Renovated Duplex
For Sale
Contact for pricing
1540 Herron Street, Orangeburg, SC 29118
Portfolio includes three duplexes with recent renovations and city utilities across Herron Street and Ellis Avenue.
Property Size5,128 SF
Lot Size0.80 Acres
Price / SF$121.88
Days on Market49
Property Features for 1540 Herron Street
General Information
Standard status
Active
Size
5,128 SF
Lot size
0.80 Acres
Property subtype
Multifamily
Additional Details
Business Included
Yes
Utilities to Site
Yes
Multifamily Units
6
Building Details
Year Built
1950
Buildings
3
Units
6
Tenancy
Multi
Listing Agency:
The Litchfield Company - Commercial Division
(803) 535-6208
Listed By:
Cal Bruner · License #SC 4526
Source:
Crexi
Added: Jul 9
Changed: Aug 14
Last Checked: Aug 24 at 9:34PM
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 The Litchfield Company - Commercial Division
Investment Insights
Based on property information with market context.
This for-sale portfolio includes three income-producing duplexes. Two duplexes are located on Herron Street and together total 3,416 square feet, built in 1971 and 1976. The third property is a single duplex on Ellis Avenue totaling 2,212 square feet, built in 1950. Each unit has undergone recent renovations, including new appliances, flooring, windows, paint, bathrooms, and HVAC systems.
The Herron Street properties are situated on 0.45 acres and feature metal roofs with city utilities. The Ellis Avenue duplex sits on 0.346 acres and is served by city utilities.
Overall, the portfolio provides a renovated residential income setup with updated building components and HVAC in place across all three duplexes.
The Herron Street properties are situated on 0.45 acres and feature metal roofs with city utilities. The Ellis Avenue duplex sits on 0.346 acres and is served by city utilities.
Overall, the portfolio provides a renovated residential income setup with updated building components and HVAC in place across all three duplexes.
Key Highlights
- Portfolio of three income‑producing duplexes on Herron Street and Ellis Avenue
- Herron Street: two duplexes totaling 3,416 sq ft (built 1971 and 1976) on 0.45 acres with metal roofs and city utilities
- Ellis Avenue: one duplex totaling 2,212 sq ft (built 1950) on 0.346 acres with city utilities
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
$20,252
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
3.24%
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%
$405,040
$405.0K
Cap Rate 7%
$289,314
$289.3K
Cap Rate 9%
$225,022
$225.0K
Market Conditions
NOI Build-Up for 5,128 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
$36.9K $7.20/SF
− Vacancy
−$8.0K −$1.56/SF
EGI
$28.9K $5.64/SF
− OpEx
−$8.7K −$1.69/SF
NOI
$20.3K $3.95/SF
Area
Orangeburg County, SC
Vacancy
21.64%
Lease Rate
$7.20 /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%
$405,040
Cap Rate 7%
$289,314
Cap Rate 9%
$225,022
Alternative Uses
Best Use
Multifamily LT 5
$289.3K
$253.2K – $337.5K
NOI $20,252 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$261.3K
$228.7K – $304.9K
NOI $18,294 @ 7.0% cap · market cap 2.93%
Theoretical Best
Specialty Retail
$742.9K
$650.1K – $866.7K
NOI $52,004 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 29118, SC
15,446
Population
6,742
Households
2.3
Avg Household Size
43
Median Age
32%
College-Educated
89%
High-School Grad
76.6 sq mi
ZIP Area
202
Density / Sq Mi
$57,704
Median Household Income
$39,124
Median Earnings
$967
Median Rent
$160,900
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Duplex - Portfolio includes three duplexes with recent renovations and city utilities across Herron Street and Ellis Avenue.
Where is this duplex located?
The property is located at 1540 Herron Street Orangeburg, SC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Portfolio of three income‑producing duplexes on Herron Street and Ellis Avenue; Herron Street: two duplexes totaling 3,416 sq ft (built 1971 and 1976) on 0.45 acres with metal roofs and city utilities; Ellis Avenue: one duplex totaling 2,212 sq ft (built 1950) on 0.346 acres with city utilities
