Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    540 Locust Grv Spartanburg, SC 29303-4832

    • Industrial properties
    • 16,184 SF
    • 3.08 lot acres
    OFF-MARKET
    Last Sale
    Mar 12, 2024
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1127056
    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

    • Snider Fleet Solutions / Tire Shop

    Property Details for 540 Locust Grv

    Year built
    2003
    Construction
    CONCRETE BLOCKS
    Lot size
    3.08 lot acres
    Property size
    16,184 SF
    Property type
    Industrial properties
    APN
    2-5600-00726
    APU
    2560000726

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $696,000
      Market price range: $369k - $697k
      AI Estimate
      $708,000
      Market price range: $214k - $897k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $550,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9818
    Latitude
    35.0049
    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
    $15,012
    $4,518
    $36,702
    $41,220
    -
    $75,300
    $611,700
    $687,000

    Comparable in this City

    • Value Estimation by Request
      6,000 SF

      400 State Rd

      Distribution properties • 6,000 SF
      400 State Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      952 SF

      825 Chesnee Hwy

      INDUSTRIAL (GENERAL) • 952 SF
      825 Chesnee Hwy, Spartanburg, SC 29303-2361
      View Details
    • Value Estimation
      $570,000
      15,452 SF

      685 John Dodd Rd

      INDUSTRIAL (GENERAL) • 15,452 SF
      685 John Dodd Rd, Spartanburg, SC 29303-6314
      View Details
    • Value Estimation by Request
      20,400 SF

      117 Southwest Dr

      Distribution properties • 20,400 SF
      117 Southwest Dr, Spartanburg, SC 29303
      View Details
    • Value Estimation by Request
      5,200 SF

      650 Buffington Rd

      Flex space • 5,200 SF
      650 Buffington Rd, Spartanburg, SC 29303
      View Details
    • Value Estimation
      $1,210,000
      54,079 SF

      4250 Orch Park Blvd

      INDUSTRIAL (GENERAL) • 54,079 SF
      4250 Orch Park Blvd, Spartanburg, SC 29303-4400
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36,575 SF

      Industrial Property in Spartanburg

      Industrial property with 36,575 square feet of space.
      100 Southwest Dr, Spartanburg, SC 29303
      View Details
    • $450,000
      0.26 Acres

      Spartanburg Warehouse - $450K

      Industrial Warehouse, 0.26 Acres
      1074 Asheville Hwy, Spartanburg, SC 29303
      View Details
    • $1,866,150
      33.90 Acres

      Spartanburg Industrial Land - 33 Acres

      Prime Spartanburg industrial acreage, utilities available.
      0 Austrian Way, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      210,000 SF

      Spartanburg Industrial Space on I-85

      Class A industrial space with excellent I-85 access.
      163 Bryant Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      159,500 SF

      Spartanburg Industrial Space on I-85

      Class A industrial space with excellent I-85 access and visibility.
      740 Bryant Rd, Spartanburg, SC 29303
      View Details
    • $8,000,000
      152,000 SF

      Spartanburg Warehouse Space Available

      152,000 sq ft warehouse in Spartanburg, South Carolina.
      46 Ash St, Spartanburg, SC 29303
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3 SF

      Industrial Building with Outdoor Storage

      Industrial building with outdoor storage space available for lease.
      7915 Valley Falls Rd, Spartanburg, SC 29303
      View Details
    • $8 SF/Yr
      5,200 SF

      Industrial Space in Spartanburg

      5,200 SF industrial property available for lease.
      650 Buffington Rd, Spartanburg, SC 29303
      View Details
    • Contact for pricing

      Spartanburg Industrial Land Opportunity

      Prime 3-15 acre lot, ideal for various uses.
      7915 Valley Falls Rd, Spartanburg, SC 29303
      View Details
    • $8 SF/Yr
      6,000 SF

      Spartanburg Warehouse: 6,000 SF

      Prime Spartanburg industrial space available.
      400 State Rd, Spartanburg, SC 29303
      View Details
    • $5 SF/Yr
      115,000 SF

      Spartanburg Warehouse Space Available

      115,000 square foot warehouse space for lease in Spartanburg.
      250 Broadcast Dr, Spartanburg, SC 29303
      View Details
    • Contact for pricing
      15,000 SF

      Spartanburg Flex Space Available

      Move-in ready flex unit with warehouse space for lease.
      111 Corporate Dr, Spartanburg, SC 29303
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    540 Locust Grv
    Spartanburg, SC 29303-4832
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.