Building Details

Year Built 1937

Year Renovated 2025

Buildings 1

Stories 1

Listing Agency: The HomesFinder Realty Group

Listed By: Will Achurch, CCIM · License #SC 100920 & GA 432657

Source: Crexi

Added: Jul 17 Changed: Aug 31 Last Checked: Aug 31 at 3:43PM

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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 HomesFinder Realty Group

Investment Insights

Based on property information with market context.

Built in 1937, this renovated bungalow retains its established character while incorporating updated functionality. The property can accommodate residential use, business operations, or a combination of both. Its prior role as a neighborhood grocery store adds a documented connection to the area’s commercial history.

The parcel is positioned along US 21, a primary route toward Beaufort, Hunting Island, and Hilton Head Island from the north. US Hwy 17 and I-95 are accessible from the property, while the Whale Branch River is less than a half mile away. Port Royal Island is also within the surrounding access network. Several mature live oak trees contribute shade and an established setting.

Key Highlights

• Renovated 1937 bungalow with updated functionality
• Supports residential use, business use, or a combination of both
• Former Blanchard Grocery location, established in 1947

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

$34,142

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

8.56%

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%

$682,840 $682.8K

Cap Rate 7%

$487,743 $487.7K

Cap Rate 9%

$379,356 $379.4K

Market Conditions

NOI Build-Up for 2,162 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

$51.9K $24.00/SF

− Vacancy

−$3.1K −$1.44/SF

EGI

$48.8K $22.56/SF

− OpEx

−$14.6K −$6.77/SF

NOI

$34.1K $15.79/SF

Area

Beaufort County, SC

Vacancy

6.00%

Lease Rate

$24.00 /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%

$682,840

Cap Rate 7%

$487,743

Cap Rate 9%

$379,356

Alternative Uses

Best Use

Retail

$487.7K

$426.8K – $569.0K (±1% cap)

NOI $34,142 @ 7.0% cap · market cap 8.56%

Second Best

Mixed Use

$387.8K

$339.3K – $452.4K (±1% cap)

NOI $27,144 @ 7.0% cap · market cap 6.80%

Theoretical Best

Office A

$652.3K

$570.8K – $761.0K (±1% cap)

NOI $45,661 @ 7.0% cap · market cap 11.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Real Estate Agency Hair Salon Nail Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

Explore this area Business Placement

Demographics for 29940, SC

3,789

Population

1,892

Households

2

Avg Household Size

47

Median Age

21%

College-Educated

88%

High-School Grad

74.0 sq mi

ZIP Area

51

Density / Sq Mi

$50,642

Median Household Income

$32,035

Median Earnings

$118,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The 1937 building combines preserved character with updated functionality and supports residential, business, or combined occupancy.

Where is this mixed-use property located?

The property is located at 1890 TRASK PKWY Lobeco, SC.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Renovated 1937 bungalow with updated functionality; Supports residential use, business use, or a combination of both; Former Blanchard Grocery location, established in 1947