Spartanburg Auto Shop For
For Sale
Contact for pricing
234 John B White Sr Blvd, Spartanburg, SC 29306
Operating auto shop with four bays near downtown Spartanburg.
Property Size3,600 SF
Price / SF$137.50
Days on Market849
Property Features for 234 John B White Sr Blvd
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Industrial
Listing Agency:
McDaniel & Company
(864) 576-4660
Listed By:
Emma McDaniel Lunning, CCIM · License #SC 126662
Source:
Crexi
Added: Apr 12, 2024
Changed: Aug 8
Last Checked: May 13 at 8:15PM
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 McDaniel & Company
Investment Insights
Based on property information with market context.
The property located at 234 John B White Sr Blvd, Spartanburg, SC, features a 3,600-square-foot building. It includes 4 mechanical bays. The property is situated near the Beacon restaurant and downtown Spartanburg. The business has been operating at this location for 36 years.
Key Highlights
- 3600 Sq Ft Building with 4 mechanical bays
- Operating business with 36 years of history at this location
- Business for sale
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
$41,414
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
8.37%
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%
$828,280
$828.3K
Cap Rate 7%
$591,629
$591.6K
Cap Rate 9%
$460,156
$460.2K
Market Conditions
NOI Build-Up for 3,600 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
$64.8K $18.00/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$59.2K $16.43/SF
− OpEx
−$17.7K −$4.93/SF
NOI
$41.4K $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%
$828,280
Cap Rate 7%
$591,629
Cap Rate 9%
$460,156
Alternative Uses
Best Use
Industrial
$2.30M
$2.01M – $2.69M
NOI $161,110 @ 7.0% cap · market cap 32.55%
Second Best
Retail
$591.6K
$517.7K – $690.2K
NOI $41,414 @ 7.0% cap · market cap 8.37%
Theoretical Best
Warehouse
$2.79M
$2.45M – $3.26M
NOI $195,633 @ 7.0% cap · market cap 39.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
39k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Electronics 2%
QuikTrip
Shops & Services
31,375 visits/mo
0.4 miles
Valero Energy
Shops & Services
2,219 visits/mo
0.4 miles
AutoZone
Shops & Services
2,212 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
1,510 visits/mo
0.2 miles
Metro by T-Mobile
Electronics
589 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ace Towing of Spartanburg LLC — 904 S Church St, Spartanburg, SC 29306
- Spartanburg Tire & Brake — 778 S Church St, Spartanburg, SC 29306
- Elias Tire and Auto — 547 John B White Sr Blvd, Spartanburg, SC 29306
- Taylor Made Towing, Spartanburg, SC — 880 S Irwin Ave, Spartanburg, SC 29306
- TMR - Towing - Spartanburg, SC — 888 S Irwin Ave, Spartanburg, SC 29306
Frequently Asked Questions
What type of property is this?
Auto shop - Operating auto shop with four bays near downtown Spartanburg.
Where is this auto shop located?
The property is located at 234 John B White Sr Blvd Spartanburg, SC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3600 Sq Ft Building with 4 mechanical bays; Operating business with 36 years of history at this location; Business for sale
