Live-Work Space with Hardwood
For Sale
$250,000
221 S Charlotte Avenue, Rock Hill, SC 29730
Zoned NO for residential or office use, with original cabinetry and hardwood flooring adding character to the interior.
Property Size775 SF
Price / SF$322.58
Days on Market43
Property Features for 221 S Charlotte Avenue
General Information
Standard status
Active
Size
775 SF
Property subtype
Commercial
Zoning
NO
Building Details
Year Built
1935
Listing Agency:
Faith Funderburke Realty LLC
(803) 493-4480
Listed By:
Faith Funderburke · License #78126
Source:
Techrealtyllc
Added: Jul 10
Changed: Aug 18
Last Checked: Aug 20 at 1:19PM
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 Faith Funderburke Realty LLC
Investment Insights
Based on property information with market context.
Built in 1935, this 775-square-foot live-work property at 221 S Charlotte Avenue combines residential and office functionality within a character-rich setting. The interior includes original built-in corner cabinetry and hardwood floors, providing distinctive architectural details for either use.
The property is zoned NO and is located in Rock Hill, South Carolina. Its configuration supports use as a private residence or office space, offering flexibility for an owner seeking to combine living and business functions in one property.
The property is zoned NO and is located in Rock Hill, South Carolina. Its configuration supports use as a private residence or office space, offering flexibility for an owner seeking to combine living and business functions in one property.
Key Highlights
- 775‑square‑foot live‑work property
- Zoned NO for residential or office use
- Original built‑in corner cabinetry
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
$10,326
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
4.13%
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%
$206,520
$206.5K
Cap Rate 7%
$147,514
$147.5K
Cap Rate 9%
$114,733
$114.7K
Market Conditions
NOI Build-Up for 775 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
$14.7K $18.96/SF
− Vacancy
−$926 −$1.19/SF
EGI
$13.8K $17.77/SF
− OpEx
−$3.4K −$4.44/SF
NOI
$10.3K $13.32/SF
Area
York County, SC
Vacancy
6.30%
Lease Rate
$18.96 /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%
$206,520
Cap Rate 7%
$147,514
Cap Rate 9%
$114,733
Alternative Uses
Best Use
Office B
$147.5K
$129.1K – $172.1K
NOI $10,326 @ 7.0% cap · market cap 4.13%
Second Best
Mixed Use
$95.0K
$83.1K – $110.8K
NOI $6,650 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$182.2K
$159.5K – $212.6K
NOI $12,757 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 29730, SC
57,325
Population
26,209
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
89%
High-School Grad
119.4 sq mi
ZIP Area
480
Density / Sq Mi
$63,122
Median Household Income
$39,484
Median Earnings
$1,234
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Zoned NO for residential or office use, with original cabinetry and hardwood flooring adding character to the interior.
Where is this live-work space located?
The property is located at 221 S Charlotte Avenue Rock Hill, SC.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 775‑square‑foot live‑work property; Zoned NO for residential or office use; Original built‑in corner cabinetry
