Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2611 New Cut Rd Spartanburg, SC 29303-6323
    Back to Search
    Property profile & analytics

    2611 New Cut Rd, Spartanburg, SC 29303-6323

    View on Map
    • Banks
    • 4,681 SF
    • 0.20 lot acres
    Off-Market
    Property ID
    US77-1473123
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wells Fargo ATM / Atm

    Property Details for 2611 New Cut Rd

    Lot size
    0.20 lot acres
    Property type
    Banks
    APN
    6-0600-04506
    APU
    6060004506

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 31, 2017 $171,600 North Spartanburg Fire & Emerg Wingo Park LLC Grant Deed —
    Dec 28, 2005 — Wingo Park LLC Spartanburg County Foundation Grant Deed —
    Sep 7, 2004 — Spartanburg County Foundatio Wachovia Bank Of Sc Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.031
    Latitude
    34.9923
    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
    $312
    $892
    $0.00
    $892
    -
    $16,854
    $0.00
    $16,854

    Comparable in this City

    • Value Estimation by Request
      5,502 SF

      130 Town Dr

      FINANCIAL BUILDING
      130 Town Dr, Spartanburg, SC 29303-2070
      View Details
    • Value Estimation by Request
      2,014 SF

      960 Charisma Dr

      FINANCIAL BUILDING
      960 Charisma Dr, Spartanburg, SC 29303-2064
      View Details
    • Value Estimation by Request
      2,520 SF

      930 Charisma Dr

      FINANCIAL BUILDING
      930 Charisma Dr, Spartanburg, SC 29303-2064
      View Details
    • Value Estimation by Request
      2,778 SF

      1206 Asheville Hwy

      FINANCIAL BUILDING
      1206 Asheville Hwy, Spartanburg, SC 29303-2153
      View Details
    • Value Estimation by Request
      4,857 SF

      1787 Asheville Hwy

      FINANCIAL BUILDING
      1787 Asheville Hwy, Spartanburg, SC 29303-2059
      View Details
    • Value Estimation by Request
      4,131 SF

      1307 Boiling Spgs Rd

      FINANCIAL BUILDING
      1307 Boiling Spgs Rd, Spartanburg, SC 29303-2245
      View Details

    Similar Nearby for Sale

    • $374,999
      0.50 Acres

      Spartanburg Commercial Renovation Opportunity

      Commercial building with renovation in progress, offering significant upside potential.
      706 W Main St, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Free-Standing Building Near Downtown

      Free-standing building near downtown Spartanburg with high traffic.
      916 Howard St, Spartanburg, SC 29303
      View Details
    • $3,205,200

      New Bojangles Restaurant For Sale

      New single-tenant Bojangles with drive-thru in a prime location.
      2290 Chesnee Hwy, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      3,000 SF

      Bojangles Restaurant For Sale

      NNN Bojangles restaurant for sale near I-26.
      326 John Dodd Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Retail/Development Site For Sale

      2+/- acres with 2,100+/- sq ft building near I-85.
      103 Jones Rd, Spartanburg, SC 29303
      View Details
    • $459,000
      1.03 Acres

      Spartanburg Restaurant & Bar Opportunity

      Turnkey operation, high-traffic location.
      280 Whitney Rd, Spartanburg, SC 29303
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,544 SF

      Flexible Space in Northside Community

      Adaptable retail and office spaces in a prime location.
      300 Aden St, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Retail Spaces in Pinewood Mall

      Micro-retail spaces available in redeveloping Pinewood Shopping Center.
      1000 N Pine St, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      2,800 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces for lease near major Spartanburg landmarks.
      110 Garner Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      15,000 SF

      Spartanburg Warehouse/Flex Space Available

      15,000 SF warehouse/flex space with showroom/office in Spartanburg, SC.
      511 Bryant Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      3,864 SF

      Retail Space on I-85 Business

      Retail property with frontage and proximity to multifamily developments.
      100 Simuel Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Asheville Highway

      Retail space for lease near major universities and downtown.
      1564 Asheville Hwy, Spartanburg, SC 29303
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2611 New Cut Rd
    Spartanburg, SC 29303-6323
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2611 New Cut Rd, Spartanburg, SC, 29303
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!