Three-Level Mixed-Use
For Sale
$750,000
202 Main St., Greenwood, SC 29646
COMMERCIAL - Greenwood, SC
Property Size5,308 SF
Price / SF$141.30
Days on Market591
Property Features for 202 Main St.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
5,308 SF
Building Details
Year built
1917
Listing Agency:
The Whitmire Agency
(864) 388-7653
Listed By:
Tripp Whitmire · License #30928
(864) 344-0812
Added: Jan 9, 2025
Changed: Aug 4
Last Checked: Aug 23 at 11:06AM
MLS# 131936
Copyright © 2026 Greenwood Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Constructed in 1917, this three-level mixed-use building contains 5,308 square feet. The main floor is finished for retail, office, or other mixed-use applications, while the upper level offers additional area for future build-out, including potential studio apartment or retail concepts. A basement provides extra storage space.
The property occupies a corner location at 202 Main St. in Greenwood, South Carolina, within the Uptown area. Its configuration combines finished commercial space with additional areas that can support a range of planned uses, subject to applicable requirements and approvals.
The property occupies a corner location at 202 Main St. in Greenwood, South Carolina, within the Uptown area. Its configuration combines finished commercial space with additional areas that can support a range of planned uses, subject to applicable requirements and approvals.
Key Highlights
- 5,308‑square‑foot mixed‑use building
- Three levels with finished main‑floor retail and office space
- Upper level offers additional area for potential build‑out
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
$52,549
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
7.01%
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%
$1,050,980
$1.1M
Cap Rate 7%
$750,700
$750.7K
Cap Rate 9%
$583,878
$583.9K
Market Conditions
NOI Build-Up for 5,308 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
$95.5K $18.00/SF
− Vacancy
−$11.5K −$2.16/SF
EGI
$84.1K $15.84/SF
− OpEx
−$31.5K −$5.94/SF
NOI
$52.5K $9.90/SF
Area
Greenwood County, SC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,050,980
Cap Rate 7%
$750,700
Cap Rate 9%
$583,878
Alternative Uses
Best Use
Mixed Use
$750.7K
$656.9K – $875.8K
NOI $52,549 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$349.8K
$306.0K – $408.1K
NOI $24,483 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,721 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
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?
Mixed-use property - Finished retail and office space occupies the main level, with additional upper-level and basement areas.
Where is this mixed-use property located?
The property is located at 202 Main St. Greenwood, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,308‑square‑foot mixed‑use building; Three levels with finished main‑floor retail and office space; Upper level offers additional area for potential build‑out
