Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1205 Asheville Hwy Spartanburg, SC 29303
    Back to Search
    Property profile & analytics

    1205 Asheville Hwy Spartanburg, SC 29303

    View on Map
    • Land
    • 1.41 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1205 Asheville Hwy

    Lot size
    1.41 lot acres
    Property type
    Land

    Description

    This exceptional 1.41-acre commercial land parcel presents a remarkable investment opportunity in the thriving Spartanburg, South Carolina market. Strategically located on Asheville Highway, this property boasts significant road frontage, offering approximately 272 feet of visibility on Asheville Highway and an additional 230 feet along Centennial Avenue. The property's dual road frontage provides convenient access from both major thoroughfares, enhancing its appeal for a wide range of commercial ventures. Its proximity to the intersection of Asheville Highway and California Avenue ensures high traffic volume and excellent exposure. The site offers convenient ingress and egress from Centennial Avenue. All utilities are readily available, simplifying development plans. The property is identified by Spartanburg County Tax Map number 6-13-12-013.00. While there is no specific zoning designation, the property is subject to the Spartanburg Unified Land Management Ordinance. This prime location, combined with its substantial size and accessibility, makes this land ideal for various commercial uses. The asking price for this exceptional property is $795,000. Don't miss this chance to acquire a highly visible and versatile commercial land parcel in a rapidly growing area.

    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
    -81.9564
    Latitude
    34.9737

    Comparable in this City

    • Value Estimation by Request
      0.40 Acres

      6752 Pottery Rd

      Land • 0.40 Acres
      6752 Pottery Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      2.14 Acres

      140 Chesnee Hwy

      Land • 2.14 Acres
      140 Chesnee Hwy, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      45.00 Acres

      I-85 And Us 585/Pine St

      Land • 45.00 Acres
      I-85 And Us 585/Pine St, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      15.53 Acres

      7771 Valley Falls Rd

      Land • 15.53 Acres
      7771 Valley Falls Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      0.13 Acres

      2 Beech Aly

      Land • 0.13 Acres
      2 Beech Aly, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      2.12 Acres

      126 Misty Ln

      Land • 2.12 Acres
      126 Misty Ln, Spartanburg, SC 29303
      View Details

    Similar Nearby for Sale

    • $375,000
      19.36 Acres

      19.36 Acres Wooded Land

      19.36 acres of wooded land suitable for subdivision.
      Love Springs Rd, Cowpens, SC 29303
      View Details
    • Contact for pricing

      Land Available with Sewer Access

      Land for sale with sewer access at $11,500 per acre.
      2751 New Cut Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Land For Sale Spartanburg

      Land available for sale in Spartanburg, South Carolina.
      110 Misty Ln, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Land For Sale Spartanburg

      Land available for sale in Spartanburg, South Carolina.
      103 Jones Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Land Available in Spartanburg, SC

      Land for sale at 5211-5212 N Blackstock Rd, Spartanburg, SC.
      5211-5212 N Blackstock Rd, Spartanburg, SC 29303
      View Details
    • $1,349,000
      3.20 Acres

      Chesnee Hwy Commercial Land

      3.2 Acres Retail Development Land
      0 Chesnee Hwy, Spartanburg, SC 29303
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease Spartanburg

      Land available for lease in Spartanburg, South Carolina.
      Pottery Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      3,300 SF

      Industrial Building with Outdoor Storage

      Industrial building with outdoor storage space available for lease.
      7915 Valley Falls Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Spartanburg Industrial Land Opportunity

      Prime 3-15 acre lot, ideal for various uses.
      7915 Valley Falls Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Land Outparcel on Highway 9

      0.67-acre lot available for lease or build to suit.
      1481 Boiling Springs Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Spartanburg Commercial Land Outparcel

      Outparcel for rent in a 60,000 SF shopping center.
      975 Beaumont Ave, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Fenced Yard with Warehouse

      Commercial land with warehouse and build-to-suit options available.
      7921 Valley Falls Rd, 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.
    1205 Asheville Hwy
    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
    1205 Asheville Hwy, 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!