6.8 AC Development
For Sale
$1,250,000
1710 Spartanburg Hwy, Hendersonville, NC 28792
6.8 AC site suitable for retail, flex, or industrial uses.
Property Size7,200 SF
Lot Size6.80 Acres
Price / SF$173.61
Days on Market499
Property Features for 1710 Spartanburg Hwy
General Information
Standard status
Active
Size
7,200 SF
Lot size
6.80 Acres
Listing Agency:
NAI Allen Tate Beverly-Hanks Commercial
(828) 210-3940
Listed By:
Mark Morris · License #46982
(828) 674-4350
Source:
Exprealty
Added: Apr 9, 2025
Changed: Aug 19
Last Checked: Aug 20 at 12:17PM
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 NAI Allen Tate Beverly-Hanks Commercial
Investment Insights
Based on property information with market context.
This 6.8-acre site presents an outstanding development opportunity for freestanding retail, flex, self-storage, or industrial uses, compatible with CC county zoning. The near-level site features two curb cuts and public utilities. A site plan includes a 7,200 square foot building. The property fronts Spartanburg Highway and is situated midway between Upward Road, noted for retail expansion to the southeast, and South Main Street, the central business district to the northwest. Approximately two acres along the five-lane US 176 are level and outside the floodplain. The surrounding area along this high-traffic gateway from I-26 into downtown Hendersonville features auto dealerships, apartments, mixed retail, and various local eateries and service businesses.
Key Highlights
- 6.8 AC site with CC county zoning suitable for retail, flex, self‑storage, or industrial uses.
- Located on Spartanburg Hwy, a high‑traffic gateway from I‑26 into downtown.
- Approximately 2 acres along US 176 are level and outside the floodplain.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,996
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,779,920
$1.8M
Cap Rate 7%
$1,271,371
$1.3M
Cap Rate 9%
$988,844
$988.8K
Market Conditions
NOI Build-Up for 7,200 SF
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.
Gross rent
$129.6K $18.00/SF
− Vacancy
−$2.5K −$0.34/SF
EGI
$127.1K $17.66/SF
− OpEx
−$38.1K −$5.30/SF
NOI
$89.0K $12.36/SF
Area
Henderson County, NC
Vacancy
1.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,779,920
Cap Rate 7%
$1,271,371
Cap Rate 9%
$988,844
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $88,996 @ 7.0% cap · market cap 7.12%
Second Best
Self Storage
$765.5K
$669.8K – $893.1K
NOI $53,585 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,962 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 28792, NC
35,962
Population
18,121
Households
2
Avg Household Size
44
Median Age
26%
College-Educated
87%
High-School Grad
102.9 sq mi
ZIP Area
349
Density / Sq Mi
$55,066
Median Household Income
$32,312
Median Earnings
$1,131
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 6.8 AC site suitable for retail, flex, or industrial uses.
Where is this commercial land located?
The property is located at 1710 Spartanburg Hwy Hendersonville, NC.
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: 6.8 AC site with CC county zoning suitable for retail, flex, self‑storage, or industrial uses.; Located on Spartanburg Hwy, a **high‑traffic gateway from I‑26 into downtown.**; Approximately 2 acres along US 176 are **level and outside the floodplain.**
