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    901 S Pine St Spartanburg, SC 29303

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    901 S Pine St Spartanburg, SC 29303

    View on Map
    • Office buildings
    • 6,872 SF
    • 0.71 lot acres
    For Lease
    $20 SF/Yr
    View Listing →
    Renovated Office Space Available For Lease
    $20 SF/Yr
    1,500 SF

    Renovated Office Space Available

    Newly renovated office space in a high-visibility location.

    901 S Pine St, Spartanburg, SC
    View Listing
    Property ID
    US77-3084697
    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

    • Boys & Girls Clubs-Upstate Inc / Child Welfare Organization / Charitable Organization
    • Spartanburg County Bible Educ / Church / Mosque

    Property Details for 901 S Pine St

    Year built
    1977
    Construction
    BRICK
    Lot size
    0.71 lot acres
    Property size
    6,872 SF
    Property type
    Office buildings
    APN
    7-1701-07101
    APU
    7170107101

    Description

    This exceptional executive office building, located at 901 S Pine St in Spartanburg, South Carolina, presents a unique investment opportunity. The property boasts 6,872 square feet of well-appointed office space spread across two levels, encompassing a main floor and a lower level. The layout includes a welcoming lobby, numerous private offices to accommodate various team sizes, a versatile multi-purpose room, a formal conference room perfect for client meetings, a convenient breakroom, and four restrooms. The building sits on a sizable 0.712-acre lot, providing ample space and potential for future expansion. Parking is readily available with 23 designated spaces. The property is zoned for Limited Office District (LOD), ensuring its suitability for a range of professional uses. Its convenient location offers easy access to downtown Spartanburg, making it an attractive option for businesses seeking a central location. The Spartanburg County Tax Map number is 7-17-01-07-071.01. This turnkey office building is offered at an asking price of $655,000 and represents a compelling opportunity for investors and businesses alike. The property's combination of size, amenities, and location makes it an ideal choice for a variety of professional enterprises.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $610,000
      Market price range: $404k - $897k
      AI Estimate
      $513,000
      Market price range: $343k - $756k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $610,000
      Current use
      AUTO REPAIR, GARAGE
      $540,000
      Change: -11% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $530,000
      Change: -13% Conversion: Difficult
      RETAIL STORES
      $525,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.9033
    Latitude
    34.939
    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
    $390
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
      $570,000
      7,000 SF

      1004 Pne St

      OFFICE BUILDING • 7,000 SF
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      302 Pne St

      OFFICE BUILDING • 5,139 SF
      302 Pne St, Spartanburg, SC 29302-2617
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      407 Pne St

      OFFICE BUILDING • 2,626 SF
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      157 Pne St

      OFFICE BUILDING • 4,282 SF
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      101 Lafayette St

      OFFICE BUILDING • 7,092 SF
      101 Lafayette St, Spartanburg, SC 29302-2631
      View Details

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      Versatile Commercial Building in Spartanburg

      Adaptable commercial building suitable for office, retail, or automotive uses.
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      Versatile Commercial Building in Spartanburg

      Adaptable commercial building suitable for office, retail, or automotive uses.
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    • $95,000
      4.99 Acres

      Heavily Wooded Spartanburg Acreage

      4.99 acres perfect for hunting or building a home.
      461 Cowford Bridge Rd, Spartanburg, SC 29302
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    Similar Nearby for Lease

    • $15 SF/Yr
      1,800 SF

      Spartanburg Office Building For Lease

      1800 SF Office, Prime Location
      1971 S Pine St, Spartanburg, SC 29302
      View Details
    • $1,000 /Mo
      760 SF

      Spartanburg CBD Office Space

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      Spartanburg Office Space Available

      Office space available for rent in Spartanburg, South Carolina.
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      1,200 SF

      Spartanburg Office Space for Lease

      Office space available near downtown Spartanburg with on-site parking.
      301 N Pine St, Spartanburg, SC 29302
      View Details
    • Contact for pricing
      9,595 SF

      Warehouse/Office Space Available For Lease

      9,595 SF warehouse/office space with fenced laydown yard.
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      View Details
    • Contact for pricing
      2,040 SF

      Renovated Office Space Available

      Shared, newly renovated office space for rent.
      2710 Southport Rd, Spartanburg, SC 29302
      View Details
    View Listing
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    901 S Pine St
    Spartanburg, SC 29303
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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.

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    901 S Pine St, Spartanburg, SC, 29303

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