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    488 Blackstock Rd Spartanburg, SC 29301-3645
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    Property profile & analytics

    488 Blackstock Rd, Spartanburg, SC 29301-3645

    View on Map
    • Motels
    • 28,848 SF
    • 1.96 lot acres
    Off-Market
    Last Sale Apr 15, 2025
    $3,500,000
    Property ID
    US77-1288185
    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
    $3,075,000
    Show details
    Cap Rate Potential
    5.3%
    Motels
    Location Intelligence

    Current Use by Public Records

    • Super 8 by Wyndham Spartanburg/I-26 Exit 22 / Hotel & Motel
    • Westside Affordable Towing and Recovery / Auto Repair Shop
    • JR Used Tires & Auto Repair / Auto Parts Store / Discount Store

    Property Details for 488 Blackstock Rd

    Year built
    1998
    Construction
    BRICK
    Lot size
    1.96 lot acres
    Property type
    Motels
    APN
    6-2016-05300
    APU
    6201605300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 15, 2025 $3,500,000 Om Shivaay LLC Shri Ram Holdings LLC Deed —
    Apr 15, 2025 — Om Shivaay LLC Shri Ram Group LLC Quitclaim Deed · related —
    Jun 4, 2021 $270,600 Shri Ram Holdings LLC The Octavia Company Deed $216k · First Palmetto Bank
    Aug 20, 2020 — Shri Ram Group LLC — Deed · related $1.5M · First Palmetto Bk
    Feb 21, 2020 — Shri Ram Group LLC — Deed · related $1.1M · First Palmetto Bank
    — — Shri Ram Group LLC — Deed Of Trust · related $1.5M · First Palmetto Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,985,000
      ML approach
      $2,965,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,640,000
      6.5%
      $2,435,000
      7%
      $2,260,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,170,000
      MEDICAL BUILDING
      $2,775,000
      RESTAURANT
      $2,455,000
      COMMERCIAL (GENERAL)
      $2,425,000
      AUTO REPAIR, GARAGE
      $2,025,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9912
    Latitude
    34.9231
    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
    $44,007
    $18,342
    $108,702
    $127,044
    -
    $305,700
    $1,811,700
    $2,117,400

    Comparable in this City

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    • Value Estimation
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      47,916 SF

      458 Blackstock Rd

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      10,180 SF

      1993 Reidville Rd

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    • Value Estimation by Request
      24,926 SF

      501 Blackstock Rd

      MOTEL
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    • Value Estimation
      $720,000
      39,203 SF

      895 Spartan Blvd

      MOTEL
      895 Spartan Blvd, Spartanburg, SC 29301-1372
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      10 acres with 1,400 ft frontage on I-26.
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      Land Parcels for Lease or Sale

      Land parcels available for ground lease, build to suit, or sale.
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      Retail Land for Lease/Sale

      Land parcels available for ground lease, build to suit, or sale.
      195-191 Watershed Way, Spartanburg, SC 29301
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      2,537 SF

      Office Space on Blackstock Rd

      Office space with open floorplan, monument signage, and ample parking.
      296 E Blackstock Rd, Spartanburg, SC 29301
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      Land in Retail Corridor

      Land in a strong retail corridor near multiple retailers.
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    Similar Nearby for Lease

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      4,500 SF

      Retail Space with Highway Access

      4,500 SF retail space with flexible terms and visibility.
      2799 Reidville Rd, Spartanburg, SC 29301
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      50,000 SF

      Spartanburg Commercial Property for Rent

      50000 sqft commercial property available for rent.
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      4,000 SF

      Spartanburg Flex Space For Lease

      Flex space featuring office and warehouse areas, near I-26.
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      1,600 SF

      Retail Space Available Near I-26

      Retail space available near Exit 22 off I-26.
      2401 Reidville Rd, Spartanburg, SC 29301
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    • Contact for pricing
      9,000 SF

      Spartanburg Retail Showroom Space Available

      8,000 SF showroom with warehouse storage and tenant improvements.
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    Spartanburg, SC 29301-3645
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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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