Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 Main St Spartanburg, SC 29301-2033

    • Motels
    • 10,775 SF
    • 2.32 lot acres
    OFF-MARKET
    Last Sale
    Jan 09, 2025
    $440,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0728573
    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

    • West Main Street Motel / Hotel & Motel

    Property Details for 700 Main St

    Year built
    1968
    Construction
    BRICK
    Lot size
    2.32 lot acres
    Property size
    10,775 SF
    Property type
    Motels
    APN
    7-1116-03900
    APU
    7111603900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9501
    Latitude
    34.9437
    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
    $9,041
    $9,567
    $8,196
    $17,763
    -
    $159,455
    $136,600
    $296,055

    Comparable in this City

    • Value Estimation
      $3,075,000
      28,848 SF

      488 Blackstock Rd

      MOTEL • 28,848 SF
      488 Blackstock Rd, Spartanburg, SC 29301-3645
      View Details
    • Value Estimation
      $910,000
      69,095 SF

      801 Spartan Blvd

      MOTEL • 69,095 SF
      801 Spartan Blvd, Spartanburg, SC 29301-1372
      View Details
    • Value Estimation by Request
      24,926 SF

      501 Blackstock Rd

      MOTEL • 24,926 SF
      501 Blackstock Rd, Spartanburg, SC 29301-3627
      View Details
    • Value Estimation
      $720,000
      39,203 SF

      895 Spartan Blvd

      MOTEL • 39,203 SF
      895 Spartan Blvd, Spartanburg, SC 29301-1372
      View Details
    • Value Estimation
      $835,000
      47,916 SF

      458 Blackstock Rd

      MOTEL • 47,916 SF
      458 Blackstock Rd, Spartanburg, SC 29301-1361
      View Details
    • Value Estimation by Request
      10,180 SF

      1993 Reidville Rd

      MOTEL • 10,180 SF
      1993 Reidville Rd, Spartanburg, SC 29301-3611
      View Details

    Similar Nearby for Sale

    • $485,000
      1.10 Acres

      Prime Spartanburg Commercial Land

      1.1-Acre Lot, Excellent Visibility
      208 Exchange Village Dr, Spartanburg, SC 29301
      View Details
    • $218,500
      0.61 Acres

      Spartanburg Vacant Lot For Sale

      0.61 acre vacant lot with utilities in Spartanburg, SC.
      410 Spring St, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      0.32 Acres

      Residential Lot Near Downtown Spartanburg

      Residential lot suitable for building a cozy home or rentals.
      105 Williams St, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      50,748 SF

      Spartanburg Warehouse For Sale

      50,748 SF warehouse available in Spartanburg, South Carolina.
      51 Zima Park Rd, Spartanburg, SC 29301
      View Details
    • $49,900
      0.35 Acres

      Residential Lot in Spartanburg, SC

      Residential lot in a convenient location on Spartanburg's west side.
      5219 Pogue St, Spartanburg, SC 29301
      View Details
    • $2,879,000
      3,566 SF

      Applebee's Spartanburg, SC Investment

      High-yield NNN leased restaurant
      7602 Warren H Abernathy Hwy, Spartanburg, SC 29301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Retail Space in Spartanburg

      Retail space available for lease in Spartanburg, SC.
      9133 Warren H Abernathy Hwy, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      459,680 SF

      Spartanburg Warehouse Space Available

      Modern warehouse space, flexible layouts, immediate occupancy.
      0 Zimmerman Rd, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      4,000 SF

      Spartanburg Office Space Available

      4,000 sq. ft. office space for rent.
      170 Camelot Dr, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      1,600 SF

      Spartanburg Office Space For Rent

      Office space available for lease in Spartanburg, South Carolina.
      896 W Saint John St, Spartanburg, SC 29301
      View Details
    • Contact for pricing

      Retail Land for Lease/Sale

      Land parcels and retail spaces available for lease or sale.
      9758 Warren H Abernathy Hwy, Spartanburg, SC 29301
      View Details
    • Contact for pricing
      2,608 SF

      Retail Spaces Available For Lease

      Retail spaces available for lease near I-26 and Reidville Road.
      2670 Reidville Rd, Spartanburg, SC 29301
      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.
    700 Main St
    Spartanburg, SC 29301-2033
    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.
    Sign Up Successful!
    You now have access to more from Realmo!