Medical Office
For Sale
$1,295,000
1250 John B White Sr Boulevard, Spartanburg, SC 29306
Medical office space offered for sale in Spartanburg.
Property Size6,875 SF
Price / SF$188.36
Days on Market69
Property Features for 1250 John B White Sr Boulevard
General Information
Standard status
Active
Size
6,875 SF
Property subtype
Healthcare
Listing Agency:
CBRE | Greenville
(864) 242-6169
Listed By:
Charles Gouch · License #44068
(864) 242-6169
Source:
Cbre
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 6:25PM
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 CBRE | Greenville
Investment Insights
Based on property information with market context.
This 6,875-square-foot property is identified as medical office space and is offered for sale. The asset is located at 1250 John B White Sr Boulevard in Spartanburg, South Carolina 29306.
Key Highlights
- 6,875‑square‑foot medical office property
- Located at 1250 John B White Sr Boulevard
- Spartanburg, SC 29306 address
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
$108,282
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
8.36%
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%
$2,165,640
$2.2M
Cap Rate 7%
$1,546,886
$1.5M
Cap Rate 9%
$1,203,133
$1.2M
Market Conditions
NOI Build-Up for 6,875 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
$211.2K $30.72/SF
− Vacancy
−$30.7K −$4.47/SF
EGI
$180.5K $26.25/SF
− OpEx
−$72.2K −$10.50/SF
NOI
$108.3K $15.75/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
40.00%
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%
$2,165,640
Cap Rate 7%
$1,546,886
Cap Rate 9%
$1,203,133
Alternative Uses
Best Use
Healthcare Medical
$1.55M
$1.35M – $1.80M
NOI $108,282 @ 7.0% cap · market cap 8.36%
Second Best
Office B
$1.52M
$1.33M – $1.77M
NOI $106,273 @ 7.0% cap · market cap 8.21%
Theoretical Best
Warehouse
$5.34M
$4.67M – $6.23M
NOI $373,605 @ 7.0% cap · market cap 28.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29306, SC
16,822
Population
7,618
Households
2.2
Avg Household Size
36
Median Age
21%
College-Educated
83%
High-School Grad
19.5 sq mi
ZIP Area
863
Density / Sq Mi
$38,858
Median Household Income
$30,629
Median Earnings
$913
Median Rent
$159,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Reidville Road Animal Hospital — 1423 John B White Sr Blvd, Spartanburg, SC 29306
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space offered for sale in Spartanburg.
Where is this medical office space located?
The property is located at 1250 John B White Sr Boulevard Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 6,875‑square‑foot medical office property; Located at 1250 John B White Sr Boulevard; Spartanburg, SC 29306 address
