Open-Plan Retail
For Sale
$1,200,000
331 W Carolina Ave, Hartsville, SC 29550
COMMERCIAL/INDUSTRIAL, Hartsville, SC
Property Size17,957 SF
Lot Size1.77 Acres
Price / SF$66.83
Days on Market82
Property Features for 331 W Carolina Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Freestanding
Subdivision
HARTSVILLE
Standard status
Active
Size
17,957 SF
Lot size
1.77 Acres
Taxes and HOA fees
Tax Annual Amount
7655
Building Details
Year built
1962
Listing Agency:
Brown & Coker Realty
(843) 383-6765
Listed By:
Scott Gauger · License #143241
(843) 383-6765
Added: Jun 3
Changed: Aug 19
Last Checked: Aug 23 at 7:06AM
MLS# 2601972
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 retail property at 331 W Carolina Ave includes approximately 17,957 square feet of commercial space on 1.77 acres. The former grocery-store building offers an open interior with 12-foot ceilings, creating a flexible layout for retail, warehouse, distribution, office, fitness, or redevelopment use. Approximately 81 parking spaces support customer, employee, and tenant access, while roof improvements completed within the past two years address a major building component.
The property is positioned along West Carolina Avenue in Hartsville, close to downtown businesses, restaurants, and shopping. Its established commercial setting and sizable floor area provide a combination of interior capacity, site area, and parking for a range of operations.
The property is positioned along West Carolina Avenue in Hartsville, close to downtown businesses, restaurants, and shopping. Its established commercial setting and sizable floor area provide a combination of interior capacity, site area, and parking for a range of operations.
Key Highlights
- Approximately 17,957 square feet of commercial space on 1.77 acres
- Open floor plan with 12‑foot ceilings
- Approximately 81 on‑site parking spaces
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
$107,545
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
8.96%
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%
$2,150,900
$2.2M
Cap Rate 7%
$1,536,357
$1.5M
Cap Rate 9%
$1,194,944
$1.2M
Market Conditions
NOI Build-Up for 17,957 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
$135.8K $7.56/SF
− Vacancy
−$9.2K −$0.51/SF
EGI
$126.5K $7.05/SF
− OpEx
−$19.0K −$1.06/SF
NOI
$107.5K $5.99/SF
Area
Darlington County, SC
Vacancy
6.80%
Lease Rate
$7.56 /SF/Yr
Expense Ratio
15.00%
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%
$2,150,900
Cap Rate 7%
$1,536,357
Cap Rate 9%
$1,194,944
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,677 @ 7.0% cap · market cap 9.39%
Second Best
Warehouse
$1.54M
$1.34M – $1.79M
NOI $107,545 @ 7.0% cap · market cap 8.96%
Theoretical Best
Specialty Retail
$33.21M
$29.06M – $38.75M
NOI $2,324,803 @ 7.0% cap · market cap 193.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Location Intelligence
Trade Area within ½ mile
787
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property with high ceilings, substantial parking, and recent roof improvements near downtown Hartsville.
Where is this retail space located?
The property is located at 331 W Carolina Ave Hartsville, SC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 17,957 square feet of commercial space on 1.77 acres; Open floor plan with 12‑foot ceilings; Approximately 81 on‑site parking spaces
