New Retail Building Near
For Sale
$3,760,000
861 Double Bridge Rd, Boiling Springs, SC 29316
New two-tenant retail building with long-term leases near Target.
Property Size5,400 SF
Price / SF$696.30
Days on Market268
Property Features for 861 Double Bridge Rd
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Retail
Building Details
Year Built
2025
Listing Agency:
SVN Palmetto
(864) 593-6644
Listed By:
Daniel Holloway · License #SC #106855
(864) 593-6644
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 16 at 4:50AM
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 SVN Palmetto
Investment Insights
Based on property information with market context.
This newly constructed two-tenant retail building is located in Boiling Springs, SC. The property is an outparcel to a new Target development and features long-term triple net leases with McAlister’s Deli and Blaze Pizza. The building offers visibility and is located at one of the primary entrances to Target, featuring a large monument sign and full access to Double Bridge Road and the nearby lighted intersection with Highway 9, which sees 34,800 vehicles per day. Boiling Springs is a growing suburb of Spartanburg, SC, with residential and retail growth. Nearby retailers include Target, Walmart, Lowes, QT, Whataburger, Chick-fil-A, Starbucks, and Publix. The property is suitable for an investor seeking a passive investment.
Key Highlights
- Newly constructed two‑tenant building with long‑term NNN leases to McAlister's Deli and Blaze Pizza, providing a secure, passive investment.
- Strategically positioned as an outparcel to a brand new Target development.
- Located in the high‑growth market of Boiling Springs, SC.
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
$106,313
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
2.83%
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%
$2,126,260
$2.1M
Cap Rate 7%
$1,518,757
$1.5M
Cap Rate 9%
$1,181,256
$1.2M
Market Conditions
NOI Build-Up for 5,400 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
$165.9K $30.72/SF
− Vacancy
−$24.1K −$4.47/SF
EGI
$141.8K $26.25/SF
− OpEx
−$35.4K −$6.56/SF
NOI
$106.3K $19.69/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$30.72 /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%
$2,126,260
Cap Rate 7%
$1,518,757
Cap Rate 9%
$1,181,256
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,313 @ 7.0% cap · market cap 2.83%
Second Best
Retail
$887.4K
$776.5K – $1.04M
NOI $62,121 @ 7.0% cap · market cap 1.65%
Theoretical Best
Warehouse
$4.19M
$3.67M – $4.89M
NOI $293,450 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
350k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Superstores 24%
Shops & Services 18%
Electronics 4%
Target
Superstores
83,687 visits/mo
0.2 miles
Chick-fil-A
Dining
40,882 visits/mo
0.4 miles
QuikTrip
Shops & Services
29,424 visits/mo
0.1 miles
McDonald's
Dining
24,514 visits/mo
0.3 miles
Whataburger
Dining
23,153 visits/mo
0.1 miles
Demographics for 29316, SC
29,459
Population
12,202
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
93%
High-School Grad
21.8 sq mi
ZIP Area
1,351
Density / Sq Mi
$75,808
Median Household Income
$44,015
Median Earnings
$1,133
Median Rent
$227,700
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?
Strip mall - New two-tenant retail building with long-term leases near Target.
Where is this strip mall located?
The property is located at 861 Double Bridge Rd Boiling Springs, SC.
What is the asking price?
The asking price for this property is $3,760,000.
What are key features of this property?
This property features: Newly constructed two‑tenant building with long‑term NNN leases to McAlister's Deli and Blaze Pizza, providing a secure, passive investment.; Strategically positioned as an outparcel to a brand new Target development.; Located in the high‑growth market of Boiling Springs, SC.
