Mixed-Use Retail/Office
For Sale
Contact for pricing
453 Union St, Spartanburg, SC 29306
Flexible commercial space near the Mary Black Rail Trail and downtown Spartanburg.
Property Size2,170 SF
Price / SF$184.33
Days on Market54
Property Features for 453 Union St
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Retail, Office
Building Details
Buildings
1
Building Size
2,170 SF
Listing Agency:
SVN Palmetto
Listed By:
Chris Philbrick · License #SC 135680
(864) 631-3419
Source:
Crexi
Added: Sep 3
Changed: Oct 26
Last Checked: Oct 26 at 3:25PM
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 SVN Palmetto
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Investment Insights
Based on property information with market context.
This ±2,170 SF mixed-use building combines retail and office space in a flexible interior configuration. The property can accommodate retail, office, or service-oriented uses, with the opportunity for an owner-user or investor to complete improvements tailored to its operating plan.
Located at 453 Union Street, the building is just steps from the Mary Black Rail Trail and within walking distance of downtown Spartanburg and Little River Roasting Co. Nearby development includes Boxcar Apartments, a 174-unit mixed-use project, The Fitzgerald apartments, and the planned Power Up Spartanburg Retail/Restaurant Incubator at 351 E. Henry St. That incubator is designed as a nine-unit, container-style development supporting small-business retail and dining concepts along the trail.
Located at 453 Union Street, the building is just steps from the Mary Black Rail Trail and within walking distance of downtown Spartanburg and Little River Roasting Co. Nearby development includes Boxcar Apartments, a 174-unit mixed-use project, The Fitzgerald apartments, and the planned Power Up Spartanburg Retail/Restaurant Incubator at 351 E. Henry St. That incubator is designed as a nine-unit, container-style development supporting small-business retail and dining concepts along the trail.
Key Highlights
- ±2,170 SF retail/office building
- Flexible interior for retail, office, or service‑based uses
- Just steps from the Mary Black Rail Trail
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,544
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,880
$670.9K
Cap Rate 7%
$479,200
$479.2K
Cap Rate 9%
$372,711
$372.7K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$52.3K $24.12/SF
− Vacancy
−$7.6K −$3.51/SF
EGI
$44.7K $20.61/SF
− OpEx
−$11.2K −$5.15/SF
NOI
$33.5K $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%
$670,880
Cap Rate 7%
$479,200
Cap Rate 9%
$372,711
Alternative Uses
Best Use
Office B
$479.2K
$419.3K – $559.1K
NOI $33,544 @ 7.0% cap · market cap 8.39%
Second Best
Mixed Use
$409.2K
$358.1K – $477.4K
NOI $28,644 @ 7.0% cap · market cap 7.16%
Theoretical Best
Warehouse
$1.68M
$1.47M – $1.97M
NOI $117,923 @ 7.0% cap · market cap 29.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
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Business Placement
Demographics for 29306, SC
16,822
Population
7,618
Households
2.2
Avg Household Size
36
Median Age
21%
College-Educated
83%
High-School Grad
19.5 sq mi
ZIP Area
863
Density / Sq Mi
$38,858
Median Household Income
$30,629
Median Earnings
$913
Median Rent
$159,100
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?
Mixed-use property - Flexible commercial space near the Mary Black Rail Trail and downtown Spartanburg.
Where is this mixed-use property located?
The property is located at 453 Union St Spartanburg, SC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: ±2,170 SF retail/office building; Flexible interior for retail, office, or service‑based uses; Just steps from the Mary Black Rail Trail
