Automotive Shop with Vehicle
For Sale
$649,900
176 Bomar St, Inman, SC 29349
Corner-lot facility with office, restrooms, oversized garage doors, and automotive service infrastructure.
Property Size2,400 SF
Price / SF$270.79
Days on Market16
Property Features for 176 Bomar St
General Information
Standard status
Active
Size
2,400 SF
Taxes and HOA fees
Annual Taxes
$3,751
Listing Agency:
Affinity Group Realty
(864) 921-2220
Listed By:
Valentina Ragozinski · License #92182
(864) 921-2220
Source:
Exprealty
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 21 at 5:57AM
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 Affinity Group Realty
Investment Insights
Based on property information with market context.
Located at 176 Bomar St in Inman, this automotive shop occupies a 1.5-acre corner parcel with direct Highway 292 access. The 2,400-square-foot building includes a 375-square-foot air-conditioned private office with a separate entrance, two restrooms, and an open shop area. Two 10,000-lb vehicle lifts, an existing waste oil drain, and three oversized garage doors support automotive service operations.
The doors provide 12-foot clearance, while interior ceilings range from 16 to 18 feet. The property includes on-site parking and is prepared for a dealer’s license. Built and maintained by the current owner, the facility can accommodate automotive, service, storage, or light industrial use as supported by its existing improvements.
The doors provide 12-foot clearance, while interior ceilings range from 16 to 18 feet. The property includes on-site parking and is prepared for a dealer’s license. Built and maintained by the current owner, the facility can accommodate automotive, service, storage, or light industrial use as supported by its existing improvements.
Key Highlights
- 1.5‑acre corner lot with direct access from Highway 292
- 2,400 SF building with a 375 SF air‑conditioned private office
- Two 10,000‑lb vehicle lifts and an existing waste oil drain
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
$27,609
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
4.25%
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%
$552,180
$552.2K
Cap Rate 7%
$394,414
$394.4K
Cap Rate 9%
$306,767
$306.8K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$39.4K $16.43/SF
− OpEx
−$11.8K −$4.93/SF
NOI
$27.6K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
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%
$552,180
Cap Rate 7%
$394,414
Cap Rate 9%
$306,767
Alternative Uses
Best Use
Industrial
$1.53M
$1.34M – $1.79M
NOI $107,406 @ 7.0% cap · market cap 16.53%
Second Best
Flex RnD
$1.42M
$1.25M – $1.66M
NOI $99,735 @ 7.0% cap · market cap 15.35%
Theoretical Best
Warehouse
$1.86M
$1.63M – $2.17M
NOI $130,422 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29349, SC
36,458
Population
15,118
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
76.9 sq mi
ZIP Area
474
Density / Sq Mi
$74,363
Median Household Income
$42,604
Median Earnings
$917
Median Rent
$233,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Top Dent And Detail (Ceramic Coating and PDR service) — 310 S 580, Inman, SC 29349
- Viking Repair — 18 S Main St, Inman, SC 29349
Frequently Asked Questions
What type of property is this?
Auto shop - Corner-lot facility with office, restrooms, oversized garage doors, and automotive service infrastructure.
Where is this auto shop located?
The property is located at 176 Bomar St Inman, SC.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1.5‑acre corner lot with direct access from Highway 292; 2,400 SF building with a 375 SF air‑conditioned private office; Two 10,000‑lb vehicle lifts and an existing waste oil drain
