Bank Building Across from Medical
New
For Sale
$1,395,000
245 South Herlong Avenue, Rock Hill, SC 29732
Existing commercial building positioned directly across from Piedmont Medical Center.
Property Size3,058 SF
Days on Market6
Property Features for 245 South Herlong Avenue
General Information
Standard status
Active
Size
3,058 SF
Class
B
Property subtype
Office - General Office
Building Details
Building Size
3,058 SF
Listing Agency:
SVN | Southern Commercial Real Estate
(803) 325-1000
Listed By:
Randy Graham · License #11640
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
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 SVN | Southern Commercial Real Estate
Investment Insights
Based on property information with market context.
This bank building occupies a commercial location directly across from Piedmont Medical Center. The property is situated at 245 South Herlong Avenue in Rock Hill, South Carolina, providing a clearly identified setting for banking or related commercial use.
Key Highlights
- Existing bank building
- Directly across from Piedmont Medical Center
- 245 South Herlong Avenue, Rock Hill, SC 29732
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
$41,353
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
2.96%
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%
$827,060
$827.1K
Cap Rate 7%
$590,757
$590.8K
Cap Rate 9%
$459,478
$459.5K
Market Conditions
NOI Build-Up for 3,058 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
$61.3K $20.04/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$59.1K $19.32/SF
− OpEx
−$17.7K −$5.80/SF
NOI
$41.4K $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%
$827,060
Cap Rate 7%
$590,757
Cap Rate 9%
$459,478
Alternative Uses
Best Use
Retail
$590.8K
$516.9K – $689.2K
NOI $41,353 @ 7.0% cap · market cap 2.96%
Second Best
Specialty Retail
$587.7K
$514.2K – $685.6K
NOI $41,136 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$719.1K
$629.2K – $839.0K
NOI $50,338 @ 7.0% cap · market cap 3.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,411
Businesses Nearby
Explore this area
Business Placement
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 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?
Bank - Existing commercial building positioned directly across from Piedmont Medical Center.
Where is this bank located?
The property is located at 245 South Herlong Avenue Rock Hill, SC.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Existing bank building; Directly across from Piedmont Medical Center; 245 South Herlong Avenue, Rock Hill, SC 29732
