Established Advance Auto Parts
For Sale
Contact for pricing
2050 East Main Street, Spartanburg, SC 29307
Single-tenant NNN investment opportunity in a growing market.
Property Size8,075 SF
Lot Size0.88 Acres
Price / SF$198.14
Days on Market105
Property Features for 2050 East Main Street
General Information
Standard status
Active
Size
8,075 SF
Class
B
Total Parking Spaces
36
Lot size
0.88 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1994
Tenancy
Single
Listing Agency:
NAI Earle Furman Spartanburg
(864) 398-4444
Listed By:
Brian Hammond · License #SC
Source:
Crexi
Added: May 18
Changed: Aug 22
Last Checked: Aug 29 at 9:34PM
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 NAI Earle Furman Spartanburg
Investment Insights
Based on property information with market context.
Located on East Main Street in Spartanburg, this single-tenant property is an Advance Auto Parts location with operations dating back to 1994. The building has a size of approximately 8,075 square feet and is situated on approximately 0.88 acres. The property experiences high traffic volume, with approximately 26,500 vehicles per day. The property offers stable net-net-net (NNN) lease income with renewal options. The site benefits from visibility, convenient access, and a built-in customer base in a growing market. The property is positioned within a densely populated trade area and surrounded by residential growth.
Key Highlights
- Established Advance Auto Parts location operating since 1994
- Stable NNN lease income with renewal options
- High traffic location on East Main Street with approximately 26,500 VPD
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
$92,893
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
5.81%
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%
$1,857,860
$1.9M
Cap Rate 7%
$1,327,043
$1.3M
Cap Rate 9%
$1,032,144
$1.0M
Market Conditions
NOI Build-Up for 8,075 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
$145.4K $18.00/SF
− Vacancy
−$12.6K −$1.57/SF
EGI
$132.7K $16.43/SF
− OpEx
−$39.8K −$4.93/SF
NOI
$92.9K $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%
$1,857,860
Cap Rate 7%
$1,327,043
Cap Rate 9%
$1,032,144
Alternative Uses
Best Use
Industrial
$5.16M
$4.52M – $6.02M
NOI $361,378 @ 7.0% cap · market cap 22.59%
Second Best
Retail
$1.33M
$1.16M – $1.55M
NOI $92,893 @ 7.0% cap · market cap 5.81%
Theoretical Best
Warehouse
$6.27M
$5.49M – $7.31M
NOI $438,816 @ 7.0% cap · market cap 27.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
68k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 35%
Groceries 34%
Shops & Services 24%
Electronics 5%
The Home Depot
Home Improvements & Furnishings
23,771 visits/mo
0.4 miles
Ingles
Groceries
22,646 visits/mo
0.1 miles
Dollar General
Shops & Services
5,688 visits/mo
0.2 miles
Speedway
Shops & Services
5,682 visits/mo
0.0 miles
Verizon
Electronics
3,357 visits/mo
0.5 miles
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walmart Auto Care Centers — 2151 E Main St, Spartanburg, SC 29307
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant NNN investment opportunity in a growing market.
Where is this auto shop located?
The property is located at 2050 East Main Street Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Established Advance Auto Parts location operating since 1994; Stable NNN lease income with renewal options; High traffic location on East Main Street with approximately 26,500 VPD
