Two-Story Brick Retail/Office
For Sale
Contact for pricing
4 S Main Street, Inman, SC 29349
Two-story brick building with ground-floor retail and upper level suited for office or apartment.
Property Size2,486 SF
Price / SF$279.57
Days on Market115
Property Features for 4 S Main Street
General Information
Standard status
Active
Size
2,486 SF
Property subtype
Mixed Use, Office, Retail
Building Details
Stories
2
Construction
brick
Listing Agency:
Spencer/Hines Properties Spartanburg
Listed By:
Andy Hayes · License #SC 13179
(864) 706-0189
Source:
Crexi
Added: May 14
Changed: Aug 14
Last Checked: Sep 2 at 7:09AM
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 Spencer/Hines Properties Spartanburg
Investment Insights
Based on property information with market context.
For sale investment opportunity in downtown Inman: a 2,486± square-foot, two-story brick building with exposed brick walls and plaster throughout. The ground level is configured for retail use with a wide open space, while the upper level is suitable for office and apartment use.
The property is located at 4 S. Main Street and has high visibility along S. Main Street. It sits across from the start of the new Saluda Grade Rail Trail, offering a prominent streetscape presence. Spartanburg County Tax Map # 1-44-02-171.00.
The property is located at 4 S. Main Street and has high visibility along S. Main Street. It sits across from the start of the new Saluda Grade Rail Trail, offering a prominent streetscape presence. Spartanburg County Tax Map # 1-44-02-171.00.
Key Highlights
- 2486± sq. ft. two‑story brick building
- Ground‑floor retail with wide open space
- Upper level suited for office and/or apartment use
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
$38,428
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
5.53%
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%
$768,560
$768.6K
Cap Rate 7%
$548,971
$549.0K
Cap Rate 9%
$426,978
$427.0K
Market Conditions
NOI Build-Up for 2,486 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
$60.0K $24.12/SF
− Vacancy
−$8.7K −$3.51/SF
EGI
$51.2K $20.61/SF
− OpEx
−$12.8K −$5.15/SF
NOI
$38.4K $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%
$768,560
Cap Rate 7%
$548,971
Cap Rate 9%
$426,978
Alternative Uses
Best Use
Office B
$549.0K
$480.4K – $640.5K
NOI $38,428 @ 7.0% cap · market cap 5.53%
Second Best
Retail
$408.5K
$357.5K – $476.6K
NOI $28,598 @ 7.0% cap · market cap 4.11%
Theoretical Best
Warehouse
$1.93M
$1.69M – $2.25M
NOI $135,096 @ 7.0% cap · market cap 19.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-story brick building with ground-floor retail and upper level suited for office or apartment.
Where is this office units located?
The property is located at 4 S Main Street Inman, SC.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2486± sq. ft. two‑story brick building; Ground‑floor retail with wide open space; Upper level suited for office and/or apartment use
