Commercial Real Estate Market in Spartanburg, SC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
217 active listings and 3,681 off-market properties in Spartanburg, SC. Commercial property asks $145/SF to buy and $12.00/SF/Yr to lease.
Market Trends
Spartanburg, SC spans 196.8 square miles in Spartanburg County, South Carolina. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Spartanburg, SC has a median asking sale price of $197/SF (based on 7 listings). Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Spartanburg, SC has a median asking sale price of $360/SF (based on 8 listings). Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Spartanburg, SC has a median asking sale price of $77/SF (based on 3 listings). Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Spartanburg, SC has a median asking sale price of $137/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 65.6%
- Commercial 19.5%
- Industrial 7.6%
- Civic 6.3%
- Mixed use 1%
Largest Zones share of zoned land by district
Spartanburg, SC zones 11,239 acres across 18 districts. Commercial zoning covers 19.5% of zoned land, residential 65.6% and industrial 7.6%. The largest single district is Single Family Residential District at 30.9%. For commercial buyers the practical constraint is that only 27.1% of land carries a commercial or industrial designation.
Any use permitted by right in the R-8 General Residential District. B. Uses Permitted by Special Exception. All uses permitted by special exception in the R-8 General Residential District may be permitted in the R-6 General Residential District in accordance with the provisions of Section VI, 603.5 of this Ordinance. 302.55 R-6 Live/Work District. (*) 1. I…
Market overview
Demographics & Economy
Spartanburg, SC has 143,995 residents in 63,846 households. Density runs 732 people per square mile. Median household income here is $59,568 and median gross rent $1,051 a month.
Tools
Lease vs Buy Breakeven
At $12.00/SF/Yr lease vs $145/SF buy → buying wins if held > 2.1 years.
At a 8.3% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Frequently Asked Questions
What is the median price per square foot for commercial property in Spartanburg?
How much does it cost to lease commercial space in Spartanburg?
Is it cheaper to lease or buy commercial space in Spartanburg?
What zoning applies to commercial property in Spartanburg?
Where does Realmo's Spartanburg market data come from?
Methodology & data sources
- Asking prices and medians
- There are 101 active for-sale and 116 active for-lease listings in Spartanburg, SC. The medians are based on 38 of the for-sale and 13 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 11,239 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
