Convenience Store with
For Sale
$230,000
8091 Highway 56, Enoree, SC 29335
Existing convenience store building sits on accompanying acreage along Highway 56 in Enoree, SC.
Property Size1,750 SF
Lot Size6.40 Acres
Price / SF$131.43
Days on Market166
Property Features for 8091 Highway 56
General Information
Standard status
Active
Size
1,750 SF
Lot size
6.40 Acres
Taxes and HOA fees
Annual Taxes
$1,617
Listing Agency:
SPRINGS REALTY
(864) 949-7500
Listed By:
Clay Palmer · License #97246
(864) 426-3025
Source:
Exprealty
Added: Mar 26
Changed: Aug 21
Last Checked: Sep 6 at 10:46AM
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 SPRINGS REALTY
Investment Insights
Based on property information with market context.
This property offers an existing convenience store building that has been closed for a few years. The seller states it still includes everything needed to get started again. The building size is listed at 1,750 square feet, and the purchase also includes 6.4 acres of additional land.
Located at 8091 Highway 56 in Enoree, South Carolina, the property benefits from its placement along the highway, providing straightforward access for retail-oriented use.
Located at 8091 Highway 56 in Enoree, South Carolina, the property benefits from its placement along the highway, providing straightforward access for retail-oriented use.
Key Highlights
- Existing convenience store building on an accompanying 6.4‑acre tract
- Located along Highway 56 in Enoree, SC
- Convenience store has been closed for a few years but includes what’s needed to get started
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
$20,132
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
8.75%
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%
$402,640
$402.6K
Cap Rate 7%
$287,600
$287.6K
Cap Rate 9%
$223,689
$223.7K
Market Conditions
NOI Build-Up for 1,750 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
$31.5K $18.00/SF
− Vacancy
−$2.7K −$1.57/SF
EGI
$28.8K $16.43/SF
− OpEx
−$8.6K −$4.93/SF
NOI
$20.1K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
Lease Rate
$18.00 /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%
$402,640
Cap Rate 7%
$287,600
Cap Rate 9%
$223,689
Alternative Uses
Best Use
Specialty Retail
$492.2K
$430.7K – $574.2K
NOI $34,453 @ 7.0% cap · market cap 14.98%
Second Best
Retail
$287.6K
$251.7K – $335.5K
NOI $20,132 @ 7.0% cap · market cap 8.75%
Theoretical Best
Warehouse
$1.36M
$1.19M – $1.58M
NOI $95,099 @ 7.0% cap · market cap 41.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29335, SC
5,316
Population
2,282
Households
2.3
Avg Household Size
44
Median Age
9%
College-Educated
80%
High-School Grad
95.6 sq mi
ZIP Area
56
Density / Sq Mi
$53,352
Median Household Income
$39,306
Median Earnings
$446
Median Rent
$121,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Existing convenience store building sits on accompanying acreage along Highway 56 in Enoree, SC.
Where is this grocery and convenience store located?
The property is located at 8091 Highway 56 Enoree, SC.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Existing convenience store building on an accompanying 6.4‑acre tract; Located along Highway 56 in Enoree, SC; Convenience store has been closed for a few years but includes what’s needed to get started
