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    Downtown Retail Building with Two Tenants Title is generated by Realmo AI

    516 & 514 N Main Street, Marion, SC 29571

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    For Sale
    $245,000

    COMMERCIAL - Marion, SC

    Property size:
    2,662 SF
    Price / SF:
    $92/SF
    Added:
    Jan 28, 2026
    Days on Market:
    126
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 516 & 514 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,662 SF

    Taxes and HOA fees

    Tax Annual Amount
    1450

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1962
    Building materials
    Brick and Block

    We can help!

    Listing Contact
    Abigail Calder

    Listing agent Abigail Calder License #40624

    Listing office First Charter Co Inc 204 N Main St, Marion, SC

    Listing date Jan 28, 2026

    MLS# 20250180

    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.

    HighLights

    • Commercial retail building built in 1962 with brick and block construction
    • Approximately 2,662 SF total building area divided into two leased spaces
    • 12' ceilings on the main level
    • Unfinished 2nd floor is approximately 2,000 SF with four separate rooms and shared open space
    • Central air cooling
    • Located in the heart of downtown Marion

    Overview

    This retail building totals approximately 2,662 square feet and is divided into two leased spaces. The main level features 12' ceilings, and an unfinished second floor adds significant flexibility, with approximately 2,000 square feet available and laid out as four separate rooms plus an open shared space.

    Located at 516 & 514 N Main Street in Marion, South Carolina, the property is positioned in the downtown area. The second-floor space is currently unfinished, offering an interior configuration that can be adapted to future needs depending on how the space is developed.

    For buyers seeking an ownership structure that includes existing leased retail space, this property provides income-producing units while preserving the ability to plan for the second floor. The combination of two tenant areas, tall ceilings on the primary level, and a multi-room unfinished upper layout can support a variety of retail-adjacent or service-oriented plans once the upper level is finished. Please schedule an appointment for details and to review the spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Southern Finance Loan Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Marion
    State
    South Carolina
    Longitude
    -79.40064
    Latitude
    34.173039

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    FAQs

    What type of property is this?
    Retail space - Two leased retail spaces plus unfinished second-floor rooms provide flexible options for a new owner.
    Where is this retail space located?
    The property is located at 516 & 514 N Main Street Marion, SC.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: Commercial retail building built in 1962 with brick and block construction; Approximately 2,662 SF total building area divided into two leased spaces; 12' ceilings on the main level
    (888) 431-1212
    We can help!
    Listing Contact
    Abigail Calder
    Real Estate License ID: 40624
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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