Two-Story Storefront with
For Sale
$1,200,000
147 W Main St, Duncan, SC 29334
Central Business District setting with separate front and rear areas across two levels.
Property Size3,552 SF
Price / SF$337.84
Days on Market171
Property Features for 147 W Main St
General Information
Standard status
Active
Size
3,552 SF
Building Details
Buildings
1
Stories
2
Listing Agency:
Nevaeh Realty, LLC
(864) 469-3599
Listed By:
Nikki Copeland
Source:
Greenvilleheartproperties
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 25 at 4:46AM
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 Nevaeh Realty, LLC
Investment Insights
Based on property information with market context.
This 3,552+/- square foot, two-story commercial building at 147 West Main Street includes multiple bathroom and utility improvements across both levels. The front portion of the main floor has one bathroom, a three-bay sink, and a mop sink, while the rear section provides two additional bathrooms. The upper floor adds two bathrooms, a kitchen equipped with a hood, another three-bay sink, and a mop sink.
The property is located in downtown Duncan along West Main Street and carries Central Business District zoning. An associated parking lot can be used for parking or considered for development as additional commercial retail space. Furniture and appliances are excluded from the sale. Buyers should independently verify the stated building size.
The property is located in downtown Duncan along West Main Street and carries Central Business District zoning. An associated parking lot can be used for parking or considered for development as additional commercial retail space. Furniture and appliances are excluded from the sale. Buyers should independently verify the stated building size.
Key Highlights
- 3,552+/- sq Ft two‑story commercial building
- Main‑level front space with 1 bathroom, 3 bay sink, and mop sink
- Main‑level rear area includes 2 bathrooms
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
$40,861
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
3.41%
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%
$817,220
$817.2K
Cap Rate 7%
$583,729
$583.7K
Cap Rate 9%
$454,011
$454.0K
Market Conditions
NOI Build-Up for 3,552 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
$63.9K $18.00/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$58.4K $16.43/SF
− OpEx
−$17.5K −$4.93/SF
NOI
$40.9K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
Lease Rate
$18.00 /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%
$817,220
Cap Rate 7%
$583,729
Cap Rate 9%
$454,011
Alternative Uses
Best Use
Retail
$583.7K
$510.8K – $681.0K
NOI $40,861 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.76M
$2.41M – $3.22M
NOI $193,025 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
25k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Dining 9%
Dollar General
Shops & Services
9,890 visits/mo
0.3 miles
Dollar Tree
Shops & Services
8,393 visits/mo
0.5 miles
Founders Federal Credit Union
Shops & Services
3,657 visits/mo
0.5 miles
SUBWAY
Dining
2,246 visits/mo
0.4 miles
Truck Rental in Duncan, SC 29334
Shops & Services
977 visits/mo
0.4 miles
Demographics for 29334, SC
16,472
Population
7,424
Households
2.2
Avg Household Size
36
Median Age
34%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
716
Density / Sq Mi
$76,595
Median Household Income
$46,990
Median Earnings
$1,221
Median Rent
$267,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Central Business District setting with separate front and rear areas across two levels.
Where is this storefront property located?
The property is located at 147 W Main St Duncan, SC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,552+/- sq Ft two‑story commercial building; Main‑level front space with 1 bathroom, 3 bay sink, and mop sink; Main‑level rear area includes 2 bathrooms
