Automotive Workshop with Covered
For Sale
$650,000
5229 Augusta Highway, Leesville, SC 29070
LOTS AND ACREAGE, Leesville, SC
Property Size7,000 SF
Lot Size2.96 Acres
Price / SF$92.86
Days on Market117
Property Features for 5229 Augusta Highway
General Information
Property type
Land
Property subtype
Other
Zoning
ID / RD
Directions
5229 AUGUSTA HWY GPS
Subdivision
Rural W Lexington Co - Batesburg etc
Standard status
Active
Lot size
2.96 Acres
Utilities
Water source
Well
Amenities
covered storage
live/work space
upstairs quarters/office
premium vinyl siding
HD metal roofing
insulated commercial overhead doors
finished walls
reinforced commercial-grade flooring
LED lighting
expansive open workspace
downstairs office/living/break area
full bath
private well
septic
ample parking
two automotive lifts
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
(803) 903-5263
Added: Jun 1
Changed: Sep 24
Last Checked: Sep 25 at 4:06AM
MLS# 635394
Copyright © 2026 Consolidated MLS, SC. 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 automotive property includes approximately 7,000 SF of work, covered storage, and live/work space on 2.96 acres. The 80' x 50' main building has four insulated 12' commercial overhead doors, reinforced commercial-grade flooring, finished walls, and LED lighting. Interior space includes an open work area, a downstairs office/living/break area with a full bath, and upstairs quarters or office space. Two automotive lifts convey.
Covered improvements include an 18' x 80' lean-to and an 18' x 30' lean-to, each with 14' clearance, as well as a 24' x 24' open-span pole building with 13' clearance. The property is along Augusta Highway and has a private well and septic system. Zoning is ID, with residential use currently permitted.
Covered improvements include an 18' x 80' lean-to and an 18' x 30' lean-to, each with 14' clearance, as well as a 24' x 24' open-span pole building with 13' clearance. The property is along Augusta Highway and has a private well and septic system. Zoning is ID, with residential use currently permitted.
Key Highlights
- Approximately 7,000 SF of automotive work, covered storage, and live/work space on 2.96 acres
- 80' x 50' main building with four insulated 12' overhead doors
- 18' x 80' and 18' x 30' lean‑tos, both with 14' clearance
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
$43,293
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
6.66%
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%
$865,860
$865.9K
Cap Rate 7%
$618,471
$618.5K
Cap Rate 9%
$481,033
$481.0K
Market Conditions
NOI Build-Up for 7,000 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
$66.4K $9.48/SF
− Vacancy
−$4.5K −$0.64/SF
EGI
$61.8K $8.84/SF
− OpEx
−$18.6K −$2.65/SF
NOI
$43.3K $6.18/SF
Area
Lexington County, SC
Vacancy
6.80%
Lease Rate
$9.48 /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%
$865,860
Cap Rate 7%
$618,471
Cap Rate 9%
$481,033
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,859 @ 7.0% cap · market cap 14.44%
Second Best
Mixed Use
$1.04M
$905.6K – $1.21M
NOI $72,450 @ 7.0% cap · market cap 11.15%
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,600 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Service bays
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29070, SC
15,757
Population
7,733
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
87%
High-School Grad
164.1 sq mi
ZIP Area
96
Density / Sq Mi
$64,833
Median Household Income
$40,857
Median Earnings
$939
Median Rent
$188,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - A live/work configuration combines open shop space, office and living areas, and multiple covered work or storage areas.
Where is this auto shop located?
The property is located at 5229 Augusta Highway Leesville, SC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 7,000 SF of automotive work, covered storage, and live/work space on 2.96 acres; 80' x 50' main building with four insulated 12' overhead doors; 18' x 80' and 18' x 30' lean‑tos, both with 14' clearance
