Flex Space with Loading
For Sale
Contact for pricing
2823 CELANESE RD, Rock Hill, SC 29732
Industrial building combines showroom, office, and warehouse functions.
Property Size19,200 SF
Lot Size3.00 Acres
Price / SF$195.31
Days on Market126
Property Features for 2823 CELANESE RD
General Information
Standard status
Active
Size
19,200 SF
Lot size
3.00 Acres
Property subtype
Industrial
Investment Type
Owner/User
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
3
Building Details
Year Built
2005
Buildings
1
Units
1
Building Size
19,200 SF
Listing Agency:
NorthMarq
Listed By:
Nolan Dunn · License #335639
Source:
Crexi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 1:48PM
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 NorthMarq
Investment Insights
Based on property information with market context.
Built in 2005, this 19,200-square-foot flex property occupies 3 acres and accommodates a combination of retail, office, warehouse, flex, and light distribution uses. The building includes a showroom and dedicated office space, supporting varied commercial operations within one facility.
Loading infrastructure includes 3 drive-in doors and 2 dock doors. The property is located at 2823 Celanese Rd in Rock Hill, South Carolina.
Loading infrastructure includes 3 drive-in doors and 2 dock doors. The property is located at 2823 Celanese Rd in Rock Hill, South Carolina.
Key Highlights
- 19,200 SF building on 3 acres
- 3 drive‑in doors and 2 dock doors
- Showroom and office space included
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
$223,839
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
5.97%
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%
$4,476,780
$4.5M
Cap Rate 7%
$3,197,700
$3.2M
Cap Rate 9%
$2,487,100
$2.5M
Market Conditions
NOI Build-Up for 19,200 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
$384.8K $20.04/SF
− Vacancy
−$40.4K −$2.10/SF
EGI
$344.4K $17.94/SF
− OpEx
−$120.5K −$6.28/SF
NOI
$223.8K $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%
$4,476,780
Cap Rate 7%
$3,197,700
Cap Rate 9%
$2,487,100
Alternative Uses
Best Use
Flex RnD
$3.20M
$2.80M – $3.73M
NOI $223,839 @ 7.0% cap · market cap 5.97%
Second Best
Warehouse
$2.98M
$2.61M – $3.48M
NOI $208,579 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$4.52M
$3.95M – $5.27M
NOI $316,055 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- Melanie Rowe Catering — 2685 Celanese Rd #107, Rock Hill, SC 29732
Frequently Asked Questions
What type of property is this?
Flex space - Industrial building combines showroom, office, and warehouse functions.
Where is this flex space located?
The property is located at 2823 CELANESE RD Rock Hill, SC.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 19,200 SF building on 3 acres; 3 drive‑in doors and 2 dock doors; Showroom and office space included
