Commercial Real Estate Market in Spartanburg, SC
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
446 active listings and 3,683 off-market properties in Spartanburg, SC. Commercial property asks $124/SF to buy and $12.82/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 August 2026.
Office
Office vacancy in Spartanburg, SC runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail space in Spartanburg, SC asks $157/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in Spartanburg, SC runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Spartanburg, SC asks $139/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
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
Single Family Residential District
General Residential District
General Residential District
General Residential District
Light Industrial 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.
General Residential District (R-8)
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.
143,995
Population
63,846
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
196.8 sq mi
ZIP Area
732
Density / Sq Mi
$59,568
Median Household Income
$36,786
Median Earnings
$1,051
Median Rent
$199,332
Median Home Value
Tools
Lease vs Buy Breakeven
At $12.82/SF/Yr lease vs $124/SF buy → buying wins if held > 1.3 years.
At a 10.3% 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.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Drayton | — | — |
| Una | — | — |
| Arcadia | — | — |
| Fairforest | — | — |
Commercial property in Spartanburg, SC asks $124/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Spartanburg?
Commercial property in Spartanburg, SC asks an average of $124 per square foot. The 4 most recent recorded sales traded at a median of $168/SF. Retail carries the highest asking price at $157/SF.
How much does it cost to lease commercial space in Spartanburg?
Asking lease rates in Spartanburg, SC average $12.82 per square foot per year.
Is it cheaper to lease or buy commercial space in Spartanburg?
Buying beats leasing in Spartanburg, SC if the property is held longer than 1.3 years, comparing $12.82/SF/Yr asking rent with $124/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Spartanburg?
Spartanburg, SC zones 11,239 acres across 18 districts, of which 19.5% is commercial and 7.6% industrial. The largest single district is Single Family Residential District at 30.9% of zoned land. Residential zoning covers 65.6% and open space 0%.
Where does Realmo's Spartanburg market data come from?
Realmo compiles Spartanburg, SC figures from 5 recent recorded sales, 330 active sale listings, 116 active lease listings, 3,683 tracked off-market properties, the current Spartanburg zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 330 active for-sale and 116 active for-lease listings in Spartanburg, SC. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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 August 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 August 2026 · report a data issue
