Building Details

Flooring type Concrete

Listing Agency: Springs Realty Show Phone

Listed By: Clay Palmer · License #97246 Show Phone

Added: Mar 21 Changed: May 28 Last Checked: Aug 22 at 9:06AM

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MLS# 335104

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 property features a convenience store on 6.4 acres. The store, with a size of 1750 square feet, is located on a busy road. While the store has been closed for a few years, it still contains the equipment needed to get started.

Key Highlights

• Includes 6.4 acres of land.
• Located on a very busy road.
• Previously operated as a convenience store.

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 (±1% cap)

NOI $34,453 @ 7.0% cap · market cap 14.98%

Second Best

Retail

$287.6K

$251.7K – $335.5K (±1% cap)

NOI $20,132 @ 7.0% cap · market cap 8.75%

Theoretical Best

Warehouse

$1.36M

$1.19M – $1.58M (±1% cap)

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

Grocery and convenience stores

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Convenience store with equipment and acreage on a busy road.

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: Includes 6.4 acres of land.; Located on a very busy road.; Previously operated as a convenience store.