Flex Space with Secured
For Sale
$2,200,000
166 Pontiac Business Center Drive, Elgin, SC 29045
Showroom, office, warehouse, and covered outdoor storage support varied commercial operations.
Property Size9,400 SF
Days on Market8
Property Features for 166 Pontiac Business Center Drive
General Information
Standard status
Active
Size
9,400 SF
Property subtype
Industrial
Building Details
Building Size
9,400 SF
Listing Agency:
Trinity Partners
(803) 528-4928
Listed By:
Nick Stomski, SIOR · License #111934
(803) 528-4928
Source:
Trinity-partners
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 10:29PM
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 Trinity Partners
Investment Insights
Based on property information with market context.
This flex property combines approximately 9,400 SF of improvements with a showroom and office area of approximately 3,200 SF and a warehouse measuring approximately 6,000 SF. The warehouse features oversized 14-foot drive-in doors, a 24-foot eave height, and clear-span construction. Covered outdoor storage and a secured yard extend the usable operating area, with approximately 4 acres encompassing the building pad and parking areas.
The property has 100% secured yard coverage and two points of entry. It is positioned at I-20 and Spears Creek Church Road in Elgin, South Carolina, providing direct access to a major interstate corridor. LI, or Light Industrial, zoning is in place.
The property has 100% secured yard coverage and two points of entry. It is positioned at I-20 and Spears Creek Church Road in Elgin, South Carolina, providing direct access to a major interstate corridor. LI, or Light Industrial, zoning is in place.
Key Highlights
- ±9,400 SF total, including ±3,200 SF showroom/office and ±6,000 SF warehouse
- Warehouse includes oversized 14' drive‑in doors and 24' eave height
- Clear span construction with covered outdoor 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
$139,362
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
6.33%
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%
$2,787,240
$2.8M
Cap Rate 7%
$1,990,886
$2.0M
Cap Rate 9%
$1,548,467
$1.5M
Market Conditions
NOI Build-Up for 9,400 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
$172.6K $18.36/SF
− Vacancy
−$8.6K −$0.92/SF
EGI
$164.0K $17.44/SF
− OpEx
−$24.6K −$2.62/SF
NOI
$139.4K $14.83/SF
Area
Kershaw County, SC
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$2,787,240
Cap Rate 7%
$1,990,886
Cap Rate 9%
$1,548,467
Alternative Uses
Best Use
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,362 @ 7.0% cap · market cap 6.33%
Second Best
Retail
$1.91M
$1.67M – $2.23M
NOI $133,600 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$2.31M
$2.03M – $2.70M
NOI $162,026 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29045, SC
27,723
Population
11,643
Households
2.4
Avg Household Size
38
Median Age
32%
College-Educated
92%
High-School Grad
67.9 sq mi
ZIP Area
408
Density / Sq Mi
$80,627
Median Household Income
$44,018
Median Earnings
$1,318
Median Rent
$241,200
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?
Flex space - Showroom, office, warehouse, and covered outdoor storage support varied commercial operations.
Where is this flex space located?
The property is located at 166 Pontiac Business Center Drive Elgin, SC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ±9,400 SF total, including ±3,200 SF showroom/office and ±6,000 SF warehouse; Warehouse includes oversized 14' drive‑in doors and 24' eave height; Clear span construction with covered outdoor storage
