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    442 Church St Spartanburg, SC 29306
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    Property profile & analytics

    442 Church St, Spartanburg, SC 29306

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    • Flex space
    • 7,200 SF
    Off-Market
    Property ID
    US77-0359574
    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

    • Discounted Appliance Warehouse - New Appliances - Spartanburg / Home Appliance Store / Hardware & Home Improvement
    • Integrarte / Training Center

    Property Details for 442 Church St

    Year built
    1986
    Property type
    Flex space
    APN
    7-16-02-187.00

    Description

    This exceptional 7,200-square-foot flex space, located at 442 S Church Street in Spartanburg, South Carolina, presents a unique investment opportunity. Built in 1986 and extensively renovated in 2023, this single-story building boasts a contemporary design with abundant natural light. The versatile, open-concept floor plan offers exceptional flexibility for a variety of uses. The property features a 12-foot ceiling height, providing ample vertical space. Its prime location on a major downtown corridor places it seconds away from a significant $700 million in ongoing downtown development projects. The building is fully conditioned, offering climate-controlled workspace, and includes valuable storage or warehousing capabilities. New concrete parking further enhances the property's appeal. The property's address is 442 S Church St, Spartanburg, SC 29306, and its APN is 7-16-02-187.00. This is a single-tenancy building situated in Spartanburg County. The modern design, combined with its strategic location and recent renovations, makes this property an ideal choice for businesses seeking a high-quality, adaptable space in a rapidly growing area. The property offers a blend of modern amenities and a prime location, making it a compelling investment opportunity.

    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
    -81.9286316
    Latitude
    34.939775

    Comparable in this City

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      Spartanburg Warehouse Redevelopment

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      24,000 SF

      Warehouse Near Downtown Spartanburg

      24,000 SF warehouse on 2.26 acres near US-221.
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      Retail Space For Sale

      Retail space available for purchase.
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      0.75 Acres

      Residential Lots in Sherwood Acres

      Two residential lots for sale in Spartanburg, South Carolina.
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      Southport Road Acreage For Sale

      77+/- acres on Southport Road, suitable for retail.
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      7,000 SF

      7,000 SF Building on 1.19 Acres

      7,000 SF building on 1.19 acres with 100 parking spaces.
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    Similar Nearby for Sale

    • $2,400,000
      73,000 SF

      Spartanburg Warehouse Redevelopment

      ±73,000 SF Warehouse, ±5.91 Acres
      729 S Church St, Spartanburg, SC 29306
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      24,000 SF

      Warehouse Near Downtown Spartanburg

      24,000 SF warehouse on 2.26 acres near US-221.
      1020 S Church Street Ext, Spartanburg, SC 29306
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    • Contact for pricing

      Retail Space For Sale

      Retail space available for purchase.
      601 Union St, Spartanburg, SC 29306
      View Details
    • Contact for pricing
      0.75 Acres

      Residential Lots in Sherwood Acres

      Two residential lots for sale in Spartanburg, South Carolina.
      lot 13 & 14 S Church Street Ext, Spartanburg, SC 29306
      View Details
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      Southport Road Acreage For Sale

      77+/- acres on Southport Road, suitable for retail.
      2081 Southport Rd, Spartanburg, SC 29306
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      7,000 SF

      7,000 SF Building on 1.19 Acres

      7,000 SF building on 1.19 acres with 100 parking spaces.
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    Similar Nearby for Lease

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      2,477 SF

      Spartanburg Flex / Industrial Space

      Flex / industrial space available for lease in Spartanburg, SC.
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      Spartanburg Flex Building For Lease

      Flex building with office and outdoor storage in Spartanburg.
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      8,000 SF

      Spartanburg Warehouse with Fenced Yard

      8,000 SF warehouse with fenced yard for lease.
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      8,000 SF

      Spartanburg Warehouse Space Available

      8,000 SF warehouse space for rent in Spartanburg.
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      2,700 SF

      Showroom with Large Parking Area

      Showroom with offices, work bay, and ample parking.
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      1,660 SF

      Spartanburg Office Space Available

      Office space for rent in Spartanburg, South Carolina.
      210 Ezell St, Spartanburg, SC 29306
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    Spartanburg, SC 29306
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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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