Automotive Property with Two-Bay
For Sale
Contact for pricing
118 Rainbow Lake Road, Boiling Springs, SC 29316
Office component includes private offices, reception areas, kitchen, and separate public restrooms.
Property Size1,440 SF
Price / SF$868.06
Days on Market52
Property Features for 118 Rainbow Lake Road
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Blackwell & Co. Realty, Inc.
Listed By:
Mitzi Kirsch · License #SC
(864) 596-0400
Source:
Crexi
Added: Aug 25
Changed: Sep 7
Last Checked: Oct 12 at 5:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Blackwell & Co. Realty, Inc.
Investment Insights
Based on property information with market context.
This automotive property at 118 Rainbow Lake Road includes a 1,440-square-foot front office and a two-bay garage. The office layout provides six private offices, reception areas, a kitchen, and separate public restrooms, with LVP flooring throughout the office area. Public parking is also provided.
The property occupies approximately 0.76 acres in Boiling Springs, South Carolina, and was built in 2018. It is currently operating as a car lot, with improvements that also accommodate automotive service, office, or combined commercial operations.
The property occupies approximately 0.76 acres in Boiling Springs, South Carolina, and was built in 2018. It is currently operating as a car lot, with improvements that also accommodate automotive service, office, or combined commercial operations.
Key Highlights
- Two‑bay garage supports automotive operations
- 1,440‑square‑foot property built in 2018
- Approximately 0.76 acres in Boiling Springs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,444
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,880
$1.3M
Cap Rate 7%
$920,629
$920.6K
Cap Rate 9%
$716,044
$716.0K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$102.0K $70.80/SF
− Vacancy
−$9.9K −$6.87/SF
EGI
$92.1K $63.93/SF
− OpEx
−$27.6K −$19.18/SF
NOI
$64.4K $44.75/SF
Area
Spartanburg County, SC
Vacancy
9.70%
Lease Rate
$70.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,880
Cap Rate 7%
$920,629
Cap Rate 9%
$716,044
Alternative Uses
Best Use
Industrial
$920.6K
$805.6K – $1.07M
NOI $64,444 @ 7.0% cap · market cap 5.16%
Second Best
Retail
$236.6K
$207.1K – $276.1K
NOI $16,565 @ 7.0% cap · market cap 1.33%
Theoretical Best
Warehouse
$1.12M
$978.2K – $1.30M
NOI $78,253 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
596k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Superstores 32%
Shops & Services 17%
Home Improvements & Furnishings 8%
Walmart
Superstores
105,866 visits/mo
0.3 miles
Target
Superstores
83,687 visits/mo
0.3 miles
Chick-fil-A
Dining
40,882 visits/mo
0.0 miles
Lowe's
Home Improvements & Furnishings
39,562 visits/mo
0.3 miles
QuikTrip
Shops & Services
29,424 visits/mo
0.3 miles
Demographics for 29316, SC
29,459
Population
12,202
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
93%
High-School Grad
21.8 sq mi
ZIP Area
1,351
Density / Sq Mi
$75,808
Median Household Income
$44,015
Median Earnings
$1,133
Median Rent
$227,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Automotive property - Office component includes private offices, reception areas, kitchen, and separate public restrooms.
Where is this automotive property located?
The property is located at 118 Rainbow Lake Road Boiling Springs, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑bay garage supports automotive operations; 1,440‑square‑foot property built in 2018; Approximately 0.76 acres in Boiling Springs
