Rock Hill Mixed-Use
For Sale
$515,000
624 Saluda Street, Rock Hill, SC 29730
Renovated mixed-use property in Rock Hill's Saluda Street corridor.
Property Size2,100 SF
Price / SF$245.24
Days on Market224
Property Features for 624 Saluda Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
GOLDENEYE REALTY, LLC
(803) 985-7200
Listed By:
GARRETT RAST
Source:
Corcoran
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 7 at 7:17AM
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 GOLDENEYE REALTY, LLC
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in Rock Hill's Saluda Street corridor. It features 2100 square feet of renovated space. The property is zoned "Mixed Use Corridor" (MUC), which allows for various business applications, including office, personal services, and retail. It offers private parking and convenient access to the downtown area, as well as proximity to multiple I-77 access points. The location on Saluda Street provides visibility. The property is currently occupied.
Key Highlights
- 2100 sq ft of renovated space.
- "Mixed Use Corridor" zoning allows for a variety of business uses (office, retail, personal services, etc.).
- Excellent visibility on Saluda Street.
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
$28,398
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
5.51%
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%
$567,960
$568.0K
Cap Rate 7%
$405,686
$405.7K
Cap Rate 9%
$315,533
$315.5K
Market Conditions
NOI Build-Up for 2,100 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
$42.1K $20.04/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$40.6K $19.32/SF
− OpEx
−$12.2K −$5.80/SF
NOI
$28.4K $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%
$567,960
Cap Rate 7%
$405,686
Cap Rate 9%
$315,533
Alternative Uses
Best Use
Retail
$405.7K
$355.0K – $473.3K
NOI $28,398 @ 7.0% cap · market cap 5.51%
Second Best
Office B
$399.7K
$349.8K – $466.4K
NOI $27,981 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$493.8K
$432.1K – $576.2K
NOI $34,569 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,221
Businesses Nearby
Explore this area
Business Placement
Demographics for 29730, SC
57,325
Population
26,209
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
89%
High-School Grad
119.4 sq mi
ZIP Area
480
Density / Sq Mi
$63,122
Median Household Income
$39,484
Median Earnings
$1,234
Median Rent
$239,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Renovated mixed-use property in Rock Hill's Saluda Street corridor.
Where is this mixed-use property located?
The property is located at 624 Saluda Street Rock Hill, SC.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2100 sq ft of renovated space.; "Mixed Use Corridor" zoning allows for a variety of business uses (office, retail, personal services, etc.).; Excellent visibility on Saluda Street.
