Listing Agency: Rinehart Realty Corporation w***@rinehartrealty.com Show Phone

Listed By: Will McWaters · License #97298 Show Phone

Source: Exprealty

Added: Aug 5 Changed: Aug 22 Last Checked: Aug 23 at 6:27AM

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Investment Insights

Based on property information with market context.

This 1,443-square-foot office condominium provides a practical configuration for business use within Heritage Park. The interior includes three private offices, a conference room, reception space, and a kitchenette, creating a complete workplace arrangement for an owner-user or investor. The layout can support office and service-related business operations, subject to applicable requirements.

Located on Charlotte Highway in Lake Wylie, the property places an office condominium within the Charlotte Highway corridor. Its combination of enclosed offices, meeting space, front reception, and kitchenette offers a defined setting for a professional practice or service business. The property is offered for sale.

Key Highlights

• 1,443‑square‑foot office condominium in Heritage Park
• Three private offices and a conference room
• Reception area and kitchenette included

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

$19,227

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

4.52%

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%

$384,540 $384.5K

Cap Rate 7%

$274,671 $274.7K

Cap Rate 9%

$213,633 $213.6K

Market Conditions

NOI Build-Up for 1,443 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

$27.4K $18.96/SF

− Vacancy

−$1.7K −$1.19/SF

EGI

$25.6K $17.77/SF

− OpEx

−$6.4K −$4.44/SF

NOI

$19.2K $13.32/SF

Area

York County, SC

Vacancy

6.30%

Lease Rate

$18.96 /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%

$384,540

Cap Rate 7%

$274,671

Cap Rate 9%

$213,633

Alternative Uses

Best Use

Office B

$274.7K

$240.3K – $320.5K (±1% cap)

NOI $19,227 @ 7.0% cap · market cap 4.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$339.3K

$296.9K – $395.9K (±1% cap)

NOI $23,754 @ 7.0% cap · market cap 5.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

An Elite Salon and Spa Hair Salon TLC Your Way ... Home Health Care Service Wise Computer Consulting, ... IT Consulting Firm Tricia the Barber Barber Shop Dresdow Counseling Services, ... Counselor

Suggested Use

Top Pick Law Firm Hair Salon HVAC Service Nail Salon Parking Lot & Garage Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

78

Businesses Nearby

Explore this area Business Placement

Demographics for 29710, SC

39,272

Population

15,947

Households

2.5

Avg Household Size

41

Median Age

34%

College-Educated

93%

High-School Grad

114.1 sq mi

ZIP Area

344

Density / Sq Mi

$84,558

Median Household Income

$46,479

Median Earnings

$1,396

Median Rent

$330,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Configured with private offices, reception, kitchenette, and a conference room for professional operations.

Where is this office units located?

The property is located at 4371 Charlotte Hwy Lake Wylie, SC.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 1,443‑square‑foot office condominium in Heritage Park; Three private offices and a conference room; Reception area and kitchenette included