500 Main StSpartanburg, SC 29301

Property Details for 500 Main St

Year built

1940

Construction

CONCRETE BLOCKS

Lot size

0.21 AC

Property size (Sq ft)

1,849 SF

Property type

Retail properties

Property subtype

Retail space

APN

7-1211-08500

APU

7121108500

Description

This exceptional mixed-use redevelopment, originally constructed in 1916 and extensively renovated in 2024, offers 10 available office spaces ranging from 1,683 to 14,566 square feet within three, three-story buildings situated on a 10.28-acre lot in the heart of downtown Spartanburg, South Carolina. The Class A property features ample parking, elevators, and multiple points of ingress and egress. Tenants benefit from tenant upfit allowances and a vibrant, walkable location within an Opportunity Zone. The property includes a large outdoor area ideal for events and boasts convenient proximity to a new baseball stadium and future Rail Trail connectivity (2024/2025). Future multifamily units planned for the rear of the property will further enhance the area's appeal. The property is zoned for retail, office, and restaurant uses. This is a unique opportunity to secure space in a landmark building experiencing significant revitalization.

• CAP approach

  CAP return

  Valuation

  6%

  $524,937

  6.5%

  $484,557

  7%

  $449,946

• Comparable approach

  Method

  Valuation

  Relative Method

  $383,615

  Geo Method

  $383,615

• Alternative Use

  Use

  Valuation

  Residential

  $408,742

  Hospitality

  $374,405

  Educational

  $311,501

  Medical

  $322,214

  Retail

  $484,557

Location Insight

City

Spartanburg

County

Spartanburg

State

South Carolina

Latitude

34.9531

Longitude

-81.9193

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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