Building Details

Buildings 1

Building Size 1,800 SF

Construction steel frame

Listing Agency: TruHome Realty Show Phone

Listed By: Carla Rawleigh

Source: Exprealty

Added: Apr 21 Changed: Aug 29 Last Checked: Aug 29 at 3:09PM

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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 TruHome Realty

Investment Insights

Based on property information with market context.

This flex space includes an approximately 1,800-square-foot red iron steel building on nearly an acre of commercial land. The structure offers an open interior with approximately 16-foot ceiling heights and two oversized 14-foot roll-up doors, providing practical accommodation for loading, vehicles, equipment, storage, or warehouse-oriented operations.

The property is positioned in a high-traffic area with strong visibility and convenient access to a nearby interstate. Its location supports customer, client, and delivery access, while the adaptable building configuration can serve light industrial, automotive, storage, or other commercial flex uses.

Key Highlights

• Approximately 1,800 square feet of building space on nearly an acre
• Approximately 16‑foot ceiling heights
• Two oversized 14‑foot roll‑up doors

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

$26,686

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

8.75%

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%

$533,720 $533.7K

Cap Rate 7%

$381,229 $381.2K

Cap Rate 9%

$296,511 $296.5K

Market Conditions

NOI Build-Up for 1,800 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

$33.0K $18.36/SF

− Vacancy

−$1.7K −$0.92/SF

EGI

$31.4K $17.44/SF

− OpEx

−$4.7K −$2.62/SF

NOI

$26.7K $14.83/SF

Area

Calhoun County, SC

Vacancy

5.00%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

15.00%

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%

$533,720

Cap Rate 7%

$381,229

Cap Rate 9%

$296,511

Alternative Uses

Best Use

Warehouse

$381.2K

$333.6K – $444.8K (±1% cap)

NOI $26,686 @ 7.0% cap · market cap 8.75%

Second Best

Flex RnD

$318.8K

$279.0K – $372.0K (±1% cap)

NOI $22,317 @ 7.0% cap · market cap 7.32%

Theoretical Best

Office A

$443.2K

$387.8K – $517.1K (±1% cap)

NOI $31,026 @ 7.0% cap · market cap 10.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Pharmacy Auto Parts Store Storage Facility Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 29135, SC

8,074

Population

3,990

Households

2

Avg Household Size

47

Median Age

22%

College-Educated

86%

High-School Grad

193.6 sq mi

ZIP Area

42

Density / Sq Mi

$54,081

Median Household Income

$34,298

Median Earnings

$1,011

Median Rent

$151,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Steel construction, an open interior, and interstate access support adaptable commercial operations.

Where is this flex space located?

The property is located at 2606 Colonel Thomson Hwy St Matthews, SC.

What is the asking price?

The asking price for this property is $305,000.

What are key features of this property?

This property features: Approximately 1,800 square feet of building space on nearly an acre; Approximately 16‑foot ceiling heights; Two oversized 14‑foot roll‑up doors