Restaurant Building in Active
For Sale
Contact for pricing
123 North Main Street, Fountain Inn, SC 29644
Capital-improved, fully built-out restaurant building in a high-growth area.
Property Size3,516 SF
Price / SF$426.62
Days on Market106
Property Features for 123 North Main Street
General Information
Standard status
Active
Size
3,516 SF
Property subtype
Retail
Lease Type
NNN
Building Details
Year Built
1951
Year Renovated
2019
Tenancy
Single
Listing Agency:
Freedom Commercial
Listed By:
Morgan Epps · License #128303
Source:
Crexi
Added: May 19
Changed: Aug 17
Last Checked: Aug 29 at 8:52PM
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 Freedom Commercial
Investment Insights
Based on property information with market context.
The property at 123 N Main Street presents a unique opportunity to acquire a fully built-out restaurant building in a highly active downtown area of Upstate South Carolina. The property, with a size of approximately 3,516 square feet, is suitable for an owner-operator looking to open a restaurant with minimal delay or an investor interested in a well-located retail asset within a rapidly growing submarket. Significant capital improvements have been made, including a new TPO roof, upgraded 400 AMP electrical service, and two new modern restrooms. The interior was fully built out for restaurant use in 2019 and includes two exhaust vent hoods and a complete operational layout. Furniture and equipment are available for separate purchase. The property benefits from strong street visibility and direct access to downtown foot traffic on N. Main Street, and is near established neighboring tenants. It is a 5-minute walk from the Mill at Fountain Inn and within one mile of I-85. Fountain Inn is the fastest-growing city in Upstate South Carolina and is projecting 5.04% population growth through 2028. The downtown district is anchored by the Younts Center for the Performing Arts, a farmers' market, breweries, and an expanding dining scene.
Key Highlights
- Fully built‑out restaurant space, minimizing start‑up time.
- Located in Fountain Inn, the fastest‑growing city in Upstate South Carolina.
- Recent capital improvements include a new TPO roof, upgraded electrical service, and two new restrooms.
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
$45,757
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
3.05%
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%
$915,140
$915.1K
Cap Rate 7%
$653,671
$653.7K
Cap Rate 9%
$508,411
$508.4K
Market Conditions
NOI Build-Up for 3,516 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
$63.3K $18.00/SF
− Vacancy
−$2.3K −$0.65/SF
EGI
$61.0K $17.35/SF
− OpEx
−$15.3K −$4.34/SF
NOI
$45.8K $13.01/SF
Area
Greenville 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 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%
$915,140
Cap Rate 7%
$653,671
Cap Rate 9%
$508,411
Alternative Uses
Best Use
Specialty Retail
$653.7K
$572.0K – $762.6K
NOI $45,757 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,158 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
SUBWAY
Dining
2,892 visits/mo
0.2 miles
Demographics for 29644, SC
22,357
Population
9,401
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
88%
High-School Grad
82.0 sq mi
ZIP Area
273
Density / Sq Mi
$67,527
Median Household Income
$42,201
Median Earnings
$1,060
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Capital-improved, fully built-out restaurant building in a high-growth area.
Where is this conventional restaurant located?
The property is located at 123 North Main Street Fountain Inn, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully built‑out restaurant space, minimizing start‑up time.; Located in Fountain Inn, the fastest‑growing city in Upstate South Carolina.; Recent capital improvements include a new TPO roof, upgraded electrical service, and two new restrooms.
