Five-Bay Auto Repair
New
For Sale
Contact for pricing
860 West Main Street, Spartanburg, SC 29301
Fenced commercial property with drive-in access and a recently upgraded roof.
Property Size5,000 SF
Lot Size1.50 Acres
Price / SF$141.80
Days on Market6
Property Features for 860 West Main Street
General Information
Standard status
Active
Size
5,000 SF
Class
C
Total Parking Spaces
10
Lot size
1.50 Acres
Property subtype
Business for Sale
Zoning
CI - Commercial Industrial
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$66,707
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Opportunity Zone
Yes
Service Bays
5
Amenities
fenced lot
new roof
Building Details
Year Built
1951
Units
10
Tenancy
Multi
Abandoned
No
Listing Agency:
Vista Lake LLC
Listed By:
Viktor Altuhov · License #SC
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 3:51AM
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 Vista Lake LLC
Investment Insights
Based on property information with market context.
This auto shop property includes five vehicle repair bays, each measuring 15' x 40' and equipped with a private drive-in roll-up door. The improvements also include a recently installed roof and a fenced site. Ten paved parking spaces support customer, tenant, and vehicle-staging needs.
The property occupies 1.5 acres at 860 West Main Street in Spartanburg, South Carolina, within the Saxon area. It is zoned CI - Commercial Industrial and was built in 1951. Its configuration combines dedicated service bays, paved parking, and secured outdoor space for automotive or other commercial-industrial operations.
The property occupies 1.5 acres at 860 West Main Street in Spartanburg, South Carolina, within the Saxon area. It is zoned CI - Commercial Industrial and was built in 1951. Its configuration combines dedicated service bays, paved parking, and secured outdoor space for automotive or other commercial-industrial operations.
Key Highlights
- Five vehicle repair bays, each 15' x 40'
- Private drive‑in roll‑up door serving every bay
- 1.5‑acre fenced commercial‑industrial site
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
$57,519
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
8.11%
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%
$1,150,380
$1.2M
Cap Rate 7%
$821,700
$821.7K
Cap Rate 9%
$639,100
$639.1K
Market Conditions
NOI Build-Up for 5,000 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
$90.0K $18.00/SF
− Vacancy
−$7.8K −$1.57/SF
EGI
$82.2K $16.43/SF
− OpEx
−$24.7K −$4.93/SF
NOI
$57.5K $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%
$1,150,380
Cap Rate 7%
$821,700
Cap Rate 9%
$639,100
Alternative Uses
Best Use
Warehouse
$3.88M
$3.40M – $4.53M
NOI $271,713 @ 7.0% cap · market cap 38.32%
Second Best
Industrial
$3.20M
$2.80M – $3.73M
NOI $223,763 @ 7.0% cap · market cap 31.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Service bays
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Walmart Auto Care Centers — 2151 E Main St, Spartanburg, SC 29307
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced commercial property with drive-in access and a recently upgraded roof.
Where is this auto shop located?
The property is located at 860 West Main Street Spartanburg, SC.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: Five vehicle repair bays, each 15' x 40'; Private drive‑in roll‑up door serving every bay; 1.5‑acre fenced commercial‑industrial site
