Downtown Chapin Commercial Space
For Sale
$400,000
104 East Boundary Street, Chapin, SC 29036
Commercial space suitable for various businesses in downtown Chapin, SC.
Property Size1,410 SF
Price / SF$283.69
Days on Market322
Property Features for 104 East Boundary Street
General Information
Standard status
Active
Size
1,410 SF
Total Parking Spaces
5
Property subtype
Business Opportunities
Zoning
COM
Building Details
Building Size
1,410 SF
Year Built
1930
Listing Agency:
RE/MAX
(803) 920-4913
Listed By:
Gina Breland · License #79245
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 11 at 4:39AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 1410-square-foot commercial space is located in downtown Chapin, South Carolina, near Interstate 26. The property is suitable for a variety of businesses, including a doctor's office, massage studio, yoga studio, hair salon, nail salon, therapist office, or insurance office. Parking spaces are located behind the building. The property is located off Columbia Avenue to East Boundary Street.
Key Highlights
- Prime location in the heart of downtown Chapin, SC.
- Versatile space suitable for various business types (doctor's office, salon, studio, etc.).
- Convenient access to Interstate 26.
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
$18,906
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
4.73%
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%
$378,120
$378.1K
Cap Rate 7%
$270,086
$270.1K
Cap Rate 9%
$210,067
$210.1K
Market Conditions
NOI Build-Up for 1,410 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
$26.9K $19.08/SF
− Vacancy
−$1.7K −$1.20/SF
EGI
$25.2K $17.88/SF
− OpEx
−$6.3K −$4.47/SF
NOI
$18.9K $13.41/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
25.00%
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%
$378,120
Cap Rate 7%
$270,086
Cap Rate 9%
$210,067
Alternative Uses
Best Use
Office B
$270.1K
$236.3K – $315.1K
NOI $18,906 @ 7.0% cap · market cap 4.73%
Second Best
Healthcare Medical
$216.1K
$189.1K – $252.1K
NOI $15,125 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$378.7K
$331.4K – $441.8K
NOI $26,508 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29036, SC
27,047
Population
10,910
Households
2.5
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
55.1 sq mi
ZIP Area
491
Density / Sq Mi
$116,438
Median Household Income
$62,787
Median Earnings
$1,901
Median Rent
$378,100
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial space suitable for various businesses in downtown Chapin, SC.
Where is this medical office space located?
The property is located at 104 East Boundary Street Chapin, SC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime location in the heart of downtown Chapin, SC.; Versatile space suitable for various business types (doctor's office, salon, studio, etc.).; Convenient access to Interstate 26.
