Building Details

Year Built 2006

Year Renovated 2012

Stories 1

Units 100

Listing Agency: Cobb & Sabbagha Realty

Listed By: Jackson Cobb · License #SC 6370

Source: Crexi

Added: May 3 Changed: Aug 8 Last Checked: Aug 8 at 12:24PM

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Investment Insights

Based on property information with market context.

This for-sale retail building is configured as a single unit totaling 45,488 SF. The property is identified as a retail asset, offering one consolidated space for an owner-occupant or tenant arrangement.

The building is located at 190 Pontiac Business Ctr Dr in Elgin, SC. The listing information notes one unit within the retail property, which can simplify leasing or occupancy planning for a single occupant footprint.

Key Highlights

• Retail building built in 2006
• Approximately 45,488 SF retail space
• Single‑unit retail property

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

$646,512

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

8.32%

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%

$12,930,240 $12.9M

Cap Rate 7%

$9,235,886 $9.2M

Cap Rate 9%

$7,183,467 $7.2M

Market Conditions

NOI Build-Up for 45,488 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

$982.5K $21.60/SF

− Vacancy

−$59.0K −$1.30/SF

EGI

$923.6K $20.30/SF

− OpEx

−$277.1K −$6.09/SF

NOI

$646.5K $14.21/SF

Area

Kershaw County, SC

Vacancy

6.00%

Lease Rate

$21.60 /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%

$12,930,240

Cap Rate 7%

$9,235,886

Cap Rate 9%

$7,183,467

Alternative Uses

Best Use

Retail

$9.24M

$8.08M – $10.78M (±1% cap)

NOI $646,512 @ 7.0% cap · market cap 8.32%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$11.20M

$9.80M – $13.07M (±1% cap)

NOI $784,068 @ 7.0% cap · market cap 10.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Thunder Tower Harley-Davidson Motorcycle Shop ATM Atm

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Parking Lot & Garage Pharmacy Real Estate Agency

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

Location Intelligence

Trade Area within ½ mile

278

Businesses Nearby

115k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 46% Groceries 38% Dining 16%

Food Lion Grocery Store Groceries

33,568 visits/mo 0.3 miles

Bojangles' Famous Chicken 'n Biscuits Dining

14,527 visits/mo 0.2 miles

Circle K Shops & Services

14,118 visits/mo 0.2 miles

Dollar General Shops & Services

11,541 visits/mo 0.4 miles

Elgin IGA Groceries

10,472 visits/mo 0.3 miles

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

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Frequently Asked Questions

What type of property is this?

Retail space - For sale retail building with one unit and approximately 45,488 SF.

Where is this retail space located?

The property is located at 190 PONTIAC BUSINESS CTR DR Elgin, SC.

What is the asking price?

The asking price for this property is $7,775,000.

What are key features of this property?

This property features: Retail building built in 2006; Approximately 45,488 SF retail space; Single‑unit retail property