Spartanburg Automotive Property for
For Sale
Contact for pricing
432 W Blackstock Rd, Spartanburg, SC 29301
Automotive property with business operations available for purchase in Spartanburg.
Property Size6,080 SF
Price / SF$228.21
Days on Market196
Property Features for 432 W Blackstock Rd
General Information
Standard status
Active
Size
6,080 SF
Property subtype
Business for Sale, Retail
Investment Type
Owner/User
Building Details
Year Built
1995
Year Renovated
2012
Tenancy
Single
Listing Agency:
Matthews
(214) 692-2191
Listed By:
Lee Cordova · License #714883
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 2:48PM
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 Matthews
Investment Insights
Based on property information with market context.
The property located at 432 W Blackstock Rd, Spartanburg, SC 29301 is available for purchase. The property has a size of 6080 square feet. The site's franchised business operations (doing business as Meineke) are also available for purchase. The asking price of $1,387,500 reflects both the business and real estate. The property can also be purchased independently of the business; contact broker for details. The property is suitable for auto shops, automotive properties, retail properties and spaces, and general commercial real estate.
Key Highlights
- Fee simple ownership of the property at 432 W Blackstock Rd, Spartanburg, SC 29301.
- Opportunity to acquire the franchised Meineke business operations along with the real estate.
- Asking price of $1,387,500 includes both the business and real estate.
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
$69,943
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
5.04%
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%
$1,398,860
$1.4M
Cap Rate 7%
$999,186
$999.2K
Cap Rate 9%
$777,144
$777.1K
Market Conditions
NOI Build-Up for 6,080 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
$109.4K $18.00/SF
− Vacancy
−$9.5K −$1.57/SF
EGI
$99.9K $16.43/SF
− OpEx
−$30.0K −$4.93/SF
NOI
$69.9K $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%
$1,398,860
Cap Rate 7%
$999,186
Cap Rate 9%
$777,144
Alternative Uses
Best Use
Industrial
$3.89M
$3.40M – $4.53M
NOI $272,096 @ 7.0% cap · market cap 19.61%
Second Best
Retail
$999.2K
$874.3K – $1.17M
NOI $69,943 @ 7.0% cap · market cap 5.04%
Theoretical Best
Warehouse
$4.72M
$4.13M – $5.51M
NOI $330,403 @ 7.0% cap · market cap 23.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
474k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 34%
Dining 32%
Superstores 20%
Shops & Services 4%
Costco Wholesale
Superstores
93,232 visits/mo
0.4 miles
Belk
Apparel
46,004 visits/mo
0.2 miles
Old Navy
Apparel
32,832 visits/mo
0.4 miles
Dillard's
Apparel
32,258 visits/mo
0.2 miles
Olive Garden
Dining
31,500 visits/mo
0.5 miles
Demographics for 29301, SC
34,531
Population
16,020
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
87%
High-School Grad
27.5 sq mi
ZIP Area
1,256
Density / Sq Mi
$56,606
Median Household Income
$37,761
Median Earnings
$1,126
Median Rent
$200,800
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
- Costco Tire Center — 211 W Blackstock Rd, Spartanburg, SC 29301
- Firestone Complete Auto Care — 250 W Blackstock Rd, Spartanburg, SC 29301
- Primary Automotive — 133 S Blackstock Rd #2553, Spartanburg, SC 29301
- SpeeDee Oil Change & Auto Service — 1484 W O. Ezell Blvd, Spartanburg, SC 29301
- Walmart Auto Care Centers — 141 Dorman Centre Dr, Spartanburg, SC 29301
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with business operations available for purchase in Spartanburg.
Where is this auto shop located?
The property is located at 432 W Blackstock Rd Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,387,500.
What are key features of this property?
This property features: Fee simple ownership of the property at 432 W Blackstock Rd, Spartanburg, SC 29301.; Opportunity to acquire the franchised Meineke business operations along with the real estate.; Asking price of $1,387,500 includes both the business and real estate.
