Renovated Commercial Kitchen
For Sale
$275,000
3 and 5 E liberty Street, York, SC 29745
Historic downtown space with exposed brick and a fully equipped bakery production setup.
Property Size1,755 SF
Price / SF$156.70
Days on Market82
Property Features for 3 and 5 E liberty Street
General Information
Standard status
Active
Size
1,755 SF
Total Parking Spaces
2
Property subtype
Commercial
Amenities
exposed brick walls
high visibility
fully equipped bakery/commercial kitchen
Building Details
Year Built
1940
Construction
brick
Listing Agency:
NorthGroup Real Estate LLC
(704) 412-2804
Listed By:
Myra Sinz
Source:
Techrealtyllc
Added: May 26
Changed: Aug 13
Last Checked: Aug 14 at 2:08PM
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 NorthGroup Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1940 and subsequently renovated, this 1,755-square-foot commercial kitchen property combines exposed brick with a fully equipped bakery and commercial kitchen setup. The space is suited to food-production and customer-facing concepts supported by the existing improvements.
The property is located at 3 and 5 E Liberty Street in York, South Carolina, within Historic Downtown York. Its downtown setting and storefront-oriented configuration provide a setting for a commercial kitchen operation with an in-person component.
The property is located at 3 and 5 E Liberty Street in York, South Carolina, within Historic Downtown York. Its downtown setting and storefront-oriented configuration provide a setting for a commercial kitchen operation with an in-person component.
Key Highlights
- 1,755‑square‑foot commercial kitchen property
- Fully equipped bakery and commercial kitchen setup
- Exposed brick walls
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
$23,733
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
8.63%
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%
$474,660
$474.7K
Cap Rate 7%
$339,043
$339.0K
Cap Rate 9%
$263,700
$263.7K
Market Conditions
NOI Build-Up for 1,755 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
$35.2K $20.04/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$33.9K $19.32/SF
− OpEx
−$10.2K −$5.80/SF
NOI
$23.7K $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%
$474,660
Cap Rate 7%
$339,043
Cap Rate 9%
$263,700
Alternative Uses
Best Use
Retail
$339.0K
$296.7K – $395.6K
NOI $23,733 @ 7.0% cap · market cap 8.63%
Second Best
Specialty Retail
$337.3K
$295.1K – $393.5K
NOI $23,608 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$412.7K
$361.1K – $481.5K
NOI $28,889 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Tony's Pizza
Dining
1,537 visits/mo
0.2 miles
Demographics for 29745, SC
32,602
Population
13,765
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
135.8 sq mi
ZIP Area
240
Density / Sq Mi
$75,665
Median Household Income
$42,676
Median Earnings
$961
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Historic downtown space with exposed brick and a fully equipped bakery production setup.
Where is this commercial kitchen located?
The property is located at 3 and 5 E liberty Street York, SC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,755‑square‑foot commercial kitchen property; Fully equipped bakery and commercial kitchen setup; Exposed brick walls
