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    566 Spears Creek Church Rd Elgin, SC 29229

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    566 Spears Creek Church Rd Elgin, SC 29229

    View on Map
    • Commercial real estate
    • 22,205 SF
    • 2.06 lot acres
    For Lease
    $2,810,000
    View Listing →
    Office/Retail/Restaurant Spaces For Rent For Lease
    $2,810,000
    2,645 SF

    Office/Retail/Restaurant Spaces For Rent

    Office, retail, and restaurant spaces available in growing commercial corridor.

    566 Spears Creek Church Rd, Elgin, SC 29229
    View Listing
    Property ID
    US77-1077950
    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
    $2,810,000
    Cap Rate Potential
    8.8%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Guild Mortgage - Beth Quick / Loan Service / Bank
    • Guild Mortgage - Michael Moschella / Loan Service / Bank
    • Ratio / Restaurant
    • Cortney Mullins, Realtor / Real Estate Agency
    • Chris Graham - REALTOR® / Real Estate Agency

    Property Details for 566 Spears Creek Church Rd

    Year built
    2009
    Construction
    FRAME
    Lot size
    2.06 lot acres
    Property size
    22,205 SF
    Zone code
    M-1
    Property type
    Commercial real estate
    APN
    R28803-01-02
    APU
    R288030102

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,610,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,830,000
      6.5%
      $3,535,000
      7%
      $3,285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,277,000
      Market price range: $1.33M - $4.80M
      AI Estimate
      $2,550,000
      Market price range: $1.33M - $4.80M

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Richland
    State
    South Carolina
    Longitude
    -80.834
    Latitude
    34.1079
    CBSA code
    17900
    CBSA name
    COLUMBIA, 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
    $77,462
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $2,212,500

    Comparable in this City

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    • Value Estimation by Request
      0.94 Acres

      551 Spears Crk Church Rd

      COMMERCIAL (GENERAL) • 0.94 Acres
      551 Spears Crk Church Rd, Elgin, SC 29045-9372
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    • Value Estimation
      $1,385,000
      12,750 SF

      14 Quality

      COMMERCIAL (GENERAL) • 12,750 SF
      14 Quality, Elgin, SC 29045
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    • Value Estimation by Request
      4,104 SF

      10601 2nd Notch Rd

      COMMERCIAL (GENERAL) • 4,104 SF
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    • Value Estimation by Request
      1,972 SF

      10616 2nd Notch Rd

      COMMERCIAL (GENERAL) • 1,972 SF
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      View Details
    • Value Estimation by Request

      421 Gibbs Rd

      Land
      421 Gibbs Rd, Elgin, SC 29045
      View Details

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    • Contact for pricing

      8.77 Acre Commercial Land Site

      8.77 acre commercial land for sale in Columbia, SC.
      123 Spears Creek Church Ln, Elgin, SC 29045
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Subdividable Manufacturing Facility in Elgin

      190,495 SF manufacturing facility on 78.23 acres for lease.
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      Land Near Interstate I-20

      Land available for rent, conveniently located near I-20.
      551 Spears Creek Church Rd, Elgin, SC 29045
      View Details
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      146,483 SF

      Elgin Office Space Available

      Office space available for lease in Elgin, South Carolina.
      565 Spears Creek Church Rd, Elgin, SC 29045
      View Details
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      Retail Space in New Development

      Retail space available in a new Publix-anchored development.
      Columbia Sc, Columbia, SC 29045
      View Details
    • Contact for pricing

      Retail Space in Growing Corridor

      New retail development near residential growth and major roadways.
      Spears Crk Church Rd & Earth Rd, Columbia, SC 29045
      View Details
    • Contact for pricing
      1,750 SF

      Retail End-Cap with Drive-Thru Potential

      1,750 SF retail space with drive-thru potential in Elgin.
      566 Spears Creek Church Rd, Elgin, SC 29045
      View Details
    View Listing
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    Elgin, SC 29229
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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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