Downtown Retail Building with Two
For Sale
$1,500,000
319 Main Street, Seneca, SC 29678
Two fully heated and air-conditioned retail units with private entrances and restrooms, plus street-to-street rear access.
Property Size5,500 SF
Lot Size0.24 Acres
Price / SF$272.73
Days on Market115
Property Features for 319 Main Street
General Information
Standard status
Active
Size
5,500 SF
Total Parking Spaces
12
Lot size
0.24 Acres
Property subtype
Retail
Additional Details
Road Access
Yes
Building Details
Building Size
5,500 SF
Listed By:
Eddie Smith
(770) 519-0025
Source:
Mccoywright
Added: May 14
Changed: Aug 8
Last Checked: Sep 5 at 6:20AM
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 Eddie Smith
Investment Insights
Based on property information with market context.
For sale 5,500 SF retail building in Historic Downtown Seneca, consisting of two separate units. Both units are fully heated and air conditioned and feature private entrances and restroom facilities. The property also includes upstairs space that could be restored and developed for additional retail or apartment rentals.
The building has 34’ frontage on Main Street and street-to-street access to the rear via West North First Street. It is located inside city limits and is zoned commercial by the City of Seneca. Parking is available with 12 surface spaces on the street side and a no-fee municipal lot directly across Main.
The building sits on 0.24 acres and is close to downtown activity, including Ram Cat Alley and the new Performing Arts Center and open-air amphitheater. Buyer or buyer’s agent should verify all information, including utilities and zoning.
The building has 34’ frontage on Main Street and street-to-street access to the rear via West North First Street. It is located inside city limits and is zoned commercial by the City of Seneca. Parking is available with 12 surface spaces on the street side and a no-fee municipal lot directly across Main.
The building sits on 0.24 acres and is close to downtown activity, including Ram Cat Alley and the new Performing Arts Center and open-air amphitheater. Buyer or buyer’s agent should verify all information, including utilities and zoning.
Key Highlights
- 5,500 SF downtown Seneca retail building at 319+321 Main Street with 2 separate units and private entrances
- Both units are fully heated and air conditioned, each with its own restroom facilities
- 34’ frontage on Main Street plus street‑to‑street rear access on West North First Street
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
$66,805
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
4.45%
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%
$1,336,100
$1.3M
Cap Rate 7%
$954,357
$954.4K
Cap Rate 9%
$742,278
$742.3K
Market Conditions
NOI Build-Up for 5,500 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
$99.0K $18.00/SF
− Vacancy
−$3.6K −$0.65/SF
EGI
$95.4K $17.35/SF
− OpEx
−$28.6K −$5.21/SF
NOI
$66.8K $12.15/SF
Area
Oconee County, SC
Vacancy
3.60%
Lease Rate
$18.00 /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%
$1,336,100
Cap Rate 7%
$954,357
Cap Rate 9%
$742,278
Alternative Uses
Best Use
Retail
$954.4K
$835.1K – $1.11M
NOI $66,805 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,645 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wells Fargo
Shops & Services
7,262 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,481 visits/mo
0.1 miles
Demographics for 29678, SC
23,700
Population
11,742
Households
2
Avg Household Size
40
Median Age
24%
College-Educated
85%
High-School Grad
79.8 sq mi
ZIP Area
297
Density / Sq Mi
$49,699
Median Household Income
$33,779
Median Earnings
$943
Median Rent
$205,600
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?
Retail space - Two fully heated and air-conditioned retail units with private entrances and restrooms, plus street-to-street rear access.
Where is this retail space located?
The property is located at 319 Main Street Seneca, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,500 SF downtown Seneca retail building at 319+321 Main Street with 2 separate units and private entrances; Both units are fully heated and air conditioned, each with its own restroom facilities; 34’ frontage on Main Street plus street‑to‑street rear access on West North First Street
