For Lease
$17/SF/YR

116 Magnolia StSpartanburg, SC 29306

Prime Restaurant Space, 5,500 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 5,500-square-foot restaurant space is ideally situated in the heart of Spartanburg's Central Business District (CBD), at 116 Magnolia St, with convenient access from both Magnolia and Spring Streets. The property boasts a prime location, directly across from the Magnolia Street Parking Garage, ensuring ample parking for patrons. The building sits on a half-acre lot (0.5 acres) and is zoned for commercial use (APN: 7-12-20-007.00, Spartanburg County, SC). The interior features a spacious dining room, a full-service bar, a well-equipped kitchen, and three bathrooms on the main level. A large banquet area with its own bar and two additional bathrooms is located on the second floor, offering versatile event space. High ceilings, hardwood floors, and a freshly painted interior create a sophisticated ambiance. Outdoor seating is possible via a sidewalk/patio area. The lease rate is $17.00 per square foot, NNN, with estimated NNN expenses of $2.95 per square foot. This vibrant location benefits from significant ongoing redevelopment within a one-mile radius, with approximately $700 million in new projects underway. Nearby establishments include Myako's Restaurant, Prudential, C. Dan Joyner, the Spartanburg Children's Museum, CCNB, Work Lounge, and various retail shops. This presents a unique opportunity to establish or relocate a thriving restaurant business in a rapidly growing area. The entire 5,500 square feet is currently vacant.

Highlights

  • 5,500 SF restaurant space available for lease in Downtown Spartanburg.
  • Lease rate: $17.00/SF, NNN, with estimated NNN expenses of $2.95/SF.
  • Prime location in the Central Business District (CBD), at 116 Magnolia St, with access from Magnolia and Spring Streets, across from a parking garage.
  • Features a dining room, full-service bar, kitchen, and three bathrooms on the main level; a large banquet area with a bar and two additional bathrooms on the second floor.
  • High ceilings, hardwood floors, and a freshly painted interior; sidewalk/patio dining available.
  • Surrounded by strong co-tenancy including Myako's Restaurant, Prudential, and other businesses; $700 million in nearby redevelopment projects.

Property Details for 116 Magnolia St

Property type
Restaurants
RSF (Rentable sq. ft)
5,500 SF

Unit(s) available at that property

Space
Size
5,500 SF
Rate per SF
$17

Location Insight

City
Spartanburg
County
Spartanburg
State
South Carolina
Latitude
34.949713757179
Longitude
-81.933276187937
116 Magnolia St, Spartanburg, South Carolina

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116 Magnolia St
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