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    Property profile & analytics

    1000 N Pine St Spartanburg, SC 29303

    • Bowling alleys
    • 35,465 SF
    • 23.95 lot acres
    For Lease
    View listing
    Last Sale
    Jan 26, 2024
    Value Estimations
    $1,130,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0508934
    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

    • Foster Jewelers (Formally Price is Right) / Jewelry Store
    • Kingdom Cuts 2 Barbershop / Barber Shop
    • Zella Hair Studio / Hair Salon
    • Wade's Restaurant / Family Restaurant
    • Subway / Restaurant / Sandwich Shop

    Property Details for 1000 N Pine St

    Year built
    1961
    Construction
    CONCRETE BLOCKS
    Lot size
    23.95 lot acres
    Property size
    35,465 SF
    Property type
    Bowling alleys
    APN
    7-0814-07400
    APU
    7081407400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $900,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,359,000
      Market price range: $1.36M - $9.75M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9338
    Latitude
    34.9702
    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
    $131,194
    $98,496
    $151,002
    $249,498
    -
    $1,641,600
    $2,516,700
    $4,158,300

    Comparable in this City

    • Value Estimation by Request
      800 SF

      705 Pne St

      RECREATIONAL, ENTERTAINMENT • 800 SF
      705 Pne St, Spartanburg, SC 29303-3775
      View Details
    • Value Estimation
      $2,525,000
      1,670 SF

      Serpentine Dr

      RECREATIONAL, ENTERTAINMENT • 1,670 SF
      Serpentine Dr, Spartanburg, SC 29303
      View Details
    • Value Estimation
      $3,100,000
      2,052 SF

      254 Franklin St

      RECREATIONAL, ENTERTAINMENT • 2,052 SF
      254 Franklin St, Spartanburg, SC 29303-2909
      View Details
    • Value Estimation
      $3,830,000
      2,534 SF

      270 Centennial St

      RECREATIONAL, ENTERTAINMENT • 2,534 SF
      270 Centennial St, Spartanburg, SC 29303-2746
      View Details
    • Value Estimation
      $1,815,000
      1,200 SF

      151 Franklin St

      RECREATIONAL, ENTERTAINMENT • 1,200 SF
      151 Franklin St, Spartanburg, SC 29303-2992
      View Details
    • Value Estimation
      $2,295,000
      5,242 SF

      728 Church St

      RECREATIONAL, ENTERTAINMENT • 5,242 SF
      728 Church St, Spartanburg, SC 29303-3014
      View Details

    Similar Nearby for Sale

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      High-traffic commercial lot, excellent visibility.
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      Spartanburg Commercial Land Opportunity

      Prime Commercial Land - $129,500
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    • $3,416,000
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      Bojangles Restaurant For Sale

      NNN Bojangles restaurant for sale near I-26.
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      Wingo Park Land For Sale

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    Similar Nearby for Lease

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      Prime Spartanburg industrial space available.
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    • $5 SF/Yr
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      Spartanburg Warehouse Space Available

      115,000 square foot warehouse space for lease in Spartanburg.
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    • $15 SF/Yr
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      Spartanburg Office Space Available

      Office space available for lease in Spartanburg, South Carolina.
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    • Contact for pricing
      15,000 SF

      Spartanburg Flex Space Available

      Move-in ready flex unit with warehouse space for lease.
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    • $8 SF/Yr
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      Spartanburg Warehouse/Flex Space Available

      15,000 SF warehouse/flex space with showroom/office in Spartanburg, SC.
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    • Contact for pricing
      3,864 SF

      Retail Space on I-85 Business

      Retail property with frontage and proximity to multifamily developments.
      100 Simuel Rd, Spartanburg, SC 29303
      View Details

    Property Visit Statistics

    • Visits by month
      16.5k
    • Visitors by month
      18.3k
    • Avg Time on site
      38 min
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    Spartanburg, SC 29303
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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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