195 Image Dr Spartanburg, SC 29303-2160
- Auto shops
- 29,000 SF
- 4.00 lot acres
Current Use by Public Records
- Caliber Collision / Auto Repair Shop / Auto Restoration Service
Property Details for 195 Image Dr
- Year built
- 2004
- Construction
- METAL FRAME
- Lot size
- 4.00 lot acres
- Property size
- 29,000 SF
- Property type
- Auto shops
- APN
- 6-1302-01107
- APU
- 6130201107
Description
This exceptional investment opportunity presents a fee-simple interest in a two-building, 39,000-square-foot Caliber Collision portfolio situated on a 4-acre lot in Spartanburg, South Carolina. The property, built in 2004 and renovated in 2014, boasts a Class A designation and features a single tenant, credit-rated Caliber Collision, under a Net Net + lease with a corporate guarantee. The lease, commencing March 13, 2015, has a remaining term of approximately 0.4 years, with a lease expiration date of March 30, 2025. The current Net Operating Income (NOI) is $168,870, with a pro-forma NOI of $179,010. Rent increases are subject to CPI adjustments every three years, capped at a maximum of 6%. The property is zoned GC and enjoys a 100% occupancy rate. Located at 195 Image Dr, Spartanburg, SC 29303, this portfolio benefits from its position in a high-traffic area, offering significant long-term upside potential due to below-market rent and the possibility of future lease renegotiations or individual leasing. The land value is estimated at $60-$100 per square foot. This is a value-add investment opportunity with a single-tenant industrial focus.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,490,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,575,000
- 6.5%
- $2,350,000
- 7%
- $2,450,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,610,000
- Geo Method
- $2,115,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,060,000
- Retail
- $2,480,000
- Mixed-Use
- $2,330,000
- Hospitality
- $2,230,000
- Educational
- $2,175,000
- Residential Income
- $2,015,000
- Energy
- $2,150,000
- Income-Based Land
- $1,930,000
- Food Service
- $2,615,000
Location Insight
- Map
- Local Demand
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Longitude
- -81.9713
- Latitude
- 34.9811
- CBSA code
- 43900
- CBSA name
- SPARTANBURG, SC METROPOLITAN STATISTICAL AREA
