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East Main Street Commercial Opportunity

516 E Main Street Spartanburg, SC 29302

Claim this Listing
For Sale
$316,500

COMMERCIAL - Spartanburg, SC

Property size:
2,125 SF
Lot size:
0.04 Acres
Price / SF:
$148.94/SF
Added:
Jan 26, 2026
Days on Market:
168
Last Refresh:
Jul 13 at 7:06 pm

Property Features for 516 E Main Street

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
2,125 SF
Lot size
0.04 Acres

Taxes and HOA fees

Tax Year
2024
Tax Annual Amount
6288

Utilities

Cooling system
Central Air
Water source
Public

Listing agent Robert Wall License #95766

Listing office Ponce Realty Group 5504 Reidville Rd, DUNCAN, SC

Listing date Jan 26, 2026

MLS# 332932

Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

This commercial property offers 2,125 square feet of space in a high-traffic area on East Main Street, with over 25,000 vehicles passing daily. The functional layout includes a street-level reception area, four offices, two large flex spaces, and two restrooms, along with a lower-level flex space. The property is suitable for retail, professional office, or service-oriented businesses. Located minutes from Converse and Wofford College, the building benefits from strong surrounding activity and proximity to a diverse mix of businesses and restaurants. The property is situated on a 0.04-acre lot. Ongoing redevelopment in the area supports long-term value and demand. This location presents an opportunity for owner-users or investors seeking exposure, flexibility, and a strategic commercial presence in Spartanburg, SC.

Key Highlights

  • High‑traffic location on East Main Street with 25,000+ vehicles per day.
  • 2,100+\/- SF functional layout suitable for retail, office, or service businesses.
  • Proximity to Converse and Wofford Colleges and diverse businesses/restaurants.

Local 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 $38.3k $18.00
− Vacancy −$3.3k −$1.57
EGI $34.9k $16.43
− OpEx −$10.5k −$4.93
NOI $24.4k $11.50
2,125 SF · lease $18.00/SF/yr · vacancy 8.70% · expense 30.00%

Alternative Uses

Best Use
Office B
$469.3K
$410.6K – $547.5K (±1% cap)
NOI $32,848 @ 7.0% cap · market cap 10.38%
Second Best
Retail
$349.2K
$305.6K – $407.4K (±1% cap)
NOI $24,446 @ 7.0% cap · market cap 7.72%
Theoretical Best
Warehouse
$1.65M
$1.44M – $1.92M (±1% cap)
NOI $115,478 @ 7.0% cap · market cap 36.49%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Cobb Hammett LLC Law Firm

Suggested Use

Pharmacy (Bike/Boat/Book/etc) Store Storage Facility Locksmith (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Butcher Pet Store Tanning Salon Home Appliance Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Office units - High-visibility commercial space in a high-traffic area.
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: High‑traffic location on East Main Street with 25,000+ vehicles per day.; **2,100+\/- SF functional layout** suitable for retail, office, or service businesses.; Proximity to Converse and Wofford Colleges and diverse businesses/restaurants.
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