Simpsonville Commercial Building For
For Sale
Contact for pricing
313 N Main St, Simpsonville, SC 29681
24,000 SF building in Simpsonville, SC, renovated in 2013.
Property Size24,000 SF
Price / SF$166.46
Days on Market723
Property Features for 313 N Main St
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Retail, Office, Special Purpose
Zoning
C2
Investment Type
Owner/User
Listing Agency:
SVN Palmetto
(864) 414-0560
Listed By:
Stephen Ahnrud · License #SC 97519
Source:
Crexi
Added: Aug 19, 2024
Changed: Aug 8
Last Checked: Aug 10 at 3:16PM
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 Palmetto
Investment Insights
Based on property information with market context.
This 24,000 SF building is located in Simpsonville. Renovated in 2013, the property is meticulously maintained and offers a modern space. The C2 zoning designation provides versatile usage options. The property benefits from high visibility and easy access, making it a strategic choice for various building investors and medical facilities.
Key Highlights
- 24,000 SF building in Simpsonville
- Renovated in 2013 and meticulously maintained
- C2 zoning designation allows for versatile usage
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
$355,647
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
8.90%
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%
$7,112,940
$7.1M
Cap Rate 7%
$5,080,671
$5.1M
Cap Rate 9%
$3,951,633
$4.0M
Market Conditions
NOI Build-Up for 24,000 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
$527.0K $21.96/SF
− Vacancy
−$19.0K −$0.79/SF
EGI
$508.1K $21.17/SF
− OpEx
−$152.4K −$6.35/SF
NOI
$355.6K $14.82/SF
Area
Greenville County, SC
Vacancy
3.60%
Lease Rate
$21.96 /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%
$7,112,940
Cap Rate 7%
$5,080,671
Cap Rate 9%
$3,951,633
Alternative Uses
Best Use
Office B
$5.27M
$4.61M – $6.15M
NOI $369,101 @ 7.0% cap · market cap 9.24%
Second Best
Retail
$5.08M
$4.45M – $5.93M
NOI $355,647 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$10.25M
$8.97M – $11.96M
NOI $717,799 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 29681, SC
63,257
Population
25,079
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
96%
High-School Grad
43.7 sq mi
ZIP Area
1,448
Density / Sq Mi
$107,694
Median Household Income
$54,834
Median Earnings
$1,615
Median Rent
$325,700
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?
Retail property - 24,000 SF building in Simpsonville, SC, renovated in 2013.
Where is this retail property located?
The property is located at 313 N Main St Simpsonville, SC.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 24,000 SF building in Simpsonville; Renovated in 2013 and meticulously maintained; C2 zoning designation allows for versatile usage
