Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space on Asheville Highway Title is generated by Realmo AI

    1564 Asheville Hwy, Spartanburg, SC

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space for lease near major universities and downtown.

    Type:RETAIL
    Property size:
    1,200 SF
    Lot size:
    2.00 Acres
    Added:
    Mar 11, 2025
    Days on Market:
    453
    Last Refresh:
    May 19 at 9:42 pm

    Property Features for 1564 Asheville Hwy

    General Information

    Standard status
    Active
    Size
    1,200 SF
    Lot size
    2.00 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1564 Asheville Hwy Contact us

    We can help!

    Listing Contact
    Cortney Carter
    Cortney Carter

    Listing agent Cortney Carter

    Listing office Collett & Associates | Greenville

    Listing date Mar 11, 2025

    Source Moodyscre

    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 Collett & Associates | Greenville

    HighLights

    • High‑traffic location on Asheville Hwy (22,200 VPD)
    • Proximity to Business I‑85 and Downtown Spartanburg
    • Located near USC Upstate, Converse University, and Wofford College
    • Retail space available up to 1,200 SF
    • Diverse co‑tenants including Monterrey Mexican Restaurant, Wing Crave, and H&R Block
    • Close to national retailers/restaurants such as Chick‑fil‑A and Taco Bell

    Overview

    Up to 1,200 square feet of retail space is available for lease. The property is ideally situated off Asheville Highway, a major corridor with a traffic volume of 22,200 vehicles per day, leading from Business I-85 to downtown Spartanburg. It is located near USC Upstate, which has approximately 6,000 students, Converse University with approximately 1,394 students, and Wofford College with approximately 1,770 students. The location offers close proximity to Business I-85 and downtown Spartanburg. Current co-tenants include Monterrey Mexican Restaurant, Wing Crave, Lifestyle Nutrition, H&R Block, Smoker Cabinet, and MedEquip. Nearby retailers and restaurants include Chick-fil-A, Bojangles, Arby’s, Burger King, Taco Bell, Family Dollar, La Unica, Waffle House, and O’Reilly Auto Parts.
    Property Profile Location Intelligence

    Current Use by Public Records

    On Premise Solutions Drug Testing Service Personnel Solutions Inc Employment Agency Smokers Cabinet (Bike/Boat/Book/etc) Store Cleveland Village Business Service Center Wing Crave Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9682
    Latitude
    34.9801

    Nearby Similar for Lease

    • $20 SF/Yr
      7,039 SF

      Premier Medical Office Space Available

      Class A medical office space in Spartanburg's prime location.
      1650 Skylyn Drive, Spartanburg, South Carolina 29307
      View Details
    • $29 SF/Yr
      6,979 SF

      Restaurant Space in Drayton Mills

      Second-generation restaurant space in a historic mixed-use development.
      1802 Drayton Road Suite I, Spartanburg, SC 29307
      View Details
    • $11 SF/Yr
      2,000 SF

      Spartanburg Automotive Shop For Lease

      2,000 SF automotive shop or light industrial space available.
      51A Dexter Rd , Spartanburg , SC 29303
      View Details
    • $15 SF/Yr
      2,046 SF

      Spartanburg Storefront Retail/Office Space

      Renovated 2,046 SF retail/office space in downtown Spartanburg.
      512 E Main St, Spartanburg, SC 29302
      View Details
    • Contact for pricing
      6,000 SF

      6,000 SF Flex Building I-85

      Flex building with lay-down yard fronting I-85.
      50 Fairview Church Rd, Spartanburg, SC 29303
      View Details
    • $20 SF/Yr

      Move-in Ready Furnished Office Space

      Recently renovated, fully furnished office building in a prime location.
      792 John B White Sr Boulevard, Spartanburg, SC 29306
      View Details
    • Contact for pricing
      74,481 SF

      Spartanburg Retail Suites For Lease

      Retail suites available in a high-traffic Spartanburg shopping center.
      2199 Southport Road, Spartanburg, SC 29302
      View Details
    • $28 SF/Yr
      53,571 SF

      Historic Mill Office Space Available

      Creative office space in a vibrant mixed-use community.
      1802 Drayton Road, Suite 140B , Spartanburg, SC 29307
      View Details
    • $700/Mo
      425 SF

      Premier Office Suite For Rent

      Executive office suite in a premier location with ample natural light.
      1451 E Main St, Spartanburg, SC
      View Details
    • $22 SF/Yr
      4,500 SF

      Retail Space with Highway Access

      4,500 SF retail space with flexible terms and visibility.
      2799 Reidville Rd, Spartanburg, SC
      View Details
    • $25 SF/Yr
      444 SF

      Spartanburg Office Space Available

      Office space available for rent in Spartanburg, South Carolina.
      324 E Saint John St, Spartanburg, SC
      View Details
    • $20 SF/Yr
      1,500 SF

      Renovated Office Space Available

      Newly renovated office space in a high-visibility location.
      901 S Pine St, Spartanburg, SC
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for lease near major universities and downtown.
    Where is this retail space located?
    The property is located at 1564 Asheville Hwy Spartanburg, SC.
    What are key features of this property?
    This property features: High‑traffic location on Asheville Hwy (22,200 VPD); Proximity to Business I‑85 and Downtown Spartanburg; Located near USC Upstate, Converse University, and Wofford College
    (864) 752-0302 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Cortney Carter
    Cortney Carter
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1564 Asheville Hwy, Spartanburg, SC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!