Operating Tire
For Sale
$1,500,000
778 S Church St, Spartanburg, SC 29306
Commercial property currently supporting tire-service operations on S Church St in Spartanburg.
Property Size2,004 SF
Price / SF$748.50
Days on Market47
Property Features for 778 S Church St
General Information
Standard status
Active
Size
2,004 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Keller Williams Realty
Listed By:
Amanda Mershon, Justin Mershon · License #130827
(864) 686-6786
Source:
Greenvilleheartproperties
Added: Aug 4
Changed: Sep 19
Last Checked: Sep 19 at 12:38PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This auto shop property at 778 S Church St in Spartanburg, SC, is currently operating as a tire shop. The existing commercial use provides a ready physical setting for automotive service operations, with the property positioned along a road offering frontage and visibility.
The site provides access to major highways and is situated near shopping, dining, and residential neighborhoods. These surrounding uses contribute to a broad nearby customer base for an automotive-oriented business.
The site provides access to major highways and is situated near shopping, dining, and residential neighborhoods. These surrounding uses contribute to a broad nearby customer base for an automotive-oriented business.
Key Highlights
- Currently operating as a tire shop
- Located at 778 S Church St, Spartanburg, SC
- Road frontage supports property visibility
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,684
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,793,680
$1.8M
Cap Rate 7%
$1,281,200
$1.3M
Cap Rate 9%
$996,489
$996.5K
Market Conditions
NOI Build-Up for 2,004 SF
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.
Gross rent
$141.9K $70.80/SF
− Vacancy
−$13.8K −$6.87/SF
EGI
$128.1K $63.93/SF
− OpEx
−$38.4K −$19.18/SF
NOI
$89.7K $44.75/SF
Area
Spartanburg County, SC
Vacancy
9.70%
Lease Rate
$70.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,793,680
Cap Rate 7%
$1,281,200
Cap Rate 9%
$996,489
Alternative Uses
Best Use
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,684 @ 7.0% cap · market cap 5.98%
Second Best
Retail
$329.3K
$288.2K – $384.2K
NOI $23,054 @ 7.0% cap · market cap 1.54%
Theoretical Best
Warehouse
$1.56M
$1.36M – $1.82M
NOI $108,902 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
9k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 54%
Dining 35%
Groceries 10%
Citi Trends
Apparel
5,042 visits/mo
0.4 miles
American Deli
Dining
3,287 visits/mo
0.4 miles
Piggly Wiggly
Groceries
957 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Jerry Bishop Body Shop — 1040 S Church St Ext, Spartanburg, SC 29306
- A-1 Wrecker Services — 905 Irwin Ave Extention, Spartanburg, SC 29306
- Taylor Made Towing, Spartanburg, SC — 880 S Irwin Ave, Spartanburg, SC 29306
- TMR - Towing - Spartanburg, SC — 888 S Irwin Ave, Spartanburg, SC 29306
- Ace Towing of Spartanburg LLC — 904 S Church St, Spartanburg, SC 29306
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property currently supporting tire-service operations on S Church St in Spartanburg.
Where is this auto shop located?
The property is located at 778 S Church St Spartanburg, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Currently operating as a tire shop; Located at 778 S Church St, Spartanburg, SC; Road frontage supports property visibility
