Retail Building with Absolute NNN
New
For Sale
$4,400,000
2331 Ebenezer Rd, Rock Hill, SC 29732
Established retail occupancy with a long-term absolute net lease and minimal landlord operating responsibilities.
Property Size17,247 SF
Lot Size2.82 Acres
Price / SF$255.12
Days on Market2
Property Features for 2331 Ebenezer Rd
General Information
Standard status
Active
Size
17,247 SF
Lot size
2.82 Acres
Property subtype
Vacant-User
Additional Details
Cap Rate
6.95%
Amenities
Exceptional Retail Investment Opportunity - Investors have the opportunity to acquire an exceptional retail asset in one of the most dynamic and desirable locations in York County.
Favorable Lease Terms - The subject property is currently leased to Carolina Kids, featuring a favorable NNN lease term providing owners with minimal operating responsibilities.
Easy Access and Great Visibility - 2331 Ebenezer Rd is situated between Celanese Rd and Twin Lake Rd which hosts approximately 21,128 vehicles per day according to TrafficMetrix.
Excellent Transportation Corridors - The subject property offers easy access to Interstate 77, Interstate 85, and Interstate 20 as well as many others.
Building Details
Building Size
17,247 SF
Year Built
2007
Tenancy
Single
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1735
Listed By:
Cole Simpson · License #License(s): CA: 02016525
(650) 391-1735
Source:
Marcusmillichap
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 4:44AM
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
Located at 2331 Ebenezer Rd in Rock Hill, South Carolina, this retail property includes approximately 17,247 square feet on 2.82 acres. Built in 2007, the building provides a substantial retail footprint for its current occupant, Carolina Kids, which has operated from the property for three years.
The absolute net lease has 12 years remaining and places minimal operating responsibilities on the landlord. Rock Hill is positioned approximately 20 miles south of Charlotte, North Carolina, along the Interstate 77 corridor, providing regional access within the Charlotte-area market.
The absolute net lease has 12 years remaining and places minimal operating responsibilities on the landlord. Rock Hill is positioned approximately 20 miles south of Charlotte, North Carolina, along the Interstate 77 corridor, providing regional access within the Charlotte-area market.
Key Highlights
- Approximately 17,247 square feet on 2.82 acres
- Absolute net lease with 12 years remaining
- Carolina Kids has operated at the property for three years
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
$233,231
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
5.30%
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%
$4,664,620
$4.7M
Cap Rate 7%
$3,331,871
$3.3M
Cap Rate 9%
$2,591,456
$2.6M
Market Conditions
NOI Build-Up for 17,247 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
$345.6K $20.04/SF
− Vacancy
−$12.4K −$0.72/SF
EGI
$333.2K $19.32/SF
− OpEx
−$100.0K −$5.80/SF
NOI
$233.2K $13.52/SF
Area
York County, SC
Vacancy
3.60%
Lease Rate
$20.04 /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%
$4,664,620
Cap Rate 7%
$3,331,871
Cap Rate 9%
$2,591,456
Alternative Uses
Best Use
Retail
$3.33M
$2.92M – $3.89M
NOI $233,231 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,907 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
QuikTrip
Shops & Services
32,795 visits/mo
0.4 miles
Public Storage
Shops & Services
1,394 visits/mo
0.1 miles
Demographics for 29732, SC
59,417
Population
24,926
Households
2.4
Avg Household Size
41
Median Age
40%
College-Educated
95%
High-School Grad
52.8 sq mi
ZIP Area
1,125
Density / Sq Mi
$79,936
Median Household Income
$44,650
Median Earnings
$1,293
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Retail space - Established retail occupancy with a long-term absolute net lease and minimal landlord operating responsibilities.
Where is this retail space located?
The property is located at 2331 Ebenezer Rd Rock Hill, SC.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Approximately 17,247 square feet on 2.82 acres; Absolute net lease with 12 years remaining; Carolina Kids has operated at the property for three years
