2556 Spartanburg Highway, East Flat Rock, NC 28726

Building Details

Year Built 2019 More

Tenancy Single More

Listing Agency: Lineberry Real Estate

Listed By: Bradford Lineberry · License #TN 361841

Source: Crexi

Added: Oct 19 Changed: Nov 8 Last Checked: Nov 8 at 2:50PM

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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 Lineberry Real Estate

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Investment Insights

Based on property information with market context.

This single-tenant retail property contains 8,320 square feet of lease GLA on a 1.584-acre site. Built in 2019, the building is occupied by Family Dollar under a net lease. The current lease runs through September 30, 2029, with six additional five-year extension periods; each extension is subject to the tenant’s 180-day cancellation notice. The lease assigns certain roof, structural, exterior, and utility repair obligations to the landlord.

The property fronts U.S. 176, also known as Spartanburg Highway, at 2556 Spartanburg Highway in East Flat Rock, North Carolina. Lease provisions govern the landlord’s responsibilities and extension rights.

Key Highlights

• 8,320 SF of lease GLA on a 1.584‑acre site
• Built in 2019 and occupied by Family Dollar
• Frontage on U.S. 176 / Spartanburg Highway

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$102,840

Cap Rate

8.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,056,800 $2.1M

Cap Rate 7%

$1,469,143 $1.5M

Cap Rate 9%

$1,142,667 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,320 SF

Gross rent

$149.8K $18.00/SF

− Vacancy

−$2.8K −$0.34/SF

EGI

$146.9K $17.66/SF

− OpEx

−$44.1K −$5.30/SF

NOI

$102.8K $12.36/SF

Area

Henderson County, NC

Vacancy

1.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,056,800

Cap Rate 7%

$1,469,143

Cap Rate 9%

$1,142,667

Alternative Uses

Best Use

Retail

$1.47M

$1.29M – $1.71M (±1% cap)

NOI $102,840 @ 7.0% cap · market cap 8.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.77M

$2.43M – $3.23M (±1% cap)

NOI $194,089 @ 7.0% cap · market cap 15.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Family Dollar (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Hair Salon Real Estate Agency Auto Parts Store Restaurant Cafe & Coffee Shop Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

146

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Family Dollar Shops & Services

5,336 visits/mo 0.1 miles

Demographics for 28726, NC

3,787

Population

1,450

Households

2.6

Avg Household Size

35

Median Age

9%

College-Educated

79%

High-School Grad

2.5 sq mi

ZIP Area

1,515

Density / Sq Mi

$56,638

Median Household Income

$31,139

Median Earnings

$945

Median Rent

$178,600

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - Built in 2019, the building is occupied by Family Dollar under a net lease.

Where is this nnn property located?

The property is located at 2556 Spartanburg Highway East Flat Rock, NC.

What is the asking price?

The asking price for this property is $1,267,000.

What are key features of this property?

This property features: 8,320 SF of lease GLA on a 1.584‑acre site; Built in 2019 and occupied by Family Dollar; Frontage on U.S. 176 / Spartanburg Highway