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

    2650 Main St Spartanburg, SC 29307-1431

    • Office buildings
    • 3,225 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2025
    $675,000
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    9.2%
    Office buildings
    Location Intelligence
    Property ID
    US77-1340944
    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

    • Abc Package Store / Liquor Store
    • Wine and Spirits Shoppe - East Main Street / Liquor Store

    Property Details for 2650 Main St

    Year built
    1974
    Construction
    BRICK
    Lot size
    0.43 lot acres
    Property size
    3,225 SF
    Property type
    Office buildings
    APN
    7-0900-01101
    APU
    7090001101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $885,000
      6.5%
      $820,000
      7%
      $760,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $460,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.8714
    Latitude
    34.9797
    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
    $5,933
    $6,614
    $7,658
    $14,272
    -
    $114,770
    $132,900
    $247,670

    Comparable in this City

    • Value Estimation
      $265,000
      1,985 SF

      1445 Main St

      OFFICE BUILDING • 1,985 SF
      1445 Main St, Spartanburg, SC 29307-2240
      View Details
    • Value Estimation
      $400,000
      1,920 SF

      2066 Pecan Dr

      OFFICE BUILDING • 1,920 SF
      2066 Pecan Dr, Spartanburg, SC 29307-3920
      View Details
    • Value Estimation
      $205,000
      6,339 SF

      1595 Skylyn Dr

      OFFICE BUILDING • 6,339 SF
      1595 Skylyn Dr, Spartanburg, SC 29307-1078
      View Details
    • Value Estimation
      $300,000
      4,590 SF

      1514 Fernwood Glendale Rd

      OFFICE BUILDING • 4,590 SF
      1514 Fernwood Glendale Rd, Spartanburg, SC 29307-3660
      View Details
    • Value Estimation
      $480,000
      3,024 SF

      200 Heywood Ave

      OFFICE BUILDING • 3,024 SF
      200 Heywood Ave, Spartanburg, SC 29307-1706
      View Details
    • Value Estimation
      $260,000
      1,094 SF

      2375 Main St, Unit A3

      OFFICE BUILDING • 1,094 SF
      2375 Main St, Spartanburg, SC 29307-1434
      View Details

    Similar Nearby for Sale

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      Spartanburg Medical/Office Building For Sale

      9,594 SF medical/office building near downtown Spartanburg.
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    • $1,810,000
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      Spartanburg Office Building For Sale

      7,200 SF office building near Spartanburg Medical District.
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      11,058 SF

      Spartanburg Medical Office Building

      11,058 SF medical building; strong tenant base.
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    • $1,975,000
      7.76 Acres

      Main St. Commercial Land Opportunity

      7.76 Acres, High-Visibility Location
      2700 Main St, Spartanburg, SC 29307
      View Details
    • $1,200,000
      1.60 Acres

      Spartanburg Commercial Land

      1.6 Acres, High Visibility, B-1 Zoning
      0 Main St, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1.00 Acre

      Spartanburg Mixed-Use Land

      Prime Eastside development opportunity.
      2910 Main St, Spartanburg, SC 29307
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,014 SF

      Renovated Office Space For Rent

      Newly renovated office space near downtown Spartanburg available for rent.
      1335 Drayton Rd, Spartanburg, SC 29307
      View Details
    • $2,100 /Mo
      1,866 SF

      Office Space Near Shopping Center

      Office space for rent across from Willow Place Shopping Center.
      1586 Skylyn Dr, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1,700 SF

      Spartanburg Office Space For Rent

      Office space available for rent in Spartanburg, SC.
      135 West Main Street Ext, Spartanburg, SC 29307
      View Details
    • $15 SF/Yr
      6,900 SF

      Prime Spartanburg Executive Office Space

      4,400 SF Available, Ample Parking
      1023 Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
    • $12 SF/Yr
      5,000 SF

      Flex Space Available for Lease

      5,000 SF flex space available Spring 2024.
      855 Gossett Rd, Spartanburg, SC 29307
      View Details
    • $28 SF/Yr
      53,571 SF

      Historic Mill Office Space Available

      Creative office space in a vibrant mixed-use community.
      1802 Drayton Rd, Spartanburg, SC 29307
      View Details
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    2650 Main St
    Spartanburg, SC 29307-1431
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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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