Office and Assembly
449 W Centennial St Spartanburg, SC 29303
For Sale
$749,000
Flexible office layout with an open rear gathering space and an unfinished basement on a sizable lot.
Property Size2,900 SF
Lot Size0.50 Acres
Price / SF$258.28
Days on Market132
Property Features for 449 W Centennial St
General Information
Standard status
Active
Size
2,900 SF
Lot size
0.50 Acres
Listing Agency:
Laura Simmons & Associates RE
(864) 884-1392
Listed By:
Michelle Stenersen · License #118479
(864) 884-1392
Source:
Exprealty
Added: Mar 19
Changed: Jul 10
Last Checked: Jul 26 at 6:52PM
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 Laura Simmons & Associates RE
Investment Insights
Based on property information with market context.
The property at 449 W Centennial Street is a versatile commercial building with approximately 2,900 square feet of main-level space plus an additional 1,000 square feet of unfinished basement. The main level includes a reception area, a file/storage room, and three private offices. Toward the rear, there is a large open gathering space currently used as a church, which can support meetings, training, studio use, or additional interior build-out depending on the next tenant’s needs. An unfinished basement offers room for storage, workshop activity, or other operational uses.
The building sits on a 0.50-acre lot. The remarks also note potential for an additional usable lot behind the building, which may support future expansion or development planning. The property is described as being just around the corner from Downtown Spartanburg and minutes from Cleveland Park, supporting convenient access for office and service users.
This configuration can fit professional offices that need private work areas alongside a larger flexible room for gatherings or instruction. It may also be a practical option for ministry, service businesses, or an operator seeking space that can be adjusted for different day-to-day uses, with the added benefit of basement space for back-of-house operations.
The building sits on a 0.50-acre lot. The remarks also note potential for an additional usable lot behind the building, which may support future expansion or development planning. The property is described as being just around the corner from Downtown Spartanburg and minutes from Cleveland Park, supporting convenient access for office and service users.
This configuration can fit professional offices that need private work areas alongside a larger flexible room for gatherings or instruction. It may also be a practical option for ministry, service businesses, or an operator seeking space that can be adjusted for different day-to-day uses, with the added benefit of basement space for back-of-house operations.
Key Highlights
- Approx. 2,900 sq ft main level plus approx. 1,000 sq ft unfinished basement for storage, workshop, or business use
- Main level includes reception area, file/storage room, and three private offices
- Large open rear gathering space currently used as a church, suited for meetings, training, studio, or additional build‑out
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.9k | $24.12 |
| − Vacancy | −$10.2k | −$3.51 |
| EGI | $59.8k | $20.61 |
| − OpEx | −$14.9k | −$5.15 |
| NOI | $44.8k | $15.46 |
2,900 SF · lease $24.12/SF/yr · vacancy 14.55% · expense 25.00%
Alternative Uses
Best Use
Office B
$640.4K
$560.4K – $747.1K
NOI $44,828 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.25M
$1.97M – $2.63M
NOI $157,593 @ 7.0% cap · market cap 21.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Church & religious facility - Flexible office layout with an open rear gathering space and an unfinished basement on a sizable lot.
Where is this church & religious facility located?
The property is located at 449 W Centennial St Spartanburg, SC.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Approx. 2,900 sq ft main level plus approx. 1,000 sq ft unfinished basement for storage, workshop, or business use; Main level includes reception area, file/storage room, and three private offices; Large open rear gathering space currently used as a church, suited for meetings, training, studio, or additional build‑out
