Versatile Commercial Property For
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1306 NE Main St, Simpsonville, SC 29861
Adaptable commercial space with high visibility and convenient highway access.
Property Size2,200 SF
Price / SF$329.55
Days on Market730
Property Features for 1306 NE Main St
General Information
Standard status
Active
Size
2,200 SF
Class
B
Property subtype
Office, Retail
Zoning
R12
Investment Type
Owner/User
Building Details
Year Built
1970
Year Renovated
2022
Stories
1
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices C. Dan Joyner, REALTORS Commercial
Listed By:
Andy Cox · License #SC 113803
(361) 537-9069
Source:
Crexi
Added: Sep 18, 2024
Changed: Sep 15
Last Checked: Sep 16 at 3:00PM
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 Berkshire Hathaway HomeServices C. Dan Joyner, REALTORS Commercial
Investment Insights
Based on property information with market context.
This commercial property offers a versatile floor plan suitable for various business or retail ventures. Its location provides high visibility and convenient access to I-385. The property's layout and location make it potentially suitable for a health and wellness center, a boutique, or other types of businesses. The property size is 2200 square feet.
Key Highlights
- High visibility location
- Proximity to I‑385
- Versatile floor plan
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
$33,834
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
4.67%
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%
$676,680
$676.7K
Cap Rate 7%
$483,343
$483.3K
Cap Rate 9%
$375,933
$375.9K
Market Conditions
NOI Build-Up for 2,200 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
$50.7K $23.04/SF
− Vacancy
−$5.6K −$2.53/SF
EGI
$45.1K $20.51/SF
− OpEx
−$11.3K −$5.13/SF
NOI
$33.8K $15.38/SF
Area
Greenville County, SC
Vacancy
11.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$676,680
Cap Rate 7%
$483,343
Cap Rate 9%
$375,933
Alternative Uses
Best Use
Office B
$483.3K
$422.9K – $563.9K
NOI $33,834 @ 7.0% cap · market cap 4.67%
Second Best
Retail
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$940.0K
$822.5K – $1.10M
NOI $65,798 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office space - Adaptable commercial space with high visibility and convenient highway access.
Where is this office space located?
The property is located at 1306 NE Main St Simpsonville, SC.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: High visibility location; Proximity to I‑385; Versatile floor plan
