Highway 11 Flea
For Sale
$1,200,000
4265 South Carolina 11, Westminster, SC 29693
Multi-use commercial property with income potential on high-traffic highway.
Property Size15,000 SF
Price / SF$80
Days on Market273
Property Features for 4265 South Carolina 11
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Retail
Listing Agency:
SVN Second Story Real Estate Management- Atlanta
(770) 557-5206
Listed By:
Jake Creviston · License #GA #365989
(770) 557-5206
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 20 at 5:28AM
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 Second Story Real Estate Management- Atlanta
Investment Insights
Based on property information with market context.
Located on South Carolina Highway 11, this multi-use commercial property in Westminster, SC, currently operates as a flea market. The property features covered vendor stalls, open-air spaces, and enclosed retail areas, offering options for expansion, reconfiguration, or redevelopment. The flea market has a history of regular weekend traffic and established vendor relationships. The property also includes 8 mobile homes and 6 storage units. The property is located along a scenic byway that runs through the foothills of the Blue Ridge Mountains, benefiting from regional traffic and visibility, attracting local residents and tourists exploring nearby outdoor attractions such as Lake Hartwell, Oconee State Park, Sumter National Forest, and the Chattooga River. The flea market has one electric meter, and all mobile homes pay their own electric bill. The property is on well water and has 10 septic tanks. The property size is 15000 square feet and sits on 9 acres. The property is ideal for continued use, expansion, or redevelopment.
Key Highlights
- Income‑producing property with established flea market, mobile home rentals, and storage unit rentals.
- Highly visible frontage on high‑traffic Highway 11, a designated scenic byway.
- Operating flea market with long‑term vendor presence, offering immediate income potential.
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
$49,663
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
4.14%
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%
$993,260
$993.3K
Cap Rate 7%
$709,471
$709.5K
Cap Rate 9%
$551,811
$551.8K
Market Conditions
NOI Build-Up for 15,000 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
$78.9K $5.26/SF
− Vacancy
−$8.0K −$0.53/SF
EGI
$70.9K $4.73/SF
− OpEx
−$21.3K −$1.42/SF
NOI
$49.7K $3.31/SF
Area
Oconee County, SC
Vacancy
10.08%
Lease Rate
$5.26 /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%
$993,260
Cap Rate 7%
$709,471
Cap Rate 9%
$551,811
Alternative Uses
Best Use
Retail
$2.60M
$2.28M – $3.04M
NOI $182,196 @ 7.0% cap · market cap 15.18%
Second Best
Self Storage
$2.05M
$1.80M – $2.39M
NOI $143,640 @ 7.0% cap · market cap 11.97%
Theoretical Best
Office A
$3.77M
$3.29M – $4.39M
NOI $263,578 @ 7.0% cap · market cap 21.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 29693, SC
14,614
Population
8,002
Households
1.8
Avg Household Size
45
Median Age
17%
College-Educated
83%
High-School Grad
173.4 sq mi
ZIP Area
84
Density / Sq Mi
$51,384
Median Household Income
$37,334
Median Earnings
$838
Median Rent
$168,600
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Strip mall - Multi-use commercial property with income potential on high-traffic highway.
Where is this strip mall located?
The property is located at 4265 South Carolina 11 Westminster, 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: Income‑producing property with established flea market, mobile home rentals, and storage unit rentals.; Highly visible frontage on high‑traffic Highway 11, a designated scenic byway.; Operating flea market with long‑term vendor presence, offering immediate income potential.
