
−$139.3K −$1.50/SF
EGI
$1.19M $12.78/SF
− OpEx
−$178.1K −$1.92/SF
NOI
$1.01M $10.86/SF
Area
York County, SC
Vacancy
10.50%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$20,190,060
Cap Rate 7%
$14,421,471
Cap Rate 9%
$11,216,700
Alternative Uses
Best Use
Office B
$17.69M
$15.48M – $20.64M
NOI $1,238,159 @ 7.0% cap · market cap 10.66%
Second Best
Flex RnD
$15.48M
$13.54M – $18.06M
NOI $1,083,356 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$21.85M
$19.12M – $25.49M
NOI $1,529,675 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 29707, SC
32,759
Population
15,156
Households
2.2
Avg Household Size
44
Median Age
51%
College-Educated
95%
High-School Grad
28.5 sq mi
ZIP Area
1,149
Density / Sq Mi
$117,609
Median Household Income
$66,540
Median Earnings
$1,687
Median Rent
$439,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - 92,926 SF mixed-use property near Ballantyne with expansion potential.
Where is this mixed-use property located?
The property is located at 11632 Harrisburg Rd Fort Mill, SC.
What is the asking price?
The asking price for this property is $11,615,750.
What are key features of this property?
This property features: Large Acreage: 31.89 AC in Lancaster County, SC with L1 Zoning; Substantial Building Size: 92,926 SF Total with Expansion Potential; Excellent Location: Close proximity to Ballantyne/I‑485, Fort Mill, and I‑77/Carowinds
