Multi-Tenant Retail
For Sale
$1,500,000
203 Pendleton Road, Clemson, SC 29631
Multi-tenant retail building with ample parking and an unfinished basement, located on highly visible Pendleton Road.
Property Size1,975 SF
Lot Size0.88 Acres
Price / SF$214.29
Days on Market71
Property Features for 203 Pendleton Road
General Information
Standard status
Active
Size
1,975 SF
Lot size
0.88 Acres
Property subtype
Retail
Additional Details
Road Access
Yes
Amenities
0.88 acres, CityLot, Level, Topography: Level
Parcel Number: 4053-06-48-9117, Annual Amount: $11,304.8, Year: 2025
Listing ID: 20302957, Standard Status: Active, MLS Status: Active, Property Subtype: Retail, On market as of 2026-06-20, 1 day on market
Other Parking: 26 - 99
Built in 1975, Levels: Two
MLS Area (Major): 304-Pickens County,SC, County/Parish: Pickens
Frontage Type: CityStreet
Building Details
Building Size
1,975 SF
Year Built
1975
Tenancy
Multi
Listing Agency:
Carolina Foothills Real Estate
(864) 650-2316
Listed By:
Andrew Julian · License #81889
(864) 650-2316
Source:
Blackstreaminternational
Added: Jun 20
Changed: Aug 28
Last Checked: Aug 28 at 12:32PM
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 Carolina Foothills Real Estate
Investment Insights
Based on property information with market context.
Multi-tenant retail building featuring an estimated ±17,000 SF of retail space plus an additional ±17,000 SF unfinished basement. The property sits on approximately 0.88 acres and is described as offering a flexible layout to support multiple uses and occupancy needs.
According to the public remarks, the asset is positioned on highly visible Pendleton Road (SC-93), just minutes from downtown Clemson and Clemson University, with ample parking and strong accessibility. The surrounding area is described as a mix of retail, restaurants, student housing, and established neighborhoods, contributing to year-round activity in the Clemson community.
According to the public remarks, the asset is positioned on highly visible Pendleton Road (SC-93), just minutes from downtown Clemson and Clemson University, with ample parking and strong accessibility. The surrounding area is described as a mix of retail, restaurants, student housing, and established neighborhoods, contributing to year-round activity in the Clemson community.
Key Highlights
- Multi‑tenant commercial/retail building on highly visible Pendleton Road (SC‑93) in Clemson
- ±7,000 SF building with a ±7,000 SF unfinished basement
- Approximately 0.88‑acre lot with ample parking
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
$68,020
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
4.53%
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%
$1,360,400
$1.4M
Cap Rate 7%
$971,714
$971.7K
Cap Rate 9%
$755,778
$755.8K
Market Conditions
NOI Build-Up for 7,000 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
$100.8K $14.40/SF
− Vacancy
−$3.6K −$0.52/SF
EGI
$97.2K $13.88/SF
− OpEx
−$29.2K −$4.16/SF
NOI
$68.0K $9.72/SF
Area
Pickens County, SC
Vacancy
3.60%
Lease Rate
$14.40 /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%
$1,360,400
Cap Rate 7%
$971,714
Cap Rate 9%
$755,778
Alternative Uses
Best Use
Retail
$971.7K
$850.3K – $1.13M
NOI $68,020 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.04M
$905.6K – $1.21M
NOI $72,450 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 29631, SC
17,291
Population
7,185
Households
2.4
Avg Household Size
27
Median Age
61%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
1,987
Density / Sq Mi
$50,217
Median Household Income
$15,693
Median Earnings
$954
Median Rent
$361,500
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?
Retail space - Multi-tenant retail building with ample parking and an unfinished basement, located on highly visible Pendleton Road.
Where is this retail space located?
The property is located at 203 Pendleton Road Clemson, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Multi‑tenant commercial/retail building on highly visible Pendleton Road (SC‑93) in Clemson; ±7,000 SF building with a ±7,000 SF unfinished basement; Approximately 0.88‑acre lot with ample parking
