Renovated Storefront
New
For Sale
$672,000
509 Georgia Ave, North Augusta, SC 29841
Three occupied retail units provide a flexible commercial configuration.
Property Size6,126 SF
Price / SF$109.70
Days on Market2
Property Features for 509 Georgia Ave
General Information
Standard status
Active
Size
6,126 SF
Property subtype
Retail
Zoning
DTMU1
Occupancy
100%
Building Details
Building Size
6,126 SF
Year Built
1947
Year Renovated
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Sherman & Hemstreet Real Estate Company
Listed By:
Connie Wilson, CCIM · License #75509
(706) 394-4661
Source:
Shermanandhemstreet
Added: Sep 5
Last Checked: Sep 6 at 7:03AM
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 Sherman & Hemstreet Real Estate Company
Investment Insights
Based on property information with market context.
This storefront property contains 6,126 SF arranged across three retail units. Originally constructed in 1947, the building underwent renovation in 2025, combining an established structure with updated improvements. DTMU1 zoning supports its commercial retail use.
The property is located at 509 Georgia Ave in North Augusta, South Carolina. All three units are occupied, providing a fully leased configuration for an owner seeking an operating retail asset. The building is also associated with 515 Georgia Avenue in the listing identification.
The property is located at 509 Georgia Ave in North Augusta, South Carolina. All three units are occupied, providing a fully leased configuration for an owner seeking an operating retail asset. The building is also associated with 515 Georgia Avenue in the listing identification.
Key Highlights
- 6,126 SF storefront building
- Three retail units
- Renovated in 2025
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
$59,157
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
8.80%
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%
$1,183,140
$1.2M
Cap Rate 7%
$845,100
$845.1K
Cap Rate 9%
$657,300
$657.3K
Market Conditions
NOI Build-Up for 6,126 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
$88.2K $14.40/SF
− Vacancy
−$3.7K −$0.60/SF
EGI
$84.5K $13.80/SF
− OpEx
−$25.4K −$4.14/SF
NOI
$59.2K $9.66/SF
Area
Aiken County, SC
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,183,140
Cap Rate 7%
$845,100
Cap Rate 9%
$657,300
Alternative Uses
Best Use
Retail
$845.1K
$739.5K – $986.0K
NOI $59,157 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,657 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29841, SC
32,919
Population
16,474
Households
2
Avg Household Size
40
Median Age
32%
College-Educated
93%
High-School Grad
31.9 sq mi
ZIP Area
1,032
Density / Sq Mi
$72,811
Median Household Income
$46,447
Median Earnings
$1,050
Median Rent
$186,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Sweet Fig Market and Gifts — 510 West Ave, North Augusta, SC 29841
- MY Garden and Beyond — 434 georgia ave, north augusta, sc 29841
Frequently Asked Questions
What type of property is this?
Storefront property - Three occupied retail units provide a flexible commercial configuration.
Where is this storefront property located?
The property is located at 509 Georgia Ave North Augusta, SC.
What is the asking price?
The asking price for this property is $672,000.
What are key features of this property?
This property features: 6,126 SF storefront building; Three retail units; Renovated in 2025
