Renovated Mixed-Use
New
For Sale
$950,000
210-216 North Main Street, Anderson, SC 29621
Downtown property combines two commercial spaces with two upstairs residential units.
Property Size4,800 SF
Price / SF$197.92
Days on Market2
Property Features for 210-216 North Main Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Special Purpose
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1.5BA
Multifamily Units
2
Additional Details
Cap Rate
6.6%
Sprinkler System
Yes
Building Details
Building Size
4,800 SF
Year Renovated
2019
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
(864) 934-5261
Listed By:
John Wright Jr., CCIM
Source:
Mccoywright
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 7:00AM
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 John Wright Jr., CCIM
Investment Insights
Based on property information with market context.
This 4,800-square-foot mixed-use building at 210-216 North Main Street in Anderson, South Carolina, was renovated in 2019. The first floor contains two commercial spaces, while the second floor includes two residential units configured as 2/2 and 1/1.5 apartments. The building is fully sprinklered.
Positioned in downtown Anderson, the property brings commercial and residential components together within one building. The reported 6.6% cap rate provides an additional investment metric for evaluation.
Positioned in downtown Anderson, the property brings commercial and residential components together within one building. The reported 6.6% cap rate provides an additional investment metric for evaluation.
Key Highlights
- 4,800 SF mixed‑use building in downtown Anderson
- Renovated in 2019
- Two commercial spaces on the first floor
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
$59,940
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
6.31%
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%
$1,198,800
$1.2M
Cap Rate 7%
$856,286
$856.3K
Cap Rate 9%
$666,000
$666.0K
Market Conditions
NOI Build-Up for 4,800 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
$103.7K $21.60/SF
− Vacancy
−$7.8K −$1.62/SF
EGI
$95.9K $19.98/SF
− OpEx
−$36.0K −$7.49/SF
NOI
$59.9K $12.49/SF
Area
Anderson County, SC
Vacancy
7.50%
Lease Rate
$21.60 /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%
$1,198,800
Cap Rate 7%
$856,286
Cap Rate 9%
$666,000
Alternative Uses
Best Use
Apartment 5plus
$45.67M
$39.96M – $53.28M
NOI $3,197,010 @ 7.0% cap · market cap 336.53%
Second Best
Retail
$1.39M
$1.21M – $1.62M
NOI $97,171 @ 7.0% cap · market cap 10.23%
Theoretical Best
Multifamily LT 5
$51.97M
$45.47M – $60.63M
NOI $3,637,932 @ 7.0% cap · market cap 382.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 29621, SC
44,601
Population
18,960
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
87.1 sq mi
ZIP Area
512
Density / Sq Mi
$71,446
Median Household Income
$41,773
Median Earnings
$1,023
Median Rent
$252,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines two commercial spaces with two upstairs residential units.
Where is this mixed-use property located?
The property is located at 210-216 North Main Street Anderson, SC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,800 SF mixed‑use building in downtown Anderson; Renovated in 2019; Two commercial spaces on the first floor
