Historic Mixed-Use Property For
571 E Main St, Spartanburg, SC 29302
4,688 SF mixed-use property in Converse Heights neighborhood.
Type:Office, Retail
Property size:
4,688 SFLot size:
0.48 AcresPrice / SF:
$271/SF- Added:
- Jun 15, 2024
- Days on Market:
- 716
- Last Refresh:
- May 12 at 11:37 pm
Property Features for 571 E Main St
General Information
- Standard status
- Active
- Size
- 4,688 SF
- Lot size
- 0.48 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1909
Listing agent Andy Hayes License #SC 13179
Listing office Spencer/Hines Properties Spartanburg
Listing date Jun 15, 2024
Source Crexi
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 Spencer/Hines Properties Spartanburg
HighLights
- High visibility location on E. Main Street with approximately 26,000 vehicles per day.
- Situated at the entrance to Converse Heights neighborhood and directly across from Converse College.
- Extensively renovated within the last 10 years.
- Large +/- 4,688 SF building on +/- 0.48 acres.
- Multiple rooms suitable for conversion to professional office space.
- Split zoning (LOD & R8) offering flexible usage options.
Overview
The Charles Pinckney Wofford House, built in 1909 and extensively renovated within the last 10 years, offers approximately 4,688 square feet of space on a 0.48-acre lot. Designed by Atlanta architect Gottfried Norman, this property features multiple rooms and has potential for conversion to a professional office. Previous uses include a gift shop and restaurant. The property is located on E. Main Street at the entrance to the Converse Heights neighborhood, directly across from Converse College, offering high visibility with approximately 26,000 vehicles per day. It is also located minutes from downtown. Street parking is available. The property is currently split zoned as LOD (Limited Office District) and R8.
Local Financial Insights For Office B
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 | $113.1k | $24.12 |
| − Vacancy | −$16.5k | −$3.51 |
| EGI | $96.6k | $20.61 |
| − OpEx | −$24.2k | −$5.15 |
| NOI | $72.5k | $15.46 |
4,688 SF · lease $24.12/SF/yr · vacancy 14.55% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.04M
$905.8K – $1.21M
NOI $72,467 @ 7.0% cap · market cap 5.68%
Second Best
Mixed Use
$884.0K
$773.5K – $1.03M
NOI $61,882 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$3.64M
$3.18M – $4.25M
NOI $254,758 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Longitude
- -81.9166745
- Latitude
- 34.9537811
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - 4,688 SF mixed-use property in Converse Heights neighborhood.
Where is this mixed-use property located?
The property is located at 571 E Main St Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: High visibility location on E. Main Street with approximately 26,000 vehicles per day.; Situated at the entrance to Converse Heights neighborhood and directly across from Converse College.; Extensively renovated within the last 10 years.
