Commercial Kitchen Property with
For Sale
$380,000
850 Falling Creek Road, Spartanburg, SC 29301
COMMERCIAL/INDUSTRIAL, Spartanburg, SC
Property Size1,879 SF
Lot Size0.53 Acres
Price / SF$202.24
Days on Market46
Property Features for 850 Falling Creek Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Lot features
General Business District
Directions
From I-85, take exit 1 or exit 68 toward Falling Creek Rd. Located at the intersection of Falling Creek Rd and Walden Circle
Subdivision
Spartanburg
Standard status
Active
Size
1,879 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Heat Pump (Heating)
Water source
Public
Amenities
commercial kitchen
Building Details
Flooring type
Concrete, Wood
Listing Agency:
Real Broker, LLC
(731) 561-3650
Listed By:
Rick Angell · License #90911
(864) 414-5188
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 30 at 6:06PM
MLS# 339491
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 commercial kitchen property at 850 Falling Creek Road provides approximately 1,879 square feet across a main level and finished basement. The upper floor includes an entry vestibule and an expansive open room currently configured for meetings. Downstairs, the finished basement adds storage space and a commercial kitchen. Wood and concrete flooring are present, with heat pump service and public water.
The property occupies 0.53 acres in Spartanburg and is zoned Commercial. Its position just off Exit 1 of the I-85 Business Loop provides access to the site and exposure from a nearby regional route. The lot includes room for parking, supporting the building’s current meeting and kitchen-oriented configuration.
The property occupies 0.53 acres in Spartanburg and is zoned Commercial. Its position just off Exit 1 of the I-85 Business Loop provides access to the site and exposure from a nearby regional route. The lot includes room for parking, supporting the building’s current meeting and kitchen-oriented configuration.
Key Highlights
- Approximately 1,879 square feet with a finished basement
- 0.53‑acre lot with ample room for parking
- Commercial kitchen located in the finished basement
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
$24,803
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
6.53%
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%
$496,060
$496.1K
Cap Rate 7%
$354,329
$354.3K
Cap Rate 9%
$275,589
$275.6K
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
$45.1K $24.00/SF
− Vacancy
−$5.4K −$2.88/SF
EGI
$39.7K $21.12/SF
− OpEx
−$14.9K −$7.92/SF
NOI
$24.8K $13.20/SF
Area
Spartanburg County, SC
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$496,060
Cap Rate 7%
$354,329
Cap Rate 9%
$275,589
Alternative Uses
Best Use
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,090 @ 7.0% cap · market cap 22.13%
Second Best
Specialty Retail
$528.5K
$462.4K – $616.6K
NOI $36,993 @ 7.0% cap · market cap 9.74%
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
134
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Commercial property with an open meeting area, kitchen infrastructure, storage, and parking capacity on a half-acre lot.
Where is this commercial kitchen located?
The property is located at 850 Falling Creek Road 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: Approximately 1,879 square feet with a finished basement; 0.53‑acre lot with ample room for parking; Commercial kitchen located in the finished basement
