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Property profile & analytics
FOR LEASE
Commercial real estate
2401 Reidville Rd Spartanburg, SC 29301
Individually Owned
3-yr Hold
Free & Clear
Property ID
US77-0131693
For Lease
1 / 2
$2,735,000
2401 Reidville Rd, Spartanburg, SC 29301
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1987
Construction
CONCRETE BLOCKS
Total area
48,624 SF
Lot
4.89 ac (213,096 SF)
APN
6-2400-07901
UPID
US77-0131693
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hunan K Restaurant Restaurant
-
El Limon - Spartanburg Restaurant
-
Angel Nails Nail Salon
-
Oak Forest Plaza Business Service Center Corporate Office
-
Facial Goddess 2 a Tee (Bike/Boat/Book/etc) Store Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.72M
Blend (final)
Blend
$2.74M
Owner & transaction history
Waterstone Southeast Spartan Portfo · 3 yrs held
Waterstone Southeast Spartan Portfo
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.4M
+9.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spartanburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spartanburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,040,000
Current use
RETAIL STORES
$4,430,000
Change: +10% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,825,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,735,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$2.74M
Range $2.46M – $3.01M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$56 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$64,534
Tax year 2023
Assessed value
$186,300
Assessed 2023
Previous assessed
$186,300
+0.0% YoY
Effective rate
34.64%
On assessed value
Assessed land
$49,326
Assessed improvement
$136,974
Land market value
$822,100
Improvement market value
$2,282,900
Total market value
$3,105,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1987
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
48,624 SF
Lot
4.89 ac (213,096 SF)
APN
6-2400-07901
UPID
US77-0131693
Jurisdiction
SPARTANBURG
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
RETAIL STORES
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
4
Lot
4.89 ac
Current owner
From public records · entity-resolved
Waterstone Southeast Spartan Portfo
Individual
Free & Clear · 3 yrs held
Mailing address
250 1ST AVE STE #202, NEEDHAM HEIGHTS, MA 02494-2886
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
—
Waterstone Southeast Spartan Portfo
Waterstone Southeast Portfolio LLC
Deed
—
Feb 6, 2014
—
Waterstone Southeast Portfolio LLC
2401 Reidville Road LLC
Deed
—
Feb 21, 2011
—
2401 Reidville Road LLC
—
Deed Of Trust
related
$9,406,980 · Anglo Irish Bank Corp
Dec 27, 2007
$7,432,088
2401 Reidville Road LLC
I-26 Associates LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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