Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    117 Southwest Dr Spartanburg, SC 29303
    Back to Search
    Property profile & analytics

    117 Southwest Dr, Spartanburg, SC 29303

    View on Map
    • Warehouses
    • 20,400 SF
    • 1.12 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Get 2 It Sales / Auto Parts Store / Motorcycle Shop
    • Get 2 It Parts / Auto Repair Shop
    • International Distributing Co / Distribution Center / Logistics Company

    Property Details for 117 Southwest Dr

    Lot size
    1.12 lot acres
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 20,400-square-foot industrial warehouse is ideally situated in Spartanburg, South Carolina, on a 1.12-acre lot. The property boasts a strategic location, offering convenient access to key transportation arteries and major employers. It's just 16 miles from the Greer Port, 12 miles from BMW, and 15 miles from the Greenville-Spartanburg International Airport (GSP). Downtown Spartanburg is a mere 6 miles away. The warehouse itself comprises 18,840 square feet of functional space, complemented by 1,560 square feet of office area. The building features a generous 16-foot clear ceiling height, enhancing operational efficiency. Loading and unloading are facilitated by four dock-high doors and one drive-in door. Adding to its versatility, the property includes a half-acre of lay-down yard space, providing ample room for storage or maneuvering. The property is offered for sale with a Net Net Net (NNN) lease rate of $7.50 per square foot. The sale price is available upon request. The property's APN is 6-12-13-061.00. This warehouse presents a compelling opportunity for businesses seeking a well-located, functional, and spacious industrial facility in a thriving South Carolina market. The property is zoned for industrial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.0225
    Latitude
    34.9682

    Comparable in this City

    • Value Estimation by Request
      12,000 SF

      98 Fairview Church Rd

      Distribution properties
      98 Fairview Church Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      40,000 SF

      John Martin Rd

      Distribution properties
      0 John Martin Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      39,290 SF

      100 Southwest Dr

      Distribution properties
      100 Southwest Dr, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      16,130 SF

      215 Northeast Dr

      Flex space
      215 Northeast Dr, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      30,000 SF

      1445- 1451 Ashville Hwy

      Distribution properties
      1445- 1451 Ashville Hwy, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      9,052 SF

      220 Sunbeam Rd

      Distribution properties
      220 Sunbeam Rd, Spartanburg, SC 29303
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Spartanburg Warehouse Investment Opportunity

      33,613 SF warehouse on 1.47 acres, leased until 2030.
      519 Honeysuckle Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      12,500 SF

      Spartanburg Industrial Opportunity For Sale

      12,500 SF industrial property available in Spartanburg, South Carolina.
      8202 Maxwell Cir, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      5,000 SF

      Spartanburg Warehouse and Office Space

      5,000 SF warehouse and office space for lease.
      190 Metro Dr, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      210,000 SF

      Spartanburg Industrial Space on I-85

      Class A industrial space with excellent I-85 access.
      163 Bryant Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      10,000 SF

      Spartanburg Warehouse Near I-85

      10,000 sq ft warehouse with easy highway access.
      219 Northeast Dr, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      159,500 SF

      Spartanburg Industrial Space on I-85

      Class A industrial space with excellent I-85 access and visibility.
      740 Bryant Rd, Spartanburg, SC 29303
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      26,000 SF

      Spartanburg Industrial Warehouse Space

      Flexible Warehouse Space, I-85 Access
      400 State Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      439,360 SF

      Industrial Property with I-85 Frontage

      Industrial property with strategic location and significant consumer reach.
      200 Fort Prince Rd, Wellford, SC 29303
      View Details
    • Contact for pricing
      30,000 SF

      Industrial Space Near I-26

      30,000 SF industrial space with convenient highway access.
      280 National Ave, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      67,731 SF

      Spartanburg Warehouse Space Available

      170,113 SF warehouse space with ample parking.
      402 John Dodd Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      58,370 SF

      Industrial Space with Highway Visibility

      Newly delivered industrial space with frontage on I-85 available for lease.
      452 Casual Dr, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Spartanburg Distribution/Warehouse/Manufacturing Center

      Located near I-85 and I-26, ideal for distribution/warehouse/manufacturing.
      1560 International Dr, Spartanburg, SC 29303
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    117 Southwest Dr
    Spartanburg, SC 29303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    117 Southwest Dr, Spartanburg, SC, 29303
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!