Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    571 E Main St Spartanburg, SC 29301

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,275,000

    4,688 SF building suitable for office or retail use.

    Lot size:
    0.48 Acres

    Property Features for 571 E Main St

    General Information

    Lot size
    0.48 Acres

    We can help!

    Listing Contact
    Ben R. Hines
    Source: Moodyscre

    Listing Agent: Ben R. Hines

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Building Near Converse College

    The Charles Pinckney Wofford House, constructed in 1909 and extensively renovated within the last 10 years, offers approximately 4,688 square feet of space on a 0.48-acre lot. Designed by Atlanta architect Gottfried Norman, the property features multiple rooms suitable for conversion to a professional office. Previous uses include a gift shop and restaurant. The property is located on E. Main Street at the entrance to the Converse Heights neighborhood, directly across from Converse College, and minutes from downtown. It benefits from high visibility with approximately 26,000 vehicles per day. Street parking is available. The property is currently split zoned as LOD (Limited Office District) and R8.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9166745
    Latitude
    34.9537811

    Nearby Similar for Sale

    • New
      $399,000
      0.20 Acres

      New Construction Duplex Near Main

      New construction duplex near Main Street and Hwy 29 in Spartanburg.
      275 Vanderbilt Rd, Spartanburg, SC 29301
      View Details
    • $249,000
      0.44 Acres

      Well-Maintained Duplex in Spartanburg

      Single-level duplex with solid rental history, ideal for investors.
      3030/3028 Benjamin Rd, Spartanburg, SC 29307
      View Details
    • $249,000

      Spartanburg Duplex For Sale

      Duplex in Spartanburg, South Carolina available for purchase.
      3028/3030 Benjamin Rd, Spartanburg, SC 29307
      View Details
    • New
      $374,900
      3,445 SF

      Versatile Commercial Building in Spartanburg

      Adaptable commercial building suitable for office, retail, auto repair, and more.
      250 Cedar Springs Ave, Spartanburg, SC 29302
      View Details
    • New
      $374,900
      0.46 Acres

      Versatile Commercial Building in Spartanburg

      Adaptable commercial building suitable for office, auto repair, or community center.
      250 Cedar Springs Ave, Spartanburg, SC 29302
      View Details
    • New
      $435,000
      0.69 Acres

      New Duplex Near Interstate 85

      2022 duplex with quality finishes, great location, and income potential.
      433 Burns Rd, Spartanburg, SC 29307
      View Details
    • $275,000
      1,006 SF

      Spartanburg Office Space Auction

      Well-positioned office space in Spartanburg, being sold at online auction.
      347 Oak Grove Rd, Spartanburg, SC 29301
      View Details
    • $275,000

      Commercial Property Near Major Hospital

      Strategically located commercial property suited for medical or professional services.
      681 Chesnee Highway Ext, Spartanburg, SC 29303
      View Details
    • $160,000

      Remodeled Duplex in Spartanburg

      Charming duplex with new roof and HVAC units.
      130 Owens St, Spartanburg, SC 29306
      View Details
    • $200,000
      1,300 SF

      Mixed-Use Property in Spartanburg

      Investment opportunity with tenants in place near Spartanburg City Limits.
      170 S Blackstock Rd, Spartanburg, SC 29301
      View Details
    • $200,000
      0.71 Acres

      Spartanburg Multi-Use Investment Opportunity

      Investment property with tenants in place near Spartanburg city limits.
      170 S Blackstock Rd, Spartanburg, SC 29301
      View Details
    • $200,000
      1,800 SF

      Retail and Residential Income Property

      Investment opportunity with retail space and tenant-occupied mobile home.
      170 S Blackstock Rd, Spartanburg, SC 29301
      View Details

    FAQs

    What type of property is this?
    Office space - 4,688 SF building suitable for office or retail use.
    Where is this office space located?
    The property is located at 571 E Main St Spartanburg, SC.
    What is the asking price?
    The asking price for this property is $1,275,000.
    What are key features of this property?
    This property features: - Extensively renovated historic property (Charles Pinckney Wofford House) designed by Atlanta Architect Gottfried Norman.; - High visibility location on E. Main Street with approximately 26,000 vehicles per day (VPD), across from Converse College and at the entrance to Converse Heights.; - Versatile property suitable for residential or commercial use, with potential for professional office conversion.
    (864) 583-1001
    Request Owner's contact information
    571 E Main St Spartanburg, SC 29301
    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.
    571 E Main St
    Spartanburg, SC 29301
    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
    571 E Main St Spartanburg, SC 29301
    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

    We can help!
    Listing Contact
    Ben R. Hines
    Real Estate License ID: SC 13795
    (864) 583-1001
    Learn more
    Google sign-in failed. Please try again or use another login method.