Office and Retail Flex
516 E Main Street Spartanburg, SC 29302
For Sale
$316,500
Street-level reception plus multiple offices and flex spaces, positioned on a high-traffic corridor with 25,000+ vehicles daily.
Property Size2,100 SF
Price / SF$150.71
Days on Market191
Property Features for 516 E Main Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
General Commercial
Listing Agency:
Ponce Realty Group
(864) 680-3952
Listed By:
Robert Wall · License #129946
(864) 680-3952
Source:
Xome
Added: Jan 18
Changed: Jul 23
Last Checked: Jul 27 at 3:06AM
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 Ponce Realty Group
Investment Insights
Based on property information with market context.
This office and retail flex building offers 2,100± SF of functional space designed for a variety of street-facing uses. The layout includes a street level reception area, four offices, two large flex spaces, and two restrooms. Additional space is provided via a lower-level flex space, creating flexibility for accommodating different operational needs within the same building.
Located at 516 E Main Street in Spartanburg, SC, the property benefits from exposure along an East Main Street corridor with 25,000+ vehicles per day. The building is minutes from Converse and Wofford College, with a surrounding mix of businesses and restaurants.
The combination of street-level frontage, adaptable flex areas, and proximity to established activity makes the property suitable for owner-users or investors seeking a flexible commercial presence.
Located at 516 E Main Street in Spartanburg, SC, the property benefits from exposure along an East Main Street corridor with 25,000+ vehicles per day. The building is minutes from Converse and Wofford College, with a surrounding mix of businesses and restaurants.
The combination of street-level frontage, adaptable flex areas, and proximity to established activity makes the property suitable for owner-users or investors seeking a flexible commercial presence.
Key Highlights
- Street‑level reception area with four offices, two large flex spaces, and a lower‑level flex space
- Includes 2 restrooms plus 3 guest facilities
- Approximately 2,100 SF commercial building
Financial Insights For Retail
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 | $37.8k | $18.00 |
| − Vacancy | −$3.3k | −$1.57 |
| EGI | $34.5k | $16.43 |
| − OpEx | −$10.4k | −$4.93 |
| NOI | $24.2k | $11.50 |
2,100 SF · lease $18.00/SF/yr · vacancy 8.70% · expense 30.00%
Alternative Uses
Best Use
Office B
$463.7K
$405.8K – $541.0K
NOI $32,462 @ 7.0% cap · market cap 10.26%
Second Best
Retail
$345.1K
$302.0K – $402.6K
NOI $24,158 @ 7.0% cap · market cap 7.63%
Theoretical Best
Warehouse
$1.63M
$1.43M – $1.90M
NOI $114,119 @ 7.0% cap · market cap 36.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Street-level reception plus multiple offices and flex spaces, positioned on a high-traffic corridor with 25,000+ vehicles daily.
Where is this office units located?
The property is located at 516 E Main Street Spartanburg, SC.
What is the asking price?
The asking price for this property is $316,500.
What are key features of this property?
This property features: Street‑level reception area with four offices, two large flex spaces, and a lower‑level flex space; Includes 2 restrooms plus 3 guest facilities; Approximately 2,100 SF commercial building
