Retail/Flex Building on Corner
For Sale
$2,750,000
247 Hands Mill Hwy, Rock Hill, SC 29732
21,548 SF retail/flex building on 1.73 acre corner site.
Property Size21,548 SF
Lot Size1.73 Acres
Price / SF$127.62
Days on Market156
Property Features for 247 Hands Mill Hwy
General Information
Standard status
Active
Size
21,548 SF
Lot size
1.73 Acres
Property subtype
Retail
Building Details
Building Size
21,548 SF
Year Built
1986
Listing Agency:
SVN | Southern Commercial
Listed By:
Randy Graham · License #11640
(803) 322-7228
Source:
Svn
Added: Apr 1
Changed: Aug 31
Last Checked: Sep 2 at 3:38PM
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
Investment Insights
Based on property information with market context.
This is a freestanding building with 21,548 square feet of retail, special purpose, and flex space. The building is located on Hands Mill Road/Hwy. 274, situated on a 1.73 acre corner site. It is zoned UD in York County. The building was formerly an indoor gun range and features high security construction throughout. The entire building is heated and cooled. Three-phase electrical power and other utilities are available.
Key Highlights
- +/-21,548 SF free‑standing building
- +/-1.73 acre corner site
- Zoned UD in York County
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
$251,212
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
9.13%
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%
$5,024,240
$5.0M
Cap Rate 7%
$3,588,743
$3.6M
Cap Rate 9%
$2,791,244
$2.8M
Market Conditions
NOI Build-Up for 21,548 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
$431.8K $20.04/SF
− Vacancy
−$45.3K −$2.10/SF
EGI
$386.5K $17.94/SF
− OpEx
−$135.3K −$6.28/SF
NOI
$251.2K $11.66/SF
Area
York County, SC
Vacancy
10.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
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%
$5,024,240
Cap Rate 7%
$3,588,743
Cap Rate 9%
$2,791,244
Alternative Uses
Best Use
Retail
$4.16M
$3.64M – $4.86M
NOI $291,393 @ 7.0% cap · market cap 10.60%
Second Best
Flex RnD
$3.59M
$3.14M – $4.19M
NOI $251,212 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$5.07M
$4.43M – $5.91M
NOI $354,706 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
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 Industrial 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 - 21,548 SF retail/flex building on 1.73 acre corner site.
Where is this retail space located?
The property is located at 247 Hands Mill Hwy Rock Hill, SC.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: +/-21,548 SF free‑standing building; +/-1.73 acre corner site; Zoned UD in York County
