Open-Plan Retail
For Sale
Contact for pricing
331 West Carolina Avenue, Hartsville, SC 29550
Commercial zoning, a flexible interior layout, and roof improvements completed within the past two years.
Property Size17,957 SF
Lot Size1.77 Acres
Price / SF$66.83
Days on Market34
Property Features for 331 West Carolina Avenue
General Information
Standard status
Active
Size
17,957 SF
Total Parking Spaces
81
Lot size
1.77 Acres
Property subtype
Retail
Zoning
Commerical
Lease Type
NNN
Additional Details
Clear Height
12 ft
Building Details
Year Built
1962
Year Renovated
2025
Buildings
1
Units
1
Listing Agency:
Brown & Coker Realty
(843) 383-6765
Listed By:
Scott Gauger · License #144241
Source:
Crexi
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 29 at 11:06PM
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 Brown & Coker Realty
Investment Insights
Based on property information with market context.
This 17,957-square-foot commercial building dates to 1962 and occupies 1.77 acres. The interior is arranged around an open floor plan with 12-foot ceilings, providing a substantial single-level footprint for retail, warehouse, distribution, office, fitness, or redevelopment use. The property was formerly used as a grocery store and includes approximately 81 parking spaces. Roof improvements were completed within the past two years.
Located at 331 West Carolina Avenue in Hartsville, the property sits near downtown businesses, restaurants, and shopping. Commercial zoning and its position along West Carolina Avenue add context for evaluating the site’s range of potential commercial applications.
Located at 331 West Carolina Avenue in Hartsville, the property sits near downtown businesses, restaurants, and shopping. Commercial zoning and its position along West Carolina Avenue add context for evaluating the site’s range of potential commercial applications.
Key Highlights
- 17,957 square feet of commercial space on 1.77 acres
- Open floor plan with 12‑foot ceilings
- Approximately 81 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 zoning, a flexible interior layout, and roof improvements completed within the past two years.
Where is this retail space located?
The property is located at 331 West Carolina Avenue 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: 17,957 square feet of commercial space on 1.77 acres; Open floor plan with 12‑foot ceilings; Approximately 81 parking spaces
