571 E Main St Spartanburg, SC 29302
4,688 SF mixed-use property in Converse Heights neighborhood.
Property Features for 571 E Main St
General Information
- Standard status
- Active
- Size
- 4,688 SF
- Lot size
- 0.48 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1909
Listing office Spencer/Hines Properties Spartanburg (864) 706-0189
Listing date Jun 15, 2024
Source Crexi
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 Spencer/Hines Properties Spartanburg
Investment Insights
Based on property information with market context.
Key Highlights
- High visibility location on E. Main Street with approximately 26,000 vehicles per day.
- Situated at the entrance to Converse Heights neighborhood and directly across from Converse College.
- Extensively renovated within the last 10 years.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.1k | $24.12 |
| − Vacancy | −$16.5k | −$3.51 |
| EGI | $96.6k | $20.61 |
| − OpEx | −$24.2k | −$5.15 |
| NOI | $72.5k | $15.46 |
