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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Fernwood Glendale Rd Spartanburg, SC 29307

    • Apartment buildings
    • 1,400 SF
    • 0.75 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2021
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    4.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US77-2250258
    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

    • Apartment buildings

    Property Details for Fernwood Glendale Rd

    Lot size
    0.75 lot acres
    Property size
    1,400 SF
    Property type
    Apartment buildings
    APN
    7-1303-04401
    APU
    7130304401

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $190,000
      6.5%
      $175,000
      7%
      $165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spartanburg
    County
    Spartanburg
    State
    South Carolina
    Longitude
    -81.8812
    Latitude
    34.9616
    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
    $1,375
    $3,636
    $0.00
    $3,636
    -
    $60,600
    $0.00
    $60,600

    Comparable in this City

    • Value Estimation
      $275,000
      0.92 Acres

      Fernwood Glendale Rd

      APARTMENT HOUSE (5+ UNITS) • 0.92 Acres
      Fernwood Glendale Rd, Spartanburg, SC 29307
      View Details
    • Value Estimation
      $455,000
      25,951 SF

      1703 Skylyn Dr

      APARTMENT HOUSE (5+ UNITS) • 25,951 SF
      1703 Skylyn Dr, Spartanburg, SC 29307
      View Details
    • Value Estimation
      $280,000
      522 SF

      300 Regency Rd

      APARTMENT HOUSE (5+ UNITS) • 522 SF
      300 Regency Rd, Spartanburg, SC 29307-1800
      View Details
    • Value Estimation
      $375,000
      2,094 SF

      170 Kelly Rd

      MOBILE HOME PARK, TRAILER PARK • 2,094 SF
      170 Kelly Rd, Spartanburg, SC 29307-2865
      View Details
    • Value Estimation by Request
      2 SF

      151 Hoechst Dr

      MOBILE HOME PARK, TRAILER PARK • 2 SF
      151 Hoechst Dr, Spartanburg, SC 29307-4310
      View Details
    • Value Estimation by Request
      4.69 Acres

      2262 Main St

      Multifamily properties • 4.69 Acres
      2262 Main St, Spartanburg, SC 29307
      View Details

    Similar Nearby for Sale

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      0.69 Acres

      New Duplex Near I-85

      2022 duplex with quality finishes, near I-85, income potential.
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    • $249,000

      Spartanburg Duplex For Sale

      Duplex in Spartanburg, South Carolina available for purchase.
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    • $249,000
      0.44 Acres

      Well-Maintained Duplex in Spartanburg

      Single-level duplex with solid rental history, ideal for investors.
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      View Details
    • $1,200,000
      1.60 Acres

      Spartanburg Commercial Land

      1.6 Acres, High Visibility, B-1 Zoning
      0 Main St, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      1.00 Acre

      Spartanburg Mixed-Use Land

      Prime Eastside development opportunity.
      2910 Main St, Spartanburg, SC 29307
      View Details
    • $1,975,000

      7.76 Acres on E. Main

      7.76 acres on E. Main Street's busy commercial corridor.
      2700 E Main St, Spartanburg, SC 29307
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,966 SF

      2081 Main St

      Lifestyle centers • 26,966 SF
      2081 Main St, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      4,022 SF

      Main Street Commercial Property

      Spartanburg Office/Retail Space - High Traffic Area
      1948 Main St, Spartanburg, SC 29307
      View Details
    • $1,200,000

      Eastside Spartanburg Land for Lease

      1.6 acre commercial land with high visibility and traffic.
      2074 E Main St, Spartanburg, SC 29307
      View Details
    • $700 /Mo
      425 SF

      Premier Office Suite For Rent

      Executive office suite in a premier location with ample natural light.
      1451 E Main St, Spartanburg, SC 29307
      View Details
    • Contact for pricing
      11,700 SF

      Retail Outparcel on East Main

      Retail space available on a high-traffic corridor.
      1200 E Main St, Spartanburg, SC 29307
      View Details
    • $19 SF/Yr
      2,014 SF

      Renovated Office Space For Rent

      Newly renovated office space near downtown Spartanburg available for rent.
      1335 Drayton Rd, Spartanburg, SC 29307
      View Details
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    Fernwood Glendale Rd
    Spartanburg, SC 29307
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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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