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

    117 Spears Creek Church Rd Elgin, SC 29045

    • Commercial real estate
    • 3,618 SF
    • 0.50 lot acres
    For Sale
    View listing
    $765,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-3091868
    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

    • Random Tap / Bar / Southern Restaurant (Us)

    Property Details for 117 Spears Creek Church Rd

    Year built
    1950
    Construction
    FRAME
    Lot size
    0.50 lot acres
    Property size
    3,618 SF
    Zone code
    GC
    Property type
    Commercial real estate
    APN
    R25807-01-01
    APU
    R258070101

    Description

    This exceptional turnkey restaurant opportunity is located at 117 Spears Creek Church Rd, Elgin, SC 29045, in Richland County. The property boasts 3,618 square feet of usable space, perfectly suited for a thriving food and beverage establishment. The main floor restaurant area encompasses 2,331 square feet, complemented by a 672 square foot studio apartment, ideal for owner occupancy or staff housing. Outdoor space is abundant, featuring a 615 square foot deck/porch and a sizable garden area perfect for outdoor seating. Ample on-site parking is available for patrons and staff. The main floor restaurant underwent a complete renovation in 2020, including upgrades to the HVAC system, roof, and electrical infrastructure. The commercial kitchen is fully equipped and ready for immediate use, featuring a state-of-the-art hood system, three-compartment sink, and a 1,000-gallon grease trap. This property is currently vacant and available for immediate possession, presenting a unique chance to acquire a well-maintained, fully operational restaurant in a desirable location. The asking price is $765,000. This is an owner/user investment opportunity with single tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Richland
    State
    South Carolina
    Longitude
    -80.8539
    Latitude
    34.1277
    CBSA code
    17900
    CBSA name
    COLUMBIA, 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
    $7,302
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $220,600

    Comparable in this City

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      941 Spears Crk Ct

      COMMERCIAL (GENERAL) • 1.13 Acres
      941 Spears Crk Ct, Elgin, SC 29045-8281
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      2.59 Acres

      10888 2nd Notch Rd

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      11,438 SF

      812 Bookman Rd

      COMMERCIAL (GENERAL) • 11,438 SF
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      121 Pontiac Business Ctr Dr

      COMMERCIAL (GENERAL) • 15,260 SF
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    • Value Estimation
      $955,000
      8,801 SF

      595 Spears Crk Church Rd

      COMMERCIAL (GENERAL) • 8,801 SF
      595 Spears Crk Church Rd, Elgin, SC 29045-9372
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11.25 Acres

      Columbia Commercial Land - 11 Acres

      Prime 11.25-acre development site in Northeast Columbia.
      567 Spears Creek Rd, Columbia, SC 29045
      View Details
    • $399,900
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      Elgin Commercial Live/Work Space

      Versatile Elgin property, 2400 sq ft, 0.92 acres.
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      Elgin Commercial Land Investment Opportunity

      High-traffic corner lot, redevelopment potential.
      10608 Two Notch Rd, Elgin, SC 29045
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    • $1,400,000
      7.00 Acres

      7-Acre Commercial Land in Elgin, SC

      Prime Elgin location, high traffic, $1.4M
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    • $395,000

      Elgin Industrial Land: $395,000

      ±2.65 Acres, M-1 Zoning, I-20 Access
      140 Pontiac Business Center Dr, Elgin, SC 29045
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    • $1,550,000
      8,815 SF

      Restaurant with Redevelopment Potential

      Existing restaurant near schools and military base with redevelopment potential.
      941 Spears Creek Ct, Elgin, SC 29045
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Elgin Commercial Land: 0.72 Acres

      Prime Development Site, Build-to-Suit Potential
      567 Spears Creek Church Rd, Elgin, SC 29045
      View Details
    • $35 SF/Yr
      1,300 SF

      Retail/Office/Medical Spaces For Rent

      Retail, office, and medical spaces available in Elgin, SC.
      551 Spears Creek Church Rd, Elgin, SC 29045
      View Details
    • Contact for pricing

      Elgin Commercial Land for Rent

      Approximately 2.96 acres of commercial land available for rent.
      S Old National Hwy, Elgin, SC 29045
      View Details
    • Contact for pricing

      Retail Space in Growing Corridor

      New retail development near residential growth and major roadways.
      Spears Crk Church Rd & Earth Rd, Columbia, SC 29045
      View Details
    • Contact for pricing
      1,750 SF

      Retail End-Cap with Drive-Thru Potential

      1,750 SF retail space with drive-thru potential in Elgin.
      566 Spears Creek Church Rd, Elgin, SC 29045
      View Details
    • $35 SF/Yr
      8,450 SF

      Spears Creek Plaza Medical Office

      Elgin, SC: Modern Medical Suites Available
      565 Spears Creek Church Rd, Elgin, SC 29045
      View Details
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    Elgin, SC 29045
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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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