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    56 Groce Rd Lyman, SC 29365

    • Retail space
    • 2,106 SF
    • 0.07 lot acres
    For Sale
    View listing
    $378,000
    Value Estimation
    Last Sale
    Apr 30, 2020
    Location Intelligence
    Property ID
    US77-0592298
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 56 Groce Rd

    Year built
    1928
    Construction
    BRICK
    Lot size
    0.07 lot acres
    Property size
    2,106 SF
    Property type
    Retail space
    APN
    5-1511-10100
    APU
    5151110100

    Description

    This exceptional storefront property at 56 Groce Road, Lyman, SC 29365, presents a unique investment opportunity in the heart of downtown. The building, constructed in 1928, boasts a total of 4,212 square feet spread across two stories. The main level offers 2,106 square feet of finished space, ideal for immediate occupancy. An additional 2,106 square feet of unfinished space resides on the second floor, presenting significant potential for conversion into a modern loft-style space, capitalizing on the growing demand for unique downtown living spaces. Adding to the property's versatility is a 526-square-foot basement area. Convenient street parking is available, supplemented by additional parking at the rear entrance. The property is zoned CBD, allowing for a variety of commercial uses. Its location near the First Baptist Church in downtown Lyman ensures high visibility and foot traffic. The building's history as the former Claytons Barbershop adds to its character and charm. This property is priced at $378,000 and offers a compelling blend of historic charm and modern potential. Don't miss this chance to acquire a significant piece of Lyman's downtown landscape.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lyman
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.1231
    Latitude
    34.9501
    CBSA code
    43900
    CBSA name
    SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,192
    $504
    $4,878
    $5,382
    -
    $8,405
    $81,300
    $89,705

    Comparable in this City

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      3361 Hwy 357

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      107 Spartanburg Hwy

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      3 Greer Rd

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    • Value Estimation
      $560,000
      10,113 SF

      101 Locust St

      RETAIL STORES (PERSONAL SERVICES) • 10,113 SF
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      View Details

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    56 Groce Rd
    Lyman, SC 29365
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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