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    013 Goldmine Road Spartanburg, SC 29302
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    013 Goldmine Road, Spartanburg, SC 29302

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    • Residential land & home lots
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

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    • Residential land & home lots

    Property Details for 013 Goldmine Road

    Property type
    Residential land & home lots

    Description

    South Pine Farms provides a perfect canvas for a new homeowner to create their dream home on any of the lots available, each with varying sizes. The thriving community surrounding the property features local restaurants, breweries, public parks, organic farms, and traditional country churches. You can enjoy the modern-day amenities without sacrificing the tranquility of a rural lifestyle, just outside the city. Discover the perfect place to build your dream home on Goldmine Road. Enjoy planting your roots in the peace and quiet with us at Reedy Land Co! Location Description ±15 minutes from Downtown Spartanburg ±5 minutes from Pacolet Elementary School ±10 minutes from Converse College

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    State
    South Carolina
    Longitude
    -81.7904
    Latitude
    34.9259

    Comparable in this City

    • Value Estimation by Request
      6.00 Acres

      Whitestone Glendale Rd

      Farms
      0 Whitestone Glendale Rd, Spartanburg, SC 29302
      View Details
    • Value Estimation
      $575,000
      79,200 SF

      1097 Un St

      FARM SUPPLY & EQUIPMENT
      1097 Un St, Spartanburg, SC 29302-3317
      View Details
    • Value Estimation by Request
      8,092 SF

      2321 Pne St

      FARM SUPPLY & EQUIPMENT
      2321 Pne St, Spartanburg, SC 29302-4337
      View Details
    • Value Estimation by Request
      7,815 SF

      976 Pne St

      FARM SUPPLY & EQUIPMENT
      976 Pne St, Spartanburg, SC 29302-3311
      View Details
    • Value Estimation by Request
      1,305 SF

      1027 Un St

      FARM SUPPLY & EQUIPMENT
      1027 Un St, Spartanburg, SC 29302-3343
      View Details
    • Value Estimation by Request
      0.50 Acres

      Cedar Springs Rd

      Restaurants
      0 Cedar Springs Rd, Spartanburg, SC 29302
      View Details

    Similar Nearby for Sale

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    • $450,000
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      Prime lot in growing area near downtown Spartanburg.
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      Undeveloped lot in established neighborhood with natural privacy.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Spartanburg Retail Space For Lease

      High-traffic retail space, 1,200 sq ft.
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      Spartanburg Outdoor Storage Opportunity

      4.38 AC outdoor storage space for lease in Spartanburg.
      220 W Lanford St, Spartanburg, SC 29302
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    • $4,000 /Mo
      4 SF

      Spartanburg Outdoor Storage Opportunity

      4.38 AC outdoor storage lot for lease in Spartanburg.
      220 West Lanford St, Spartanburg, SC 29302
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    • Contact for pricing
      225 SF

      Spartanburg Office Space Available

      Office space available for rent in Spartanburg, South Carolina.
      324 E Saint John St, Spartanburg, SC 29302
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      2,312 SF

      Retail Space on E Main

      Turnkey retail/office space with high visibility and ample parking.
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    • Contact for pricing
      2,000 SF

      Office Suites in Spartanburg

      Office suites available in Spartanburg near downtown and amenities.
      900 S Pine St, Spartanburg, SC 29302
      View Details
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    013 Goldmine Road
    Spartanburg, SC 29302
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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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    013 Goldmine Road, Spartanburg, SC, 29302
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