116 Magnolia St Spartanburg, SC 29306
- Restaurants
- 5,500 SF
Current Use by Public Records
- Buzer / Restaurant / American Restaurant
Property Details for 116 Magnolia St
- Property size
- 5,500 SF
- Property type
- Restaurants
Description
This exceptional 5,500-square-foot restaurant space is ideally situated in the heart of Spartanburg's Central Business District (CBD), at 116 Magnolia St, with convenient access from both Magnolia and Spring Streets. The property boasts a prime location, directly across from the Magnolia Street Parking Garage, ensuring ample parking for patrons. The building sits on a half-acre lot (0.5 acres) and is zoned for commercial use (APN: 7-12-20-007.00, Spartanburg County, SC). The interior features a spacious dining room, a full-service bar, a well-equipped kitchen, and three bathrooms on the main level. A large banquet area with its own bar and two additional bathrooms is located on the second floor, offering versatile event space. High ceilings, hardwood floors, and a freshly painted interior create a sophisticated ambiance. Outdoor seating is possible via a sidewalk/patio area. The lease rate is $17.00 per square foot, NNN, with estimated NNN expenses of $2.95 per square foot. This vibrant location benefits from significant ongoing redevelopment within a one-mile radius, with approximately $700 million in new projects underway. Nearby establishments include Myako's Restaurant, Prudential, C. Dan Joyner, the Spartanburg Children's Museum, CCNB, Work Lounge, and various retail shops. This presents a unique opportunity to establish or relocate a thriving restaurant business in a rapidly growing area. The entire 5,500 square feet is currently vacant.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Longitude
- -81.9333
- Latitude
- 34.9497
