Highway Frontage Automotive/Industrial
For Sale
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2940 S Pine St, Spartanburg, SC 29302
4,300 SF property on 3.82 acres near downtown Spartanburg.
Property Size4,300 SF
Lot Size3.82 Acres
Price / SF$145.35
Days on Market538
Property Features for 2940 S Pine St
General Information
Standard status
Active
Size
4,300 SF
Lot size
3.82 Acres
Property subtype
Mixed Use
Zoning
PR
Building Details
Year Built
1967
Listing Agency:
Taillefer Commercial Group
(770) 663-7291
Listed By:
Bruno Taillefer · License #GA 385446
Source:
Crexi
Added: Feb 19, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 Taillefer Commercial Group
Investment Insights
Based on property information with market context.
Located on Highway 176, this 4,300 SF property offers business potential. The property is permitted for a salvage yard and can be adapted for an auto shop or other industrial uses, making it suitable for businesses in the automotive or heavy equipment industries. It is situated on 3.82 acres, providing room for vehicle storage, operations, or future expansion. The facility features six garage doors, equipped to accommodate large equipment, service vehicles, or a range of repair and storage needs. With visibility along a busy highway and access to major roads, this property offers exposure for business while ensuring customer and supplier access. This property offers the space, accessibility for expanding an auto shop, setting up a salvage yard, or launching an industrial operation.
Key Highlights
- Located on high‑traffic Highway 176, offering excellent visibility and accessibility
- Expansive 4,300 SF property on 3.82 acres, providing ample space for operations and expansion
- Permitted for a salvage yard, offering immediate business potential
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
$56,760
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
9.08%
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%
$1,135,200
$1.1M
Cap Rate 7%
$810,857
$810.9K
Cap Rate 9%
$630,667
$630.7K
Market Conditions
NOI Build-Up for 4,300 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
$103.2K $24.00/SF
− Vacancy
−$12.4K −$2.88/SF
EGI
$90.8K $21.12/SF
− OpEx
−$34.1K −$7.92/SF
NOI
$56.8K $13.20/SF
Area
Spartanburg County, SC
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,135,200
Cap Rate 7%
$810,857
Cap Rate 9%
$630,667
Alternative Uses
Best Use
Industrial
$2.75M
$2.41M – $3.21M
NOI $192,437 @ 7.0% cap · market cap 30.79%
Second Best
Mixed Use
$810.9K
$709.5K – $946.0K
NOI $56,760 @ 7.0% cap · market cap 9.08%
Theoretical Best
Warehouse
$3.34M
$2.92M – $3.89M
NOI $233,673 @ 7.0% cap · market cap 37.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 29302, SC
17,356
Population
8,169
Households
2.1
Avg Household Size
42
Median Age
41%
College-Educated
92%
High-School Grad
50.7 sq mi
ZIP Area
342
Density / Sq Mi
$77,428
Median Household Income
$44,476
Median Earnings
$1,031
Median Rent
$264,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 4,300 SF property on 3.82 acres near downtown Spartanburg.
Where is this mixed-use property located?
The property is located at 2940 S Pine St Spartanburg, SC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Located on high‑traffic Highway 176, offering excellent visibility and accessibility; Expansive 4,300 SF property on 3.82 acres, providing ample space for operations and expansion; Permitted for a salvage yard, offering immediate business potential
