Versatile Commercial Property in
449 W Centennial Street, Spartanburg, SC 29303
COMMERCIAL - Spartanburg, SC
Property size:
2,900 SFLot size:
0.50 AcresPrice / SF:
$258/SF- Added:
- Apr 15, 2026
- Days on Market:
- 37
- Last Refresh:
- May 21 at 6:06 pm
Property Features for 449 W Centennial Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 7-07-12-107.00
- Size
- 2,900 SF
- Lot size
- 0.50 Acres
Utilities
- Heating system
- Natural Gas
- Water source
- Public
Building Details
- Building materials
- Brick
Listing agent Michelle Stenersen License #118479 (864) 884-1392
Listing office Laura Simmons & Associates RE Greer, SC (864) 608-1510
Listing date Apr 15, 2026
MLS# 1583969
Copyright © 2026 Greater Greenville Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Versatile commercial property suitable for purchase or lease.
- Prime location minutes from downtown Spartanburg and Cleveland Park with excellent visibility and easy access.
- Approximately 2,900 sq ft on the main level plus a 1,000 sq ft unfinished basement.
- .50‑acre lot with potential for additional usable space in the rear.
- Main level features a reception area, file room, three private offices, and a large open room.
- Unfinished basement offers excellent storage, workshop, or expansion potential.
Overview
This versatile commercial property, located at 449 W Centennial St in Spartanburg, presents an excellent opportunity for purchase or lease. The property features approximately 2,900 sq ft on the main level, complemented by an additional 1,000 sq ft unfinished basement, all situated on a 0.50-acre lot with potential for additional usable space in the rear. The main level is configured with a reception area, a file room, three private offices, and a large open room currently utilized as a church or meeting space. The unfinished basement provides opportunities for storage, a workshop, or expansion. The property is located minutes from downtown Spartanburg and Cleveland Park, offering visibility and accessibility. This property is suitable for office, church, nonprofit, retail, or service users.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$498.1K
NOI $44,828 @ 9.00% cap · cautious / downside scenario
Moderate
$640.4K
NOI $44,828 @ 7.00% cap · market / base-case scenario
Aggressive
$896.6K
NOI $44,828 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| 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 Use Scenarios
Best Use
Office B
$640.4K
$560.4K – $747.1K
NOI $44,828 @ 7.0% cap · market cap 5.99%
Second Best
Retail
$476.6K
$417.0K – $556.0K
NOI $33,361 @ 7.0% cap · market cap 4.45%
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 local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Longitude
- -81.950026
- Latitude
- 34.970352
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Commercial property with flexible opportunities for office, retail, or service.
Where is this office units located?
The property is located at 449 W Centennial Street 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: Versatile commercial property suitable for purchase or lease.; Prime location minutes from downtown Spartanburg and Cleveland Park with excellent visibility and easy access.; Approximately 2,900 sq ft on the main level plus a 1,000 sq ft unfinished basement.
