Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    309 N Main St Lancaster, SC 29720

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Functional office space with recent renovations and convenient location.

    Property Features for 309 N Main St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Dena Espinoza
    Source: Corcoran

    Listing Agency: JEFF COOK REAL ESTATE LPT REALTY Listing Agent: Dena Espinoza

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Commercial Space For Sale

    This versatile commercial space is suitable for general office or medical office use. The property, formerly a residential home, has been converted into a functional office featuring multiple private offices, a conference room, a break room, a kitchen, and a bathroom. The layout is designed for productivity and comfort, with ample storage space. Renovations completed in 2023 include new flooring, sheetrock, HVAC, a commercial water heater, and updates to plumbing, electrical, and windows. Parking is available for 5-6 cars. A front porch enhances the curb appeal. The property is located close to restaurants, banking, and other local businesses. The property is currently leased at $1,700/month with 2 years remaining.
    Location Intelligence

    Current Use by Public Records

    Garver Homes Construction Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    South Carolina
    Longitude
    -80.771856
    Latitude
    34.7229

    Nearby Similar for Sale

    • $975,000
      0.82 Acres

      Two Professional Buildings Near MUSC

      Two professional office buildings near MUSC in Lancaster, South Carolina.
      1201 Colonial Cmns Ct, Lancaster, SC 29720
      View Details
    • $799,900
      39.80 Acres

      Lancaster Farmland with Barn

      39.8 acres of rolling farmland with barn and ponds.
      992 S Potter Rd, Lancaster, SC 29720
      View Details
    • $975,000

      Medical Office Buildings Near MUSC

      Two professional buildings suitable for medical or office use.
      1201 Colonial Commons Ct, Lancaster, SC 29720
      View Details
    • $325,000
      3,400 SF

      Lancaster Light Industrial Facility

      3,400 SF facility on 2 acres near Rock Hill.
      1537 Lynwood Dr, Lancaster, SC 29720
      View Details
    • $1,100,000
      8,482 SF

      Two Professional Buildings Near MUSC

      Two professional buildings on one property near the Medical University.
      1201-1203 Colonial Commons Ct, Lancaster, SC 29720
      View Details
    • Contact for pricing
      20,606 SF

      Mixed-Use Investment Opportunity

      Multi-tenant property with retail, office, industrial, and storage units.
      979-987 University Dr, Lancaster, SC 29720
      View Details
    • Contact for pricing
      1,653 SF

      Commercial Building with Fenced Parking

      Commercial building with open area, offices, and parking.
      305 E Arch St, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Lancaster Convenience Store Opportunity

      Turnkey convenience store for sale with building, land, and inventory.
      715 S Market St, Lancaster, SC 29720
      View Details
    • $450,000

      Mixed-Use Commercial Property For Sale

      Four buildings with six potential rental opportunities on 1.6 acres.
      2415 Pineview Dr, Lancaster, SC 29720
      View Details
    • $550,000

      Retail Buildings For Sale

      Two commercial buildings for sale in a growing area.
      1317 Highway 9 Byp W, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Lancaster Investment Property for Sale

      Mobile home park investment opportunity in Lancaster, South Carolina.
      00 Lynwood Dr, Lancaster, SC 29720
      View Details
    • $3,200,000
      9,398 SF

      Thriving Child Development Center

      Child development center with two buildings and outdoor playground.
      1699 N Rocky River Rd, Lancaster, SC 29720
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Functional office space with recent renovations and convenient location.
    Where is this medical office space located?
    The property is located at 309 N Main St Lancaster, SC.
    What are key features of this property?
    This property features: - Extensively renovated in 2023 with new flooring, sheetrock, HVAC, commercial water heater, plumbing, electrical, and windows.; - Currently leased at $1,700/month with 2 years remaining.; - Versatile space suitable for general office or medical office use.
    (843) 225-2002
    Request Owner's contact information
    309 N Main St Lancaster, SC 29720
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    309 N Main St
    Lancaster, SC 29720
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    309 N Main St Lancaster, SC 29720
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dena Espinoza
    (843) 225-2002
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!