Auto Shop with Vehicle
New
For Sale
$649,900
176 Bomar Street, Inman, SC 29349
COMMERCIAL - Inman, SC
Property Size2,400 SF
Lot Size1.66 Acres
Price / SF$270.79
Days on Market4
Property Features for 176 Bomar Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner
Directions
Take a right onto E Main Street from Asheville Highway, then turn right onto Highway 292. The property will be on the right at the intersection of Highway 292 and Bomar Street.
Subdivision
Inman
Standard status
Active
Size
2,400 SF
Lot size
1.66 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3751
Utilities
Water source
Public
Amenities
air-conditioned private office
two restrooms
vehicle lifts
waste oil drain
three oversized garage doors
Building Details
Flooring type
Concrete
Listing Agency:
Affinity Group Realty
(864) 921-2220
Listed By:
Valentina Ragozinski · License #92182
(864) 921-2220
Added: Aug 5
Changed: Aug 7
Last Checked: Aug 8 at 8:06PM
MLS# 340299
Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This auto shop includes 2,400 square feet of concrete-floored commercial space on a corner lot. The building contains a 375-square-foot air-conditioned private office with a separate entrance, two restrooms, and a shop area fitted with two 10,000-pound vehicle lifts. Three oversized garage doors provide 12-foot clearance, while interior ceilings range from 16 to 18 feet. An existing waste oil drain supports automotive service operations, and public water is available.
Direct access from Highway 292 provides a straightforward connection to the surrounding area. The property also offers on-site parking and has been prepared for a dealer's license, supporting automotive retail or service use. Its configuration combines customer-facing office space with functional shop capacity for an owner-user or automotive operator.
Direct access from Highway 292 provides a straightforward connection to the surrounding area. The property also offers on-site parking and has been prepared for a dealer's license, supporting automotive retail or service use. Its configuration combines customer-facing office space with functional shop capacity for an owner-user or automotive operator.
Key Highlights
- 2,400‑square‑foot auto shop on a corner lot
- Two 10,000‑pound vehicle lifts in the shop area
- Three oversized garage doors with 12‑foot clearance
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
Lease Details
2
Service bays
Yes
Highway access
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Corner-lot automotive facility with dedicated office space, multiple service bays, and dealer-license preparation.
Where is this auto shop located?
The property is located at 176 Bomar Street 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: 2,400‑square‑foot auto shop on a corner lot; Two 10,000‑pound vehicle lifts in the shop area; Three oversized garage doors with 12‑foot clearance
