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    3214 Boiling Springs Rd Boiling Springs, SC 29316
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    3214 Boiling Springs Rd Boiling Springs, SC 29316

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    • Retail properties & Spaces
    • 0.44 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3214 Boiling Springs Rd

    Lot size
    0.44 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 0.44-acre commercial land parcel presents a unique development opportunity in the thriving Boiling Springs area of Spartanburg County. Ideally situated on a corner lot at the intersection of Boiling Springs Road and Wesley Court, this single-tenant site boasts excellent visibility and accessibility. The property's APN is 2-44-06-041.01. With a frontage of 91 feet, the lot offers ample space for a variety of retail or restaurant developments. The location benefits from significant traffic volume, exceeding 33,000 vehicles per day, ensuring high exposure for any business established here. Surrounded by new development, this property is positioned for immediate success within a rapidly growing commercial corridor. The site features full ingress and egress, simplifying logistics and enhancing operational efficiency. This is an exceptional opportunity for investors and developers seeking a prime location in a vibrant and expanding market. The property is classified as Retail, Land, and Restaurant, offering flexibility in development plans. This is a rare chance to acquire a strategically located parcel in a high-demand area, promising strong returns on investment. The land is ready for immediate development, making it an attractive option for those seeking a quick turnaround on their investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Boiling Springs
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9758
    Latitude
    35.0405

    Comparable in this City

    • Value Estimation by Request
      80,435 SF

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      Restaurants • 80,435 SF
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      6,980 SF

      2104 Boiling Springs Rd

      Restaurants • 6,980 SF
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      4.80 Acres

      3420 Boiling Springs Rd

      Land • 4,021 SF
      3420 Boiling Springs Rd, Boiling Springs, SC 29316
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    • Value Estimation by Request
      0.67 Acres

      Melody Ln & Boiling Spg Rd

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      1 SF

      2221 Boiling Springs Rd

      Retail properties & Spaces • 1 SF
      2221 Boiling Springs Rd, Boiling Springs, SC 29316
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      6,650 SF

      2760 Boiling Springs Rd

      Medical Office Space • 6,650 SF
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    Similar Nearby for Sale

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      Land For Sale Boiling Springs

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    Similar Nearby for Lease

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      Boiling Springs Land for Rent

      Eight acres of land available for rent in Boiling Springs.
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      Highway Frontage Outparcel For Lease

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      Retail Space in Boiling Springs

      Retail space available for lease in Boiling Springs, SC.
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      Retail Center on Highway 9

      Retail spaces available in a high-traffic neighborhood center.
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    3214 Boiling Springs Rd
    Boiling Springs, SC 29316
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    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
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    3214 Boiling Springs Rd, Boiling Springs, SC, 29316
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