Auto Shop with Vehicle
For Sale
$649,900
176 Bomar Street, Inman, SC 29349
COMMERCIAL/INDUSTRIAL, Inman, SC
Property Size2,400 SF
Lot Size1.66 Acres
Price / SF$270.79
Days on Market38
Property Features for 176 Bomar Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner
Directions
Take a right onto E Main Street from Asheville Highway, then turn right onto Highway 292. The property will be on the right at the intersection of Highway 292 and Bomar Street.
Subdivision
Inman
Standard status
Active
Size
2,400 SF
Lot size
1.66 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3751
Utilities
Water source
Public
Amenities
air-conditioned private office
two restrooms
three oversized garage doors
12-foot clearance
16-18-foot ceilings
waste oil drain
dealer's license prepared
Building Details
Flooring type
Concrete
Listing Agency:
Affinity Group Realty
(864) 921-2220
Listed By:
Valentina Ragozinski · License #15729
(864) 412-4281
Added: Aug 5
Changed: Aug 30
Last Checked: Sep 11 at 7:06AM
MLS# 340299
Copyright © 2026 Spartanburg Association of REALTORS, Inc. 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.
This auto shop property includes a 2,400-square-foot building on 1.66 acres at 176 Bomar Street in Inman, South Carolina. The layout combines a 375-square-foot air-conditioned private office with a separate entrance, two restrooms, and a substantial shop area. Automotive equipment includes two 10,000-pound vehicle lifts, three oversized garage doors with 12-foot clearance, an existing waste-oil drain, and interior heights ranging from 16 to 18 feet. Concrete flooring and public water service are also in place.
The property occupies a corner location with direct access from Highway 292 and includes on-site parking. It is prepared for a dealer’s license and supports automotive repair, oil-change, service, storage, or light industrial operations based on its existing improvements and equipment.
The property occupies a corner location with direct access from Highway 292 and includes on-site parking. It is prepared for a dealer’s license and supports automotive repair, oil-change, service, storage, or light industrial operations based on its existing improvements and equipment.
Key Highlights
- 2,400‑square‑foot building on 1.66 acres
- Two 10,000‑lb vehicle lifts in the shop area
- Three oversized garage doors with 12‑foot clearance
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
$27,609
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
4.25%
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%
$552,180
$552.2K
Cap Rate 7%
$394,414
$394.4K
Cap Rate 9%
$306,767
$306.8K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$39.4K $16.43/SF
− OpEx
−$11.8K −$4.93/SF
NOI
$27.6K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
Lease Rate
$18.00 /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%
$552,180
Cap Rate 7%
$394,414
Cap Rate 9%
$306,767
Alternative Uses
Best Use
Industrial
$1.53M
$1.34M – $1.79M
NOI $107,406 @ 7.0% cap · market cap 16.53%
Second Best
Flex RnD
$1.42M
$1.25M – $1.66M
NOI $99,735 @ 7.0% cap · market cap 15.35%
Theoretical Best
Warehouse
$1.86M
$1.63M – $2.17M
NOI $130,422 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
2
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29349, SC
36,458
Population
15,118
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
76.9 sq mi
ZIP Area
474
Density / Sq Mi
$74,363
Median Household Income
$42,604
Median Earnings
$917
Median Rent
$233,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Corner-site facility with direct Highway 292 access, a dedicated office, multiple restrooms, and on-site parking.
Where is this auto shop located?
The property is located at 176 Bomar Street Inman, SC.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,400‑square‑foot building on 1.66 acres; Two 10,000‑lb vehicle lifts in the shop area; Three oversized garage doors with 12‑foot clearance
