Brick Office
For Sale
Contact for pricing
1615 Middleton St, Orangeburg, SC 29115
Single-story brick property with a functional layout for medical, professional, or office use.
Property Size1,632 SF
Lot Size0.54 Acres
Price / SF$116.42
Days on Market40
Property Features for 1615 Middleton St
General Information
Standard status
Active
Size
1,632 SF
Total Parking Spaces
6
Lot size
0.54 Acres
Property subtype
Office
Building Details
Year Built
1952
Buildings
1
Units
1
Building Size
1,632 SF
Construction
brick
Listing Agency:
The Litchfield Company - Commercial Division
(803) 535-6208
Listed By:
Cal Bruner · License #SC 4526
Source:
Crexi
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 29 at 4:57PM
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 1,632-square-foot office building at 1615 Middleton St in Orangeburg, SC, occupies a 0.54-acre parcel and was constructed in 1952. The single-story brick structure offers a practical layout for office operations, medical services, or professional practice use.
The site includes parking and additional land area that may accommodate future expansion or redevelopment, subject to applicable approvals. Its combination of established construction, commercial functionality, and a substantial parcel creates a straightforward platform for an owner-user or investor seeking office-oriented real estate.
The site includes parking and additional land area that may accommodate future expansion or redevelopment, subject to applicable approvals. Its combination of established construction, commercial functionality, and a substantial parcel creates a straightforward platform for an owner-user or investor seeking office-oriented real estate.
Key Highlights
- 1,632‑square‑foot office building
- 0.54‑acre parcel at 1615 Middleton St
- Brick construction completed in 1952
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
$12,044
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
6.34%
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%
$240,880
$240.9K
Cap Rate 7%
$172,057
$172.1K
Cap Rate 9%
$133,822
$133.8K
Market Conditions
NOI Build-Up for 1,632 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
$19.6K $12.00/SF
− Vacancy
−$3.5K −$2.16/SF
EGI
$16.1K $9.84/SF
− OpEx
−$4.0K −$2.46/SF
NOI
$12.0K $7.38/SF
Area
Orangeburg County, SC
Vacancy
18.00%
Lease Rate
$12.00 /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%
$240,880
Cap Rate 7%
$172,057
Cap Rate 9%
$133,822
Alternative Uses
Best Use
Office B
$172.1K
$150.6K – $200.7K
NOI $12,044 @ 7.0% cap · market cap 6.34%
Second Best
Healthcare Medical
$55.1K
$48.2K – $64.2K
NOI $3,854 @ 7.0% cap · market cap 2.03%
Theoretical Best
Specialty Retail
$236.4K
$206.9K – $275.8K
NOI $16,550 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 29115, SC
28,207
Population
14,058
Households
2
Avg Household Size
37
Median Age
19%
College-Educated
78%
High-School Grad
124.6 sq mi
ZIP Area
226
Density / Sq Mi
$34,174
Median Household Income
$26,854
Median Earnings
$779
Median Rent
$95,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story brick property with a functional layout for medical, professional, or office use.
Where is this office building located?
The property is located at 1615 Middleton St Orangeburg, SC.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,632‑square‑foot office building; 0.54‑acre parcel at 1615 Middleton St; Brick construction completed in 1952
