Renovated Retail Showroom in
For Sale
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1638 Chapin Rd, Chapin, SC 29036
1,800 SF renovated retail/showroom space in Chapin, SC.
Property Size1,800 SF
Lot Size0.41 Acres
Price / SF$293.89
Days on Market156
Property Features for 1638 Chapin Rd
General Information
Standard status
Active
Size
1,800 SF
Class
B
Lot size
0.41 Acres
Property subtype
Retail, Office
Zoning
GC
Investment Type
Owner/User
Building Details
Year Built
1970
Year Renovated
2026
Buildings
1
Stories
1
Listing Agency:
DeWees Real Estate Group
(803) 766-0900
Listed By:
Niles Helmboldt · License #117454
Source:
Crexi
Added: Mar 9
Changed: Aug 11
Last Checked: Aug 10 at 9:06AM
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 DeWees Real Estate Group
Investment Insights
Based on property information with market context.
This property features an 1,800 square foot retail and showroom space with additional storage, situated on 0.41 acres. Located in Chapin, South Carolina, the property benefits from excellent visibility. It is zoned GC within the Town of Chapin. Originally built in 1970, the property underwent a complete renovation between 2025 and 2026, including a new roof, electrical system, HVAC, ductwork, ADA-compliant restrooms, kitchenette, plumbing, paint, windows, doors, and pavement.
Key Highlights
- Completely renovated in 2025‑2026 with new roof, electrical, HVAC, restrooms, kitchenette, plumbing, paint, windows, doors, and pavement.
- Located in the heart of Chapin with excellent visibility.
- 1,800 SF Retail / showroom (plus additional storage).
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
$18,125
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
3.43%
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%
$362,500
$362.5K
Cap Rate 7%
$258,929
$258.9K
Cap Rate 9%
$201,389
$201.4K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$25.9K $14.39/SF
− OpEx
−$7.8K −$4.32/SF
NOI
$18.1K $10.07/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$15.00 /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%
$362,500
Cap Rate 7%
$258,929
Cap Rate 9%
$201,389
Alternative Uses
Best Use
Retail
$258.9K
$226.6K – $302.1K
NOI $18,125 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.4K
$423.0K – $564.0K
NOI $33,840 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29036, SC
27,047
Population
10,910
Households
2.5
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
55.1 sq mi
ZIP Area
491
Density / Sq Mi
$116,438
Median Household Income
$62,787
Median Earnings
$1,901
Median Rent
$378,100
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?
Showroom - 1,800 SF renovated retail/showroom space in Chapin, SC.
Where is this showroom located?
The property is located at 1638 Chapin Rd Chapin, SC.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Completely renovated in 2025‑2026 with new roof, electrical, HVAC, restrooms, kitchenette, plumbing, paint, windows, doors, and pavement.; Located in the heart of Chapin with excellent visibility.; 1,800 SF Retail / showroom (plus additional storage).
