Multi-Office Building with Storage
For Sale
$299,900
331 S 4th Street, Hartsville, SC 29550
COMMERCIAL - Hartsville, SC
Property Size2,275 SF
Lot Size0.32 Acres
Price / SF$131.82
Days on Market120
Property Features for 331 S 4th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Central Business Area, Freestanding, General Business Dist.
Subdivision
HARTSVILLE
Standard status
Active
Size
2,275 SF
Lot size
0.32 Acres
Building Details
Year built
1961
Building materials
Stucco
Listing Agency:
Drayton Realty Group
(843) 407-5232
Listed By:
Laraine Stevens
(843) 468-1309
Added: Apr 29
Changed: Aug 4
Last Checked: Aug 26 at 3:06PM
MLS# 2601595
Copyright © 2026 Pee Dee Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial office building offers three separate office areas. Two of the offices are occupied by long-term tenants, while the third office is currently vacant and used by the owner for storage but available for additional rental income.
Located in Hartsville, South Carolina, the property is centrally situated near Carolina Avenue within a well established business district.
An adjacent lot is also being offered for sale separately, with its own tax map number and separate price.
Located in Hartsville, South Carolina, the property is centrally situated near Carolina Avenue within a well established business district.
An adjacent lot is also being offered for sale separately, with its own tax map number and separate price.
Key Highlights
- Stucco construction with Year Built 1961
- Building includes three separate office areas
- Two offices have long‑term tenants
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
$25,799
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
8.60%
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%
$515,980
$516.0K
Cap Rate 7%
$368,557
$368.6K
Cap Rate 9%
$286,656
$286.7K
Market Conditions
NOI Build-Up for 2,275 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
$41.0K $18.00/SF
− Vacancy
−$6.6K −$2.88/SF
EGI
$34.4K $15.12/SF
− OpEx
−$8.6K −$3.78/SF
NOI
$25.8K $11.34/SF
Area
Darlington County, SC
Vacancy
16.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$515,980
Cap Rate 7%
$368,557
Cap Rate 9%
$286,656
Alternative Uses
Best Use
Office B
$368.6K
$322.5K – $430.0K
NOI $25,799 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.21M
$3.68M – $4.91M
NOI $294,533 @ 7.0% cap · market cap 98.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 29550, SC
30,013
Population
13,913
Households
2.2
Avg Household Size
42
Median Age
24%
College-Educated
87%
High-School Grad
208.2 sq mi
ZIP Area
144
Density / Sq Mi
$54,191
Median Household Income
$36,518
Median Earnings
$851
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Building includes three separate office areas, with two currently occupied and one available for rental.
Where is this office building located?
The property is located at 331 S 4th Street Hartsville, SC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Stucco construction with Year Built 1961; Building includes three separate office areas; Two offices have long‑term tenants
