1110 Simuel RdSpartanburg, SC 29301

  • Retail properties
  • 1,827 SF
For Lease
$36/SF/YR View listing

Property Details for 1110 Simuel Rd

Year built
1966
Construction
METAL FRAME
Lot size
0.62 AC
Property size (Sq ft)
1,827 SF
Property type
Retail properties
Property subtype
Grocery and convenience stores
APN
6-1200-06801
APU
6120006801

Description

This exceptional 10,000 square foot Class A retail property, located at 1110 Simuel Road in Spartanburg, South Carolina, presents a unique investment opportunity. The single-tenant building, renovated in 2023, features a 1,500 square foot end cap space with a drive-thru, ideally suited for a quick-service restaurant (QSR). Situated on 0.61 acres of land, the property boasts 24 parking spaces and benefits from its strategic location at the intersection of I-26 and I-85, offering unparalleled visibility and high traffic volume. The property is zoned commercial and is part of a bustling development including a new upscale C-Store with 16 fueling stations, a Cracker Barrel, and a soon-to-open 200-room Four Points by Sheraton hotel. This ensures consistent foot traffic and exposure to a diverse customer base, further enhanced by the proximity of Spartanburg Community College with approximately 6,000 students. The property's single-story design and easy access from Business 85 contribute to its exceptional convenience and accessibility. This is a rare opportunity to secure a prime retail space in a high-growth area of Spartanburg County (zip code 29301). The property has no elevators.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $518,691
    6.5%
    $478,791
    7%
    $444,592
  • Comparable approach

    Method
    Valuation
    Relative Method
    $379,051
    Geo Method
    $379,051
  • Alternative Use

    Use
    Valuation
    Residential
    $403,878
    Hospitality
    $369,950
    Educational
    $307,794
    Medical
    $318,380
    Retail
    $478,791
1110 Simuel Rd, Spartanburg, South Carolina

Location Insight

City
Spartanburg
County
Spartanburg
State
South Carolina
Latitude
34.9689
Longitude
-81.9999
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
$1,958
$3,630
$1,836
$5,466
-
$60,500
$30,600
$91,100

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