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    54 Groce Rd Lyman, SC 29365

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    54 Groce Rd Lyman, SC 29365

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    • Retail space
    • 2,760 SF
    • 0.06 lot acres
    For Sale
    $250,000
    View Listing →
    Lyman Multi-Use Income Property For Sale
    $250,000
    2,200 SF

    Lyman Multi-Use Income Property

    Income-producing Lyman property with retail tenant and residential potential.

    54 Groce Road, Lyman, SC 29365
    View Listing
    Property ID
    US77-1387261
    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

    • Liberty Coins & Precious Metals / Big Box & Wholesale Store / (Bike/Boat/Book/etc) Store
    • Gold Buyers / Department Store

    Property Details for 54 Groce Rd

    Year built
    1928
    Construction
    BRICK
    Lot size
    0.06 lot acres
    Property size
    2,760 SF
    Property type
    Retail space
    APN
    5-1511-10200
    APU
    5151110200

    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
    Lyman
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -82.1231
    Latitude
    34.9502
    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
    $1,243
    $467
    $2,580
    $3,047
    -
    $7,788
    $43,000
    $50,788

    Comparable in this City

    • Value Estimation
      $565,000
      6,300 SF

      3282 Hwy 357

      RETAIL STORES (PERSONAL SERVICES) • 6,300 SF
      3282 Hwy 357, Lyman, SC 29365-9780
      View Details
    • Value Estimation by Request
      1,200 SF

      2980 Hwy 357

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      2980 Hwy 357, Lyman, SC 29365-9735
      View Details
    • Value Estimation by Request
      2,932 SF

      34 Groce Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,932 SF
      34 Groce Rd, Lyman, SC 29365-1630
      View Details
    • Value Estimation by Request
      3,264 SF

      10 Groce Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,264 SF
      10 Groce Rd, Lyman, SC 29365-1631
      View Details
    • Value Estimation by Request
      2,240 SF

      1098 Hampton Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,240 SF
      1098 Hampton Rd, Lyman, SC 29365-9617
      View Details
    • Value Estimation
      $850,000
      9,020 SF

      3361 Hwy 357

      RETAIL STORES (PERSONAL SERVICES) • 9,020 SF
      3361 Hwy 357, Lyman, SC 29365
      View Details

    Similar Nearby for Sale

    • New
      $250,000
      2,200 SF

      Lyman Multi-Use Income Property

      Income-producing Lyman property with retail tenant and residential potential.
      54 Groce Rd, Lyman, SC 29365
      View Details
    • Contact for pricing
      8,000 SF

      Lyman Industrial Property For Sale

      8,000 SF industrial property available in Lyman, South Carolina.
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    • $85,000
      0.75 Acres

      Landrum Homesite with Mountain Views

      0.75 acre homesite with mountain views near downtown Landrum.
      221 Turner Barton Rd, Landrum, SC 29365
      View Details
    • New
      $139,500
      0.71 Acres

      Lakeview Residential Lot in Lyman

      Residential lot with lake views and convenient location in Lyman, SC.
      350 Lyman Lake Rd, Lyman, SC 29365
      View Details
    • New
      $295,000
      0.30 Acres

      Lyman Lake Waterfront Residential Lot

      Waterfront lot with lake views, boathouse, and dock.
      196 Lyman Lodge Rd, Lyman, SC 29365
      View Details
    • $350,000
      1.90 Acres

      Lyman Commercial Corner Lot

      High-traffic location, development ready.
      2 Groce Rd, Lyman, SC 29365
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Duncan, SC

      Retail property for lease in a high-traffic area.
      E Wade Hampton Blvd & Pne Rdg Rd, Duncan, SC 29365
      View Details
    • $8 SF/Yr
      16,000 SF

      Lyman Retail Space - 16,000 SF

      High-visibility retail building, Hwy 29, SC.
      200 Spartanburg Hwy, Lyman, SC 29365
      View Details
    • $3 SF/Yr

      Subdivisible Industrial Space in Lyman

      449,000 SF industrial space for sublease near I-85.
      101 Groce Rd, Lyman, SC 29365
      View Details
    View Listing
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    Lyman, SC 29365
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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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    54 Groce Rd, Lyman, SC, 29365

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