East Main Street Commercial
For Sale
$316,500
516 E Main Street, Spartanburg, SC 29302
COMMERCIAL - Spartanburg, SC
Property Size2,125 SF
Lot Size0.04 Acres
Price / SF$148.94
Days on Market187
Property Features for 516 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Central Business District
Directions
Head East from Downtown Spartanburg on E Main Street, cross the N Pine St intersection, and the property is on the left.
Subdivision
Spartanburg
Standard status
Active
Size
2,125 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6288
Utilities
Cooling system
Central Air
Water source
Public
Listing Agency:
Ponce Realty Group
(864) 285-4445
Listed By:
Robert Wall · License #95766
(864) 680-3952
Added: Jan 26
Changed: May 28
Last Checked: Aug 1 at 2:06AM
MLS# 332932
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 commercial property offers 2,125 square feet of space in a high-traffic area on East Main Street, with over 25,000 vehicles passing daily. The functional layout includes a street-level reception area, four offices, two large flex spaces, and two restrooms, along with a lower-level flex space. The property is suitable for retail, professional office, or service-oriented businesses. Located minutes from Converse and Wofford College, the building benefits from strong surrounding activity and proximity to a diverse mix of businesses and restaurants. The property is situated on a 0.04-acre lot. Ongoing redevelopment in the area supports long-term value and demand. This location presents an opportunity for owner-users or investors seeking exposure, flexibility, and a strategic commercial presence in Spartanburg, SC.
Key Highlights
- High‑traffic location on East Main Street with 25,000+ vehicles per day.
- 2,100+\/- SF functional layout** suitable for retail, office, or service businesses.
- Proximity to Converse and Wofford Colleges and diverse businesses/restaurants.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.3k | $18.00 |
| − Vacancy | −$3.3k | −$1.57 |
| EGI | $34.9k | $16.43 |
| − OpEx | −$10.5k | −$4.93 |
| NOI | $24.4k | $11.50 |
2,125 SF · lease $18.00/SF/yr · vacancy 8.70% · expense 30.00%
Alternative Uses
Best Use
Office B
$469.3K
$410.6K – $547.5K
NOI $32,848 @ 7.0% cap · market cap 10.38%
Second Best
Retail
$349.2K
$305.6K – $407.4K
NOI $24,446 @ 7.0% cap · market cap 7.72%
Theoretical Best
Warehouse
$1.65M
$1.44M – $1.92M
NOI $115,478 @ 7.0% cap · market cap 36.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 29302, SC
17,356
Population
8,169
Households
2.1
Avg Household Size
42
Median Age
41%
College-Educated
92%
High-School Grad
50.7 sq mi
ZIP Area
342
Density / Sq Mi
$77,428
Median Household Income
$44,476
Median Earnings
$1,031
Median Rent
$264,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - High-visibility commercial space in a high-traffic area.
Where is this office units located?
The property is located at 516 E Main Street Spartanburg, SC.
What is the asking price?
The asking price for this property is $316,500.
What are key features of this property?
This property features: High‑traffic location on East Main Street with 25,000+ vehicles per day.; 2,100+\/- SF functional layout** suitable for retail, office, or service businesses.; Proximity to Converse and Wofford Colleges and diverse businesses/restaurants.
