Flex Space Under
For Sale
$525,000
180 John B White Sr Blvd, Spartanburg, SC 29306
Adaptable commercial building with paved parking and access to a heavily traveled business corridor.
Property Size3,400 SF
Lot Size0.23 Acres
Price / SF$197.07
Days on Market33
Property Features for 180 John B White Sr Blvd
General Information
Standard status
Active
Size
3,400 SF
Lot size
0.23 Acres
Property Condition
Severity
Minor
Evidence
currently under renovation inside
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$416
Building Details
Buildings
1
Building Size
3,400 SF
Listing Agency:
keller williams realty
(864) 207-0835
Listed By:
Dina Napechnik · License #139600
(864) 207-0835
Source:
Exprealty
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 20 at 5:31AM
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 keller williams realty
Investment Insights
Based on property information with market context.
This flex space at 180 John B. White Sr. Blvd. is undergoing interior renovation on approximately 0.23 acres. The adaptable commercial layout can accommodate professional office, retail, or service-oriented operations, providing flexibility for a range of business formats. Paved parking and visible roadway positioning add practical functionality for occupants and visitors.
The property sits along a major commercial route in Spartanburg with convenient access to major highways, retail, restaurants, and surrounding commercial development. Its location combines direct road access with daily traffic exposure, supporting businesses that benefit from a readily identifiable presence.
The property sits along a major commercial route in Spartanburg with convenient access to major highways, retail, restaurants, and surrounding commercial development. Its location combines direct road access with daily traffic exposure, supporting businesses that benefit from a readily identifiable presence.
Key Highlights
- Approximately 0.23 acres
- Interior renovation currently underway
- Flexible layout for office, retail, or service uses
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
$41,180
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
7.84%
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%
$823,600
$823.6K
Cap Rate 7%
$588,286
$588.3K
Cap Rate 9%
$457,556
$457.6K
Market Conditions
NOI Build-Up for 2,664 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
$64.3K $24.12/SF
− Vacancy
−$9.3K −$3.51/SF
EGI
$54.9K $20.61/SF
− OpEx
−$13.7K −$5.15/SF
NOI
$41.2K $15.46/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
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%
$823,600
Cap Rate 7%
$588,286
Cap Rate 9%
$457,556
Alternative Uses
Best Use
Industrial
$1.70M
$1.49M – $1.99M
NOI $119,221 @ 7.0% cap · market cap 22.71%
Second Best
Flex RnD
$1.58M
$1.38M – $1.85M
NOI $110,705 @ 7.0% cap · market cap 21.09%
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,769 @ 7.0% cap · market cap 27.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Balanced
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
- Queen Treats — 256 N Church St, Spartanburg, SC 29306
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with paved parking and access to a heavily traveled business corridor.
Where is this flex space located?
The property is located at 180 John B White Sr Blvd Spartanburg, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 0.23 acres; Interior renovation currently underway; Flexible layout for office, retail, or service uses
