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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Powell Ml Rd Spartanburg, SC 29301-1531

    • Medical offices
    • 3,549 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Jul 03, 2024
    $975,000
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    5.7%
    Medical offices
    Location Intelligence
    Property ID
    US77-0860845
    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

    • Carolinas Center for Oral and Facial Surgery / Oral And Maxillofacial Surgeon
    • Harry Belk / Oral And Maxillofacial Surgeon

    Property Details for 115 Powell Ml Rd

    Year built
    1987
    Construction
    WOOD
    Lot size
    0.44 lot acres
    Property size
    3,549 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    6-2102-00103
    APU
    6210200103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000
      ML approach
      $975,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $930,000
      6.5%
      $860,000
      7%
      $800,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,185,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.977
    Latitude
    34.939
    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
    $12,424
    $3,194
    $26,131
    $29,325
    -
    $91,800
    $751,100
    $842,900

    Comparable in this City

    • Value Estimation
      $955,000
      7,992 SF

      125 Powell Ml Rd

      MEDICAL BUILDING • 7,992 SF
      125 Powell Ml Rd, Spartanburg, SC 29301-1589
      View Details
    • Value Estimation
      $700,000
      3,464 SF

      212 Blackstock Rd

      MEDICAL BUILDING • 3,464 SF
      212 Blackstock Rd, Spartanburg, SC 29301-2607
      View Details
    • Value Estimation by Request
      3,150 SF

      351 Oak Grv Rd

      MEDICAL BUILDING • 3,150 SF
      351 Oak Grv Rd, Spartanburg, SC 29301-2537
      View Details
    • Value Estimation by Request
      2,000 SF

      2830 Reidville Rd

      MEDICAL BUILDING • 2,000 SF
      2830 Reidville Rd, Spartanburg, SC 29301-5640
      View Details
    • Value Estimation by Request
      3,948 SF

      218 Blackstock Rd

      MEDICAL BUILDING • 3,948 SF
      218 Blackstock Rd, Spartanburg, SC 29301-2607
      View Details
    • Value Estimation
      $905,000
      7,097 SF

      3020 Reidville Rd

      MEDICAL BUILDING • 7,097 SF
      3020 Reidville Rd, Spartanburg, SC 29301-5641
      View Details

    Similar Nearby for Sale

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      Two office/medical pads with utilities, parking, and infrastructure included.
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    • $1,275,000

      Historic Building Near Converse College

      4,688 SF building suitable for office or retail use.
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      Spartanburg Office Space Auction

      Well-positioned office space in Spartanburg, being sold at online auction.
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    • $1,210,690
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      Spartanburg Commercial Land

      18 Acres, Unzoned, Investment Opportunity
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    • Contact for pricing
      1.65 Acres

      Spartanburg Retail Center Investment Opportunity

      Prime Spartanburg retail lot, 1.65 acres.
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      Industrial Land Near Highway 29

      Industrial land with utilities, close to highways and inland port.
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    Similar Nearby for Lease

    • $16 SF/Yr
      5,461 SF

      Westside Office/Medical Space Available

      5461± sq ft office/medical space for rent.
      225 E Blackstock Rd, Spartanburg, SC 29301
      View Details
    • $10 SF/Yr
      2,000 SF

      Prime Office Suites at Country Corners

      Two small office spaces available now!
      430 Oak Grove Rd, Spartanburg, SC 29301
      View Details
    • $16 SF/Yr
      2,527 SF

      Knollwood Executive Office Suites

      Spartanburg Office Space Available Now
      1703-1707 John B White Sr Blvd, Spartanburg, SC 29301
      View Details
    • $15 SF/Yr
      4,000 SF

      Spartanburg Flex Space For Lease

      Flex space featuring office and warehouse areas, near I-26.
      3211 Reidville Rd, Spartanburg, SC 29301
      View Details
    • $23 SF/Yr
      2,268 SF

      Class A Office Suite

      Available office suite in Spartanburg's Point West Office Complex.
      775 Spartan Blvd, Spartanburg, SC 29301
      View Details
    • $11 SF/Yr
      4,000 SF

      Spartanburg Office Space Available

      4,000 sq. ft. office space for rent.
      170 Camelot Dr, Spartanburg, SC 29301
      View Details
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    115 Powell Ml Rd
    Spartanburg, SC 29301-1531
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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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