Building Details

Floors in Building 1

Roof type Metal

Listing Agency: South Carolina Realty c***@reagan.com Show Phone

Listed By: Melissa Sprouse · License #27433 Show Phone

Added: Jan 13 Changed: Aug 19 Last Checked: Aug 29 at 4:06PM

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MLS# 624998

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.

Built in 2016, this 2,800-square-foot restaurant property occupies 0.59 acres at 8291 Savannah Highway in Norway, South Carolina. The building includes a commercial fire-suppression hood, walk-in cooler and freezer, Vulcan six-burner range with ovens and griddle, fryers, flat-top grill, prep stations, display and grab-and-go coolers, ice makers, dry storage, office space, security system, and dining furniture. Central air and a metal roof are also in place.

The property is zoned Commercial and provides approximately 50 parking spaces, a lighted roadside sign, and access from Savannah Highway. The existing configuration supports restaurant operations, while the installed equipment and interior areas provide a foundation for other food-service or retail uses. Business inventory does not convey; real estate and installed equipment convey as specified by the seller.

Key Highlights

• 2,800‑square‑foot restaurant building constructed in 2016
• 0.59‑acre property with approximately 50 parking spaces
• Commercial fire‑suppression hood, walk‑in cooler, and walk‑in freezer

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

$16,558

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

5.93%

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%

$331,160 $331.2K

Cap Rate 7%

$236,543 $236.5K

Cap Rate 9%

$183,978 $184.0K

Market Conditions

NOI Build-Up for 2,800 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

$26.9K $9.60/SF

− Vacancy

−$3.2K −$1.15/SF

EGI

$23.7K $8.45/SF

− OpEx

−$7.1K −$2.53/SF

NOI

$16.6K $5.91/SF

Area

Orangeburg County, SC

Vacancy

12.00%

Lease Rate

$9.60 /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%

$331,160

Cap Rate 7%

$236,543

Cap Rate 9%

$183,978

Alternative Uses

Best Use

Specialty Retail

$405.6K

$354.9K – $473.3K (±1% cap)

NOI $28,395 @ 7.0% cap · market cap 10.18%

Second Best

Retail

$236.5K

$207.0K – $276.0K (±1% cap)

NOI $16,558 @ 7.0% cap · market cap 5.93%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Three Saucers LLC Grocery & Convenience Store

Suggested Use

Top Pick Auto Parts Store Grocery & Convenience Store Florist Pharmacy Food Market Wine and Liquor 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.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Commercial hood

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

3k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Family Dollar Shops & Services

3,172 visits/mo 0.2 miles

Demographics for 29113, SC

1,384

Population

841

Households

1.6

Avg Household Size

45

Median Age

13%

College-Educated

82%

High-School Grad

41.5 sq mi

ZIP Area

33

Density / Sq Mi

$50,455

Median Household Income

$41,100

Median Earnings

$863

Median Rent

$88,000

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

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

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Commercial restaurant property with established food-service infrastructure, customer parking, and direct access from Savannah Highway.

Where is this conventional restaurant located?

The property is located at 8291 Savannah Highway Norway, SC.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: 2,800‑square‑foot restaurant building constructed in 2016; 0.59‑acre property with approximately 50 parking spaces; Commercial fire‑suppression hood, walk‑in cooler, and walk‑in freezer