Church Facility with Office
New
For Sale
$699,000
449 W Centennial Street, Spartanburg, SC 29303
The main floor has a reception area, private offices, a file room and a large open gathering room.
Property Size3,900 SF
Lot Size0.50 Acres
Price / SF$179.23
Days on Market2
Property Features for 449 W Centennial Street
General Information
Standard status
Active
Size
3,900 SF
Lot size
0.50 Acres
Property subtype
Commercial
Additional Details
Currently Operating
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$3,285
Amenities
Other
Yes
No
Square Feet
Public
21780
.50
0.5
Paved
City Street
Building Details
Buildings
1
Listing Agency:
Noble & Company Realty
(864) 622-1234
Listed By:
Rachael Watson
(864) 444-1830
Source:
Cdanjoyner
Added: Oct 23
Last Checked: Oct 23 at 4:05PM
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 Noble & Company Realty
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Investment Insights
Based on property information with market context.
At 449 W Centennial Street, this church facility offers approximately 2,900 square feet on the main level, arranged with a reception area, file room, three private offices and a large open room. The unfinished basement adds approximately 1,000 square feet for storage or other use. The property occupies a 0.50-acre lot in Spartanburg, and the seller will consider either a sale or lease.
The property is minutes from downtown Spartanburg and Cleveland Park, with access from a city street. Its combination of office rooms, open gathering space and unfinished lower-level area defines the building’s existing configuration.
The property is minutes from downtown Spartanburg and Cleveland Park, with access from a city street. Its combination of office rooms, open gathering space and unfinished lower-level area defines the building’s existing configuration.
Key Highlights
- Approximately 2,900 square feet on the main level
- Three private offices, reception area and file room
- Large open room currently used for gatherings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,286
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,205,720
$1.2M
Cap Rate 7%
$861,229
$861.2K
Cap Rate 9%
$669,844
$669.8K
Market Conditions
NOI Build-Up for 3,900 SF
Gross rent
$94.1K $24.12/SF
− Vacancy
−$13.7K −$3.51/SF
EGI
$80.4K $20.61/SF
− OpEx
−$20.1K −$5.15/SF
NOI
$60.3K $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 Rate 5%
$1,205,720
Cap Rate 7%
$861,229
Cap Rate 9%
$669,844
Alternative Uses
Best Use
Office B
$861.2K
$753.6K – $1.00M
NOI $60,286 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.03M
$2.65M – $3.53M
NOI $211,936 @ 7.0% cap · market cap 30.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 29303, SC
26,793
Population
10,891
Households
2.5
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
32.4 sq mi
ZIP Area
827
Density / Sq Mi
$45,713
Median Household Income
$24,506
Median Earnings
$968
Median Rent
$143,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Church & religious facility - The main floor has a reception area, private offices, a file room and a large open gathering room.
Where is this church & religious facility located?
The property is located at 449 W Centennial Street Spartanburg, SC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 2,900 square feet on the main level; Three private offices, reception area and file room; Large open room currently used for gatherings
