Building Details

Year Built 2026

Units 1

Tenancy Single

Listing Agency: Oswald Cooke & Associates

Listed By: Catherine Vaughn · License #SC 92715

Source: Crexi

Added: Apr 14 Changed: Aug 8 Last Checked: Jul 24 at 3:56PM

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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 Oswald Cooke & Associates

Investment Insights

Based on property information with market context.

This for-sale retail property is offered on an Absolute NNN basis. The offering is described as specialty/grocery and convenience-oriented retail within the broader retail space category, with consistent population growth referenced in the marketing materials.

The site is located in York County in northern South Carolina along the North Carolina border and is part of the Charlotte MSA. The property is positioned to serve traffic tied to “going home” routes along Wylie Avenue, providing access to an expansive rural residential area. The remarks also indicate no grocery within the trade area.

The provided information cites population growth of 1.38% within a 5-mile area and 5% increases every five years throughout the lease, supporting the stated demand profile.

Key Highlights

• Year built: 2026
• Absolute NNN retail asset
• Located along Wylie Avenue in York County, South Carolina (Charlotte MSA)

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

$123,059

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

6.07%

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%

$2,461,180 $2.5M

Cap Rate 7%

$1,757,986 $1.8M

Cap Rate 9%

$1,367,322 $1.4M

Market Conditions

NOI Build-Up for 9,100 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

$182.4K $20.04/SF

− Vacancy

−$6.6K −$0.72/SF

EGI

$175.8K $19.32/SF

− OpEx

−$52.7K −$5.80/SF

NOI

$123.1K $13.52/SF

Area

York County, SC

Vacancy

3.60%

Lease Rate

$20.04 /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%

$2,461,180

Cap Rate 7%

$1,757,986

Cap Rate 9%

$1,367,322

Alternative Uses

Best Use

Retail

$1.76M

$1.54M – $2.05M (±1% cap)

NOI $123,059 @ 7.0% cap · market cap 6.07%

Second Best

Specialty Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,412 @ 7.0% cap · market cap 6.04%

Theoretical Best

Office A

$2.14M

$1.87M – $2.50M (±1% cap)

NOI $149,797 @ 7.0% cap · market cap 7.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Auto Repair Shop HVAC Service Grocery & Convenience Store Restaurant Pet Store & Service Food Market

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

32

Businesses Nearby

Explore this area Business Placement

Demographics for 29717, SC

1,364

Population

718

Households

1.9

Avg Household Size

41

Median Age

16%

College-Educated

86%

High-School Grad

37.4 sq mi

ZIP Area

36

Density / Sq Mi

$66,186

Median Household Income

$45,161

Median Earnings

$1,114

Median Rent

$160,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

NNN property - Absolute NNN retail asset positioned along Wylie Avenue with no grocery in the immediate trade area.

Where is this nnn property located?

The property is located at 5774 Wylie Ave Hickory Grove, SC.

What is the asking price?

The asking price for this property is $2,028,000.

What are key features of this property?

This property features: Year built: 2026; Absolute NNN retail asset; Located along Wylie Avenue in York County, South Carolina (Charlotte MSA)