Office Property with Finished
For Sale
$380,000
850 Falling Creek Rd, Spartanburg, SC 29301
Versatile office building includes a large meeting space, finished basement storage, and a commercial kitchen on a half-acre lot.
Property Size1,879 SF
Lot Size0.50 Acres
Price / SF$202.24
Days on Market53
Property Features for 850 Falling Creek Rd
General Information
Standard status
Active
Size
1,879 SF
Lot size
0.50 Acres
Additional Details
Highway Access
Yes
Listing Agency:
Real Broker, LLC
(731) 561-3650
Listed By:
Rick Angell · License #90911
(864) 414-5188
Source:
Exprealty
Added: Jul 16
Changed: Aug 26
Last Checked: Sep 5 at 2:37PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This versatile commercial property offers approximately 1,879 sq ft of office space with an additional finished basement. The main level includes a large vestibule and a large open room currently used as a meeting space. The finished basement is built out for practical use, providing storage and a commercial kitchen.
The property sits on a half-acre lot with ample room for parking. It is located just off Exit 1 of I-85 Business Loop, providing convenient access and exposure.
For prospective buyers, the combination of an open main-level work/meeting area, finished basement storage, and an on-site commercial kitchen supports flexible day-to-day use within a dedicated office setting.
The property sits on a half-acre lot with ample room for parking. It is located just off Exit 1 of I-85 Business Loop, providing convenient access and exposure.
For prospective buyers, the combination of an open main-level work/meeting area, finished basement storage, and an on-site commercial kitchen supports flexible day-to-day use within a dedicated office setting.
Key Highlights
- Versatile commercial office building at 850 Falling Creek Road, Spartanburg
- Approximately 1,879 sq ft main level with a finished basement
- Half‑acre lot with ample parking space
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
$29,045
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
7.64%
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%
$580,900
$580.9K
Cap Rate 7%
$414,929
$414.9K
Cap Rate 9%
$322,722
$322.7K
Market Conditions
NOI Build-Up for 1,879 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
$45.3K $24.12/SF
− Vacancy
−$6.6K −$3.51/SF
EGI
$38.7K $20.61/SF
− OpEx
−$9.7K −$5.15/SF
NOI
$29.0K $15.46/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
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%
$580,900
Cap Rate 7%
$414,929
Cap Rate 9%
$322,722
Alternative Uses
Best Use
Office B
$414.9K
$363.1K – $484.1K
NOI $29,045 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,110 @ 7.0% cap · market cap 26.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 29301, SC
34,531
Population
16,020
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
87%
High-School Grad
27.5 sq mi
ZIP Area
1,256
Density / Sq Mi
$56,606
Median Household Income
$37,761
Median Earnings
$1,126
Median Rent
$200,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Versatile office building includes a large meeting space, finished basement storage, and a commercial kitchen on a half-acre lot.
Where is this office units located?
The property is located at 850 Falling Creek Rd Spartanburg, SC.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Versatile commercial office building at 850 Falling Creek Road, Spartanburg; Approximately 1,879 sq ft main level with a finished basement; Half‑acre lot with ample parking space
