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    54 Groce Road Lyman, SC 29365

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    Claim this Listing
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    For Sale
    $250,000

    Multi-Use - Lyman, SC

    Property size:
    2,200 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $113/SF
    Added:
    Apr 27, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 28 at 11:06 pm

    Property Features for 54 Groce Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CBD
    Standard status
    Active
    Size
    2,200 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    1242

    Building Details

    Flooring type
    Carpet, Other
    Roof type
    Other, See Remarks
    Architectural style
    Other

    We can help!

    Listing Contact
    Poppi Sanks

    Listing agent Poppi Sanks License #144753

    Listing office Realty One Group Freedom 355 Woodruff Road STE 110, GREENVILLE, SC

    Listing date Apr 27, 2026

    MLS# 336433 Listing URL

    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.

    Overview

    Lyman Multi-Use Income Property

    Located in the central business district of downtown Lyman, South Carolina, this multi-use property offers income-producing potential with a retail tenant already in place. The unfinished upstairs area, accessible via its own street front entrance, presents an opportunity for residential living or a loft. The retail space features a street-facing showroom with high visibility, complemented by flexible square footage suitable for storage, office use, or retail expansion. The property benefits from a strong location with steady traffic and long-term growth potential within the emerging Lyman market. The property's functional layout and street presence make it a solid opportunity for investors seeking steady income with future upside in a growing Upstate market. The property is within walking distance to restaurants, salons, retail stores, and grocery stores. The lot size is 0.06 acres and the property size is 2,200 square feet. The zoning is CBD.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Liberty Coins & Precious ... Big Box & Wholesale Store Gold Buyers Department Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lyman
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.123198
    Latitude
    34.950282

    Nearby Similar for Sale

    • $325,000
      7,040 SF

      Lyman Office Building For Sale

      Office building with 7,040 square feet of space.
      10 Groce Rd, Lyman, SC
      View Details
    • $850,000
      8,000 SF

      Lyman Industrial Property For Sale

      8,000 SF industrial property available in Lyman, South Carolina.
      1121 Gap Crk Rd, Lyman, SC
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Income-producing Lyman property with retail tenant and residential potential.
    Where is this mixed-use property located?
    The property is located at 54 Groce Road Lyman, SC.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Income‑producing property with existing retail tenant in place.; Unfinished upstairs suitable for residential living or loft with separate street entrance.; Prime central business district location in downtown Lyman, SC.
    (864) 542-3500
    We can help!
    Listing Contact
    Poppi Sanks
    Real Estate License ID: 144753
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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