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    Spartanburg Commercial Corner Lot Opportunity Title is generated by Realmo AI

    11 Front Street, Spartanburg, SC 29301

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    Claim this Listing
    Pending
    $4,750,000

    COMMERCIAL - Spartanburg, SC

    Property size:
    92,000 SF
    Lot size:
    24.50 Acres
    Added:
    Jun 6, 2025
    Days on Market:
    343
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 11 Front Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    6-18-02-103.00
    Size
    92,000 SF
    Lot size
    24.50 Acres

    Taxes and HOA fees

    Tax Description
    W SIDE FRONT ST & N SIDE JUDD ST PB 153-808 DB 67C-853 DB 75K-10 DB 87Y-472

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1906

    We can help!

    Listing Contact
    Robbie Bentley

    Listing agent Robbie Bentley License #114546

    Listing office Bentley Realty 616 N. Main Street, Kannapolis, SC

    Listing date Jun 6, 2025

    MLS# 4264983 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location with high visibility, less than 1 mile to I‑85 and I‑26
    • Potential for various Tax Credits & Incentives
    • 27 +/- acre corner lot commercial property
    • Existing income of $22,000 per year from Philips Conco monitoring well sites
    • Approx. 92,000 sq ft of warehouses and buildings
    • Two fire ponds (2+/- acres and 5+/- acres) with established natural habitat

    Overview

    This commercial property, situated on a corner lot, spans approximately 27 acres and was formerly the Saxon Mill Textile Plant. It presents an opportunity for both owners and investors, with prime location and visibility less than 1 mile from I-85 and I-26, and two blocks from the Methodist University. The site is also located approximately 2 miles from Spartanburg Mall, the hospital, Wofford University, and Converse College. The property may qualify for various tax credits and incentives, including New Market Tax, South Carolina Textile Communities Revitilization Act, Historic Preservation Tax Incentive, Federal Income Tax Credit for Low Income House, and State Historic Rehabilitation Tax Credit. Commercial utilities are available. The acreage includes two fire ponds, one approximately 2 acres and another approximately 5 acres, with established natural habitats. Philips Conco monitors well sites on the property, providing an annual income of $22,000 to the owner. The property includes approximately 92,000 square feet of warehouses and a 50x100 shop, along with additional buildings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Hotel & Motel Auto Parts Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.969064
    Latitude
    34.961358

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    FAQs

    What type of property is this?
    Warehouse - 27-acre commercial property near I-85 and I-26 in Spartanburg.
    Where is this warehouse located?
    The property is located at 11 Front Street Spartanburg, SC.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: Prime location with high visibility, less than 1 mile to I‑85 and I‑26; Potential for various Tax Credits & Incentives; 27 +/- acre corner lot commercial property
    (704) 202-3659
    We can help!
    Listing Contact
    Robbie Bentley
    Real Estate License ID: 114546
    Learn More
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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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