201 Main StLancaster, SC 29720

Property Details for 201 Main St

Year built

2000

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

492.00 AC

Property size (Sq ft)

11,680 SF

Zone code

CITY

Property type

Drug stores

APN

0068P-0E-002.00

APU

0068P0E00200

Description

This exceptional mixed-use investment opportunity encompasses four buildings totaling 96,454 square feet of net rentable space in Lancaster, South Carolina's vibrant historic district. Located at 201 S Main St, and encompassing addresses 209-213 S. Main Street, 215-227 S. Main Street, 229 S. Main Street, and 116 Arch Street, this portfolio presents a unique chance to acquire a substantial property with significant redevelopment potential. The buildings, constructed between 1905 and 1949, are situated on a 2.76-acre lot and are zoned B-1, allowing for a variety of uses including creative office, restaurant, and storefront spaces. The property is currently offered for sale at $2,875,000. Individual building sale prices are available upon request. The buildings are in need of renovation, presenting a blank canvas for a creative investor to envision and execute a revitalization project. This prime location offers high visibility and access to the bustling downtown area, promising strong returns on investment for the right buyer. The two-story structures offer a unique blend of historic charm and modern adaptability, making them ideal for a variety of commercial and potentially residential uses. This is a rare opportunity to acquire a significant piece of Lancaster's rich history and shape its future. The property's size and location make it an attractive proposition for developers and investors seeking a substantial project with considerable upside.

• CAP approach

  CAP return

  Valuation

  6%

  $3,696,620

  6.5%

  $3,412,260

  7%

  $3,168,530

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,057,010

  Geo Method

  $2,057,010

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,749,070

  Mixed-Use / Specialty

  $3,361,780

  Hospitality / Lodging

  $2,416,540

  Office

  $3,301,900

  Institutional / Educational

  $3,481,200

  Residential Income

  $4,073,010

  Multifamily

  $5,097,370

  Automotive / Energy

  $2,983,890

  Parking / Income-Based Land

  $1,067,560

  Restaurant / Food Service

  $1,666,710

  Healthcare / Senior Housing

  $3,486,740

Location Insight

City

Lancaster

County

Lancaster

State

South Carolina

Latitude

34.7219

Longitude

-80.7711

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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