Former Bank Office
For Sale
Contact for pricing
1356 Filbert Hwy, York, SC 29745
Sound masonry building with a new 2024 metal roof and a retained vault and door.
Property Size2,474 SF
Price / SF$444.62
Days on Market91
Property Features for 1356 Filbert Hwy
General Information
Standard status
Active
Size
2,474 SF
Property subtype
OFFICE
Building Details
Year Renovated
2024
Construction
masonry
Listing Agency:
Reid Real Estate
(803) 328-6388
Listed By:
William Reid Smith
(803) 417-7516
Source:
Moodyscre
Added: Jun 15
Changed: Sep 2
Last Checked: Sep 12 at 8:26AM
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 Reid Real Estate
Investment Insights
Based on property information with market context.
This very sound masonry office building was formerly a bank and includes the original vault and door, which remain in place. A new metal roof was installed in 2024, supporting continued exterior durability.
The property is presented for office-oriented uses and is described as well suited for medical, dental, office, or pharmacy space.
The existing building configuration and improvements make it a practical fit for tenants or buyers seeking office and healthcare-adjacent space with durable construction and preserved interior security features.
The property is presented for office-oriented uses and is described as well suited for medical, dental, office, or pharmacy space.
The existing building configuration and improvements make it a practical fit for tenants or buyers seeking office and healthcare-adjacent space with durable construction and preserved interior security features.
Key Highlights
- Sound masonry building
- New metal roof installed in 2024
- Former bank building with vault and vault door retained
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
$32,964
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
3.00%
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%
$659,280
$659.3K
Cap Rate 7%
$470,914
$470.9K
Cap Rate 9%
$366,267
$366.3K
Market Conditions
NOI Build-Up for 2,474 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
$46.9K $18.96/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$44.0K $17.77/SF
− OpEx
−$11.0K −$4.44/SF
NOI
$33.0K $13.32/SF
Area
York County, SC
Vacancy
6.30%
Lease Rate
$18.96 /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%
$659,280
Cap Rate 7%
$470,914
Cap Rate 9%
$366,267
Alternative Uses
Best Use
Office B
$470.9K
$412.1K – $549.4K
NOI $32,964 @ 7.0% cap · market cap 3.00%
Second Best
Healthcare Medical
$380.3K
$332.8K – $443.7K
NOI $26,624 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$581.8K
$509.1K – $678.8K
NOI $40,725 @ 7.0% cap · market cap 3.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 29745, SC
32,602
Population
13,765
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
135.8 sq mi
ZIP Area
240
Density / Sq Mi
$75,665
Median Household Income
$42,676
Median Earnings
$961
Median Rent
$242,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Sound masonry building with a new 2024 metal roof and a retained vault and door.
Where is this office building located?
The property is located at 1356 Filbert Hwy York, SC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Sound masonry building; New metal roof installed in 2024; Former bank building with vault and vault door retained
