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    480 Floyd Rd Spartanburg, SC 29307
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    Property profile & analytics

    480 Floyd Rd Spartanburg, SC 29307

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    • Medical Office Space
    • 11,178 SF
    • 1.65 lot acres
    For Sale
    $1,340,000
    View Listing →
    11,058 SF Office Building For Sale For Sale
    $1,340,000
    11,058 SF

    11,058 SF Office Building For Sale

    11,058 SF fantastic medical investment opportunity

    480 Floyd Rd, Spartanburg, SC 29307
    View Listing
    Property ID
    US77-0844344
    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

    • Grady Orthopaedics / Physician
    • Walter Grady DO / Physician
    • John Scott Broderick MD / Physician
    • Medical Group of the Carolinas - Orthopaedic Trauma Services / Physician
    • Medical Group of the Carolinas - Orthopaedic Surgery - Eastside / Physician

    Property Details for 480 Floyd Rd

    Year built
    2005
    Construction
    BRICK
    Lot size
    1.65 lot acres
    Property size
    11,178 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    7-0900-00149
    APU
    7090000149

    Description

    This exceptional 11,058 square foot multi-tenant medical office building, located at 480 Floyd Rd in Spartanburg, South Carolina, presents a unique investment opportunity. Situated on a generous 1.649-acre lot, the property offers immediate occupancy with 4,950 square feet of vacant space currently available. The building is comprised of two suites, with flexible space options ranging from a minimum of 1,950 square feet to a maximum contiguous space of 3,000 square feet. This makes it ideal for a variety of medical practices, from individual physicians to larger group practices seeking expansion or relocation. The building's location in Spartanburg County, South Carolina, provides excellent access to major transportation routes and a thriving medical community. The property's address is 29307, offering convenient access for patients and staff alike. This is a rare opportunity to acquire a well-situated medical office building with significant potential for growth and immediate income generation. The building's existing infrastructure and layout provide a solid foundation for a successful medical practice. Don't miss this chance to secure a prime location in a desirable market. Contact us today to schedule a showing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,792,000
      Market price range: $685k - $2.43M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,600,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.8956
    Latitude
    34.9829
    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
    $44,788
    $6,376
    $100,827
    $107,203
    -
    $221,168
    $3,497,700
    $3,718,868

    Comparable in this City

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      4,841 SF

      1325 Drayton Rd

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      View Details
    • Value Estimation
      $895,000
      9,445 SF

      1540 Drayton Rd

      MEDICAL BUILDING • 9,445 SF
      1540 Drayton Rd, Spartanburg, SC 29307
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    • Value Estimation
      $1,380,000
      11,872 SF

      110 Dillon Dr

      MEDICAL BUILDING • 11,872 SF
      110 Dillon Dr, Spartanburg, SC 29307-1018
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    • Value Estimation by Request
      4,056 SF

      123 Dillon Dr

      MEDICAL BUILDING • 4,056 SF
      123 Dillon Dr, Spartanburg, SC 29307-1017
      View Details
    • Value Estimation by Request
      10,000 SF

      125 Dillon Dr

      MEDICAL BUILDING • 10,000 SF
      125 Dillon Dr, Spartanburg, SC 29307-1017
      View Details
    • Value Estimation by Request
      5,472 SF

      148 Dillon Dr

      MEDICAL BUILDING • 5,472 SF
      148 Dillon Dr, Spartanburg, SC 29307-1018
      View Details

    Similar Nearby for Sale

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      10,000 SF

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      6,440 SF

      Spartanburg Medical/Office Building For Sale

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

      Spartanburg Office Building For Sale

      7,200 SF office building near Spartanburg Medical District.
      130 Dillon Dr, Spartanburg, SC 29307
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    • Contact for pricing
      11,058 SF

      Spartanburg Medical Office Building

      11,058 SF medical building; strong tenant base.
      480 Floyd Rd, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      11,925 SF

      Versatile Commercial Building Near Hospital

      Adaptable commercial building suitable for medical, retail, or storage use.
      200 Dillon Cir, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      10,000 SF

      Prime Land on E. Main

      7.76 acres on a busy commercial corridor, redevelopment opportunity.
      2700 E Main St, Spartanburg, SC 29307
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      7,039 SF

      Premier Medical Office Space Available

      Class A medical office space in Spartanburg's prime location.
      1650 Skylyn Dr, Spartanburg, SC 29307
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Premier medical office space with wellness amenities and convenient location.
      1650 Skylyn Dr, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      3,000 SF

      Spartanburg Medical Office Space Available

      Medical office space for lease with ample parking.
      478-480 Floyd Rd, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      425 SF

      Premier Office Suite For Rent

      Executive office suite in a premier location with ample natural light.
      1451 E Main St, Spartanburg, SC 29307
      View Details
    View Listing
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    Spartanburg, SC 29307
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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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    480 Floyd Rd , Spartanburg, SC, 29307
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