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

    2550 Reidville Rd Spartanburg, SC 29301-3500

    • Showrooms
    • 10,498 SF
    • 2.43 lot acres
    OFF-MARKET
    Value Estimations
    $1,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0653337
    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

    • Benson Hyundai Service / Auto Repair Shop
    • Robert Winecoff Automobile Sales and Leasing at Benson Hyundai / Car Dealership
    • Benson Hyundai / Car Dealership
    • Benson Hyundai Parts / Auto Parts Store

    Property Details for 2550 Reidville Rd

    Year built
    2005
    Construction
    CONCRETE BLOCKS
    Lot size
    2.43 lot acres
    Property size
    10,498 SF
    Property type
    Showrooms
    APN
    6-2000-02001
    APU
    6200002001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,310,000
      6.5%
      $2,130,000
      7%
      $1,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,768,000
      Market price range: $414k - $1.77M
      AI Estimate
      $1,357,000
      Market price range: $461k - $1.36M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,800,000
      MEDICAL BUILDING
      $1,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9979
    Latitude
    34.9198
    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
    $59,553
    $65,334
    $106,590
    $171,924
    -
    $1,088,900
    $1,776,500
    $2,865,400

    Comparable in this City

    • Value Estimation
      $1,170,000
      7,017 SF

      300 Saint John St

      SHOW ROOM, WAREHOUSE • 7,017 SF
      300 Saint John St, Spartanburg, SC 29301-2302
      View Details
    • Value Estimation by Request
      2,997 SF

      496 Main St

      SHOW ROOM, WAREHOUSE • 2,997 SF
      496 Main St, Spartanburg, SC 29301-2260
      View Details
    • Value Estimation
      $2,195,000
      13,141 SF

      2450 Reidville Rd

      SHOW ROOM, WAREHOUSE • 13,141 SF
      2450 Reidville Rd, Spartanburg, SC 29301-3652
      View Details
    • Value Estimation by Request
      11,245 SF

      1510 O. Ezell Blvd

      Individual retail properties • 11,245 SF
      1510 O. Ezell Blvd, Spartanburg, SC 29301
      View Details
    • Value Estimation by Request
      2,527 SF

      1703-1707 John B White Sr Blvd

      Individual retail properties • 2,527 SF
      1703-1707 John B White Sr Blvd, Spartanburg, SC 29301
      View Details
    • Value Estimation by Request
      6,234 SF

      1707 John B White Sr Blvd. Hwy

      Individual retail properties • 6,234 SF
      1707 John B White Sr Blvd. Hwy, Spartanburg, SC 29301
      View Details

    Similar Nearby for Sale

    • $995,000
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      Operating Retail Storefront For Sale

      Operating retail store with high traffic volume, inventory negotiable.
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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 Multi-Use Investment Opportunity

      Investment property with tenants in place near Spartanburg city limits.
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    • $200,000
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      Investment opportunity with retail space and tenant-occupied mobile home.
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    • Contact for pricing
      9,833 SF

      Spartanburg Retail Investment Opportunity

      Fully leased outparcel pad building in Spartanburg's prime retail area.
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    • $200,000
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      Mixed-Use Property in Spartanburg

      Investment opportunity with tenants in place near Spartanburg City Limits.
      170 S Blackstock Rd, Spartanburg, SC 29301
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    Similar Nearby for Lease

    • $15 SF/Yr
      9,000 SF

      Spartanburg Retail Showroom Space Available

      8,000 SF showroom with warehouse storage and tenant improvements.
      150 East Blackstock 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
    • $8 SF/Yr
      33,000 SF

      Retail Space in Spartanburg Corridor

      Sub-dividable retail space in Spartanburg's main retail corridor.
      1450 Wo Ezell Blvd, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Available Near I-26

      Retail space available near Exit 22 off I-26.
      2401 Reidville Rd, Spartanburg, SC 29301
      View Details
    • $22 SF/Yr
      4,500 SF

      Retail Space with Highway Access

      4,500 SF retail space with flexible terms and visibility.
      2799 Reidville Rd, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Spartanburg

      Retail space available for lease in Spartanburg, SC.
      9133 Warren H Abernathy Hwy, Spartanburg, SC 29301
      View Details
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    2550 Reidville Rd
    Spartanburg, SC 29301-3500
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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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