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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    198 Cherry Rd Rock Hill, SC 29732

    • Commercial real estate
    • 5,880 SF
    • 1.00 lot acres
    For Sale
    View listing
    Last Sale
    May 11, 2022
    $420,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1921742
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • M L Tires Auto Repair / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 198 Cherry Rd

    Year built
    1940
    Lot size
    1.00 lot acres
    Property size
    5,880 SF
    Property type
    Commercial real estate
    APN
    596-02-01-001
    APU
    5960201001

    Description

    This exceptional commercial property, located at 198 Cherry Rd in Rock Hill, South Carolina, presents a unique opportunity for businesses seeking versatile office space. The 18,000 square foot building sits on a 1.38-acre lot and offers multiple tenancy options, with a minimum divisible space of 10,000 square feet. Built in 1945, the single building structure boasts ample parking with 135 spaces available for tenants and their clients. The property is zoned for retail, office, and restaurant uses, providing flexibility for a variety of businesses. The building's current configuration includes several options for lease, including a 3,120 square foot space, a 4,300 square foot space, a 1,200 square foot space, and an existing 5,880 square foot space. This prime location in York County, with easy access to downtown Rock Hill (zip code 29733), offers excellent visibility and convenient access to major transportation routes. The property's size and flexible layout make it ideal for a range of businesses seeking a prominent presence in a thriving South Carolina community. This is a rare opportunity to secure a substantial and well-located office space in a desirable market. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rock Hill
    County
    York
    State
    South Carolina
    Longitude
    -81.0396
    Latitude
    34.9396
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,751
    $18,626
    $3,374
    $22,000
    -
    $310,440
    $56,236
    $366,676

    Comparable in this City

    • Value Estimation
      $880,000
      6,550 SF

      1029 Camden Ave

      COMMERCIAL (GENERAL) • 6,550 SF
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      View Details
    • Value Estimation
      $3,310,000
      49,696 SF

      2685 Celanese Rd

      COMMERCIAL (GENERAL) • 49,696 SF
      2685 Celanese Rd, Rock Hill, SC 29732-2991
      View Details
    • Value Estimation
      $595,000
      5,850 SF

      1633 Celanese Rd

      COMMERCIAL (GENERAL) • 5,850 SF
      1633 Celanese Rd, Rock Hill, SC 29732-1728
      View Details
    • Value Estimation
      $740,000
      5,443 SF

      2691 Celanese Rd

      COMMERCIAL (GENERAL) • 5,443 SF
      2691 Celanese Rd, Rock Hill, SC 29732-1205
      View Details
    • Value Estimation by Request
      2,024 SF

      1144 India Hook Rd E E Ste

      COMMERCIAL (GENERAL) • 2,024 SF
      1144 India Hook Rd E E Ste, Rock Hill, SC 29732-2400
      View Details
    • Value Estimation
      $635,000
      4,600 SF

      1785 Mt Gallant Rd

      COMMERCIAL (GENERAL) • 4,600 SF
      1785 Mt Gallant Rd, Rock Hill, SC 29732-1740
      View Details

    Similar Nearby for Sale

    • $1,895,000
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      Rock Hill Commercial Land - $1.895M

      1.65 Acres, High-Traffic Location, Prime Development Site
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      1.50 Acres

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    • $360,000
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      4.80 Acres

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    Similar Nearby for Lease

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    • $5,900,000
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      Rock Hill Retail Opportunity

      Former bank building with subdivision potential and ample parking.
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    • $6,000 /Mo

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      Redevelopment site with excellent access near Cherry Road Crossing.
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    • $2,200 /Mo
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      Office/Retail Space with Garage Storage

      Office or retail space with garage storage available for rent.
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      View Details
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    198 Cherry Rd
    Rock Hill, SC 29732
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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