117 Spears Creek Church RdElgin, SC 29045

Property Details for 117 Spears Creek Church Rd

Year built

1950

Construction

FRAME

Lot size

0.50 AC

Property size (Sq ft)

3,618 SF

Zone code

GC

Property type

Commercial real estate

APN

R25807-01-01

APU

R258070101

Description

This exceptional turnkey restaurant opportunity is located at 117 Spears Creek Church Rd, Elgin, SC 29045, in Richland County. The property boasts 3,618 square feet of usable space, perfectly suited for a thriving food and beverage establishment. The main floor restaurant area encompasses 2,331 square feet, complemented by a 672 square foot studio apartment, ideal for owner occupancy or staff housing. Outdoor space is abundant, featuring a 615 square foot deck/porch and a sizable garden area perfect for outdoor seating. Ample on-site parking is available for patrons and staff. The main floor restaurant underwent a complete renovation in 2020, including upgrades to the HVAC system, roof, and electrical infrastructure. The commercial kitchen is fully equipped and ready for immediate use, featuring a state-of-the-art hood system, three-compartment sink, and a 1,000-gallon grease trap. This property is currently vacant and available for immediate possession, presenting a unique chance to acquire a well-maintained, fully operational restaurant in a desirable location. The asking price is $765,000. This is an owner/user investment opportunity with single tenancy.

• CAP approach

  CAP return

  Valuation

  6%

  $577,865

  6.5%

  $533,414

  7%

  $495,313

• Comparable approach

  Method

  Valuation

  Relative Method

  $220,982

  Geo Method

  $612,672

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,076,060

  Retail / Commercial

  $546,730

  Mixed-Use / Specialty

  $540,787

  Hospitality / Lodging

  $391,558

  Office

  $533,414

  Institutional / Educational

  $560,773

  Residential Income

  $656,104

  Multifamily

  $809,039

  Automotive / Energy

  $480,662

  Parking / Income-Based Land

  $169,817

  Restaurant / Food Service

  $272,743

  Healthcare / Senior Housing

  $558,663

Location Insight

City

Elgin

County

Richland

State

South Carolina

Latitude

34.1277

Longitude

-80.8539

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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