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    Property profile & analytics

    1624 Main St Spartanburg, SC 29307-2233

    • Retail space
    • 1,771 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0870857
    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

    • Little River Drive-Thru / Take-out & Catering / Cafe & Coffee Shop
    • Loanmax Title Loans / Loan Service
    • Cash Loans / Loan Service

    Property Details for 1624 Main St

    Year built
    1970
    Construction
    BRICK
    Lot size
    0.70 lot acres
    Property size
    1,771 SF
    Property type
    Retail space
    APN
    7-0913-15001
    APU
    7091315001

    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
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.8977
    Latitude
    34.9653
    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
    $10,669
    $14,962
    $6,773
    $21,735
    -
    $268,200
    $121,400
    $389,600

    Comparable in this City

    • Value Estimation
      $755,000
      7,201 SF

      2282 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,201 SF
      2282 Main St, Spartanburg, SC 29307-1419
      View Details
    • Value Estimation
      $550,000
      1,100 SF

      122 Old Converse Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      122 Old Converse Rd, Spartanburg, SC 29307
      View Details
    • Value Estimation by Request
      1,380 SF

      1931 Cannons Campground Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,380 SF
      1931 Cannons Campground Rd, Spartanburg, SC 29307-1510
      View Details
    • Value Estimation by Request
      1,500 SF

      2801 Cannons Campground Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      2801 Cannons Campground Rd, Spartanburg, SC 29307-2829
      View Details
    • Value Estimation
      $1,725,000
      12,210 SF

      2125 Main St

      RETAIL STORES (PERSONAL SERVICES) • 12,210 SF
      2125 Main St, Spartanburg, SC 29307-1457
      View Details
    • Value Estimation by Request
      5,000 SF

      1914 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1914 Main St, Spartanburg, SC 29307-2305
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property in Spartanburg, SC

      Located on main retail corridor near Spartanburg High School.
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      11,925 SF

      Versatile Commercial Building Near Hospital

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      Premium outparcels in a high-traffic, growing commercial corridor.
      2300 E Main St, Spartanburg, SC 29307
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    • $850,000
      1.00 Acre

      Spartanburg Retail Land - $850K+

      Prime East Side Spartanburg land, QSR/Restaurant ready.
      2300 Main St, Spartanburg, SC 29307
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    • $2,860,000
      4,640 SF

      Panera Bread Ground Lease Opportunity

      Corporate-guaranteed Panera Bread store with rental growth potential.
      1811 E Main St, Spartanburg, SC 29307
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    • Contact for pricing
      10,000 SF

      Prime Land on E. Main

      7.76 acres on a busy commercial corridor, redevelopment opportunity.
      2700 E Main St, Spartanburg, SC 29307
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    Similar Nearby for Lease

    • Contact for pricing
      11,700 SF

      Retail Outparcel on East Main

      Retail space available on a high-traffic corridor.
      1200 E Main St, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1,572 SF

      Retail Space For Rent

      Retail space available for lease in Spartanburg, South Carolina.
      200 Dawn Redwood Dr, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space on Fernwood Drive

      Retail space available for lease in Spartanburg, South Carolina.
      140 Fernwood Dr, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      24,000 SF

      Adaptable Commercial Space, High Visibility

      24,000 SF of customizable space with excellent I-85 visibility.
      415 Sha Ln, Spartanburg, SC 29307
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    • Contact for pricing
      5,500 SF

      Retail/Restaurant Space For Lease

      Retail or restaurant space for lease, approximately 5,500 SF.
      1059 Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
    • Contact for pricing

      1057 Fernwood Glendale Rd, Spartanburg, SC 29307

      Retail space
      1057 Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
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    1624 Main St
    Spartanburg, SC 29307-2233
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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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