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860 W Main St 4,224 SF 100% Leased Flex Building Spartanburg, SC 29301 $649,000 ($153.65/SF) 11.70% Cap Rate
Executive Summary
Turnkey income-producing property - five fully leased garage bays plus 10 paved parking spaces, generating $8,900 per month in gross rental income.
Strong cap rate of approximately 11.7% on the asking price, well above typical small-bay industrial returns.
Sale includes both the real estate and the established rental operation - tenants, leases, and income transfer with the property.
Each of the five bays is identical in size (15' x 40') with its own private drive-in roll-up door, allowing flexible leasing to separate tenants.
1.5-acre lot provides ample paved parking, room for outdoor storage, and potential for future expansion.
Located on W Main St in Spartanburg, SC - a growing Upstate South Carolina market with strong demand for small-bay industrial and flex space.
One bay is scheduled to come available within three weeks, giving a new owner immediate flexibility to reset that unit at current market rent or occupy it for owner-use. 1 acre price is $649,000. New roof and fully renovated.
Strong cap rate of approximately 11.7% on the asking price, well above typical small-bay industrial returns.
Sale includes both the real estate and the established rental operation - tenants, leases, and income transfer with the property.
Each of the five bays is identical in size (15' x 40') with its own private drive-in roll-up door, allowing flexible leasing to separate tenants.
1.5-acre lot provides ample paved parking, room for outdoor storage, and potential for future expansion.
Located on W Main St in Spartanburg, SC - a growing Upstate South Carolina market with strong demand for small-bay industrial and flex space.
One bay is scheduled to come available within three weeks, giving a new owner immediate flexibility to reset that unit at current market rent or occupy it for owner-use. 1 acre price is $649,000. New roof and fully renovated.
Property Facts
| Price | $649,000 | Lot Size | 1.00 AC |
| Price Per SF | $153.65 | Rentable Building Area | 4,224 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 11.70% | Year Built | 1951 |
| Property Type | Flex | Parking Ratio | 17.76/1,000 SF |
| Property Subtype | Light Distribution | No. Dock-High Doors/Loading | 7 |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | CI - Commercial Industrial | ||
| Price | $649,000 |
| Price Per SF | $153.65 |
| Sale Type | Investment |
| Cap Rate | 11.70% |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | C |
| Lot Size | 1.00 AC |
| Rentable Building Area | 4,224 SF |
| No. Stories | 1 |
| Year Built | 1951 |
| Parking Ratio | 17.76/1,000 SF |
| No. Dock-High Doors/Loading | 7 |
| Opportunity Zone |
Yes |
| Zoning | CI - Commercial Industrial |
Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Front Loading
- Security System
- Storage Space
- Smoke Detector
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 7-11-16-008.00 | Improvements Assessment | $6,864 |
| Land Assessment | $5,136 | Total Assessment | $12,000 |
Property Taxes
Parcel Number
7-11-16-008.00
Land Assessment
$5,136
Improvements Assessment
$6,864
Total Assessment
$12,000
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860 W Main St