Freestanding Storefront
New
For Sale
$700,000
205 W Main St, Lake City, SC 29560
Downtown setting near businesses, banks, restaurants, and public services supports multiple commercial use options.
Property Size5,410 SF
Price / SF$129.39
Days on Market3
Property Features for 205 W Main St
General Information
Standard status
Active
Size
5,410 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
Columbia
(803) 401-4233
Listed By:
John Gressette · License #132632
(803) 401-4233
Source:
Colliers
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 6:59AM
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 Columbia
Investment Insights
Based on property information with market context.
This freestanding storefront property contains approximately 5,410 SF and is positioned for retail, office, or professional service operations. The building can accommodate an owner-user or tenant, offering flexibility for an operating business or leased occupancy.
Located on W Main Street in downtown Lake City’s business district, the property provides access to nearby local businesses, banks, restaurants, and public services. The surrounding downtown is experiencing redevelopment activity, while Lake City serves the Pee Dee region and hosts the annual ArtFields festival. Interstate 95 is also nearby, connecting the property with broader regional traffic and communities.
Located on W Main Street in downtown Lake City’s business district, the property provides access to nearby local businesses, banks, restaurants, and public services. The surrounding downtown is experiencing redevelopment activity, while Lake City serves the Pee Dee region and hosts the annual ArtFields festival. Interstate 95 is also nearby, connecting the property with broader regional traffic and communities.
Key Highlights
- ±5,410 SF freestanding storefront building
- Retail, office, and professional service use potential
- Suitable for an owner‑occupant or tenant
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
$42,689
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
6.10%
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%
$853,780
$853.8K
Cap Rate 7%
$609,843
$609.8K
Cap Rate 9%
$474,322
$474.3K
Market Conditions
NOI Build-Up for 5,410 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
$68.2K $12.60/SF
− Vacancy
−$11.2K −$2.08/SF
EGI
$56.9K $10.52/SF
− OpEx
−$14.2K −$2.63/SF
NOI
$42.7K $7.89/SF
Area
Florence County, SC
Vacancy
16.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$853,780
Cap Rate 7%
$609,843
Cap Rate 9%
$474,322
Alternative Uses
Best Use
Office B
$609.8K
$533.6K – $711.5K
NOI $42,689 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$553.8K
$484.6K – $646.1K
NOI $38,768 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$797.6K
$697.9K – $930.5K
NOI $55,831 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29560, SC
12,668
Population
6,236
Households
2
Avg Household Size
41
Median Age
19%
College-Educated
86%
High-School Grad
164.9 sq mi
ZIP Area
77
Density / Sq Mi
$45,421
Median Household Income
$31,681
Median Earnings
$702
Median Rent
$108,000
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?
Storefront property - Downtown setting near businesses, banks, restaurants, and public services supports multiple commercial use options.
Where is this storefront property located?
The property is located at 205 W Main St Lake City, SC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: ±5,410 SF freestanding storefront building; Retail, office, and professional service use potential; Suitable for an owner‑occupant or tenant
