109 William Jolley DrSpartanburg, SC 29303

Property Details for 109 William Jolley Dr

Year built

1972

Construction

METAL FRAME

Lot size

0.77 AC

Property size (Sq ft)

12,000 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

2-5512-06702

APU

2551206702

Description

This exceptional commercial property located at 109 William Jolley, Spartanburg, SC, presents a lucrative investment opportunity. The seven-unit building boasts a strong rental history, currently operating at full occupancy. Each unit includes a 96-100 square foot office space and a private bathroom, providing convenient and functional layouts for tenants. Four of the units offer substantial 2000 square foot bay areas, complete with roll-up doors and independent entrances, ideal for various commercial uses. The remaining three units feature 1300 square foot bay areas, similarly equipped with roll-up doors and separate entrances. The current rental income is robust, with four units generating $1300 per month, two units at $950 per month, and one unit at $1050 per month, resulting in a gross annual income of $98,700. Property taxes for 2023 were $4548, and insurance premiums for the same year totaled $5471. This fully leased, high-return investment property is priced at $1,300,000 and is ready for immediate sale. The property sits on a 0-acre lot. This is a turnkey investment with excellent potential for continued growth and strong cash flow. The property's location in Spartanburg, SC offers easy access to major transportation routes and a thriving local economy.

• CAP approach

  CAP return

  Valuation

  6%

  $5,292,070

  6.5%

  $4,884,980

  7%

  $4,536,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,580,740

  Geo Method

  $1,580,740

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $2,483,140

  Mixed-Use / Specialty

  $2,457,070

  Hospitality / Lodging

  $1,780,260

  Office

  $2,424,540

  Institutional / Educational

  $2,548,210

  Residential Income

  $2,981,410

  Multifamily

  $3,671,200

  Automotive / Energy

  $2,184,180

  Parking / Income-Based Land

  $770,746

  Restaurant / Food Service

  $1,241,190

  Healthcare / Senior Housing

  $2,537,340

Location Insight

City

Spartanburg

County

Spartanburg

State

South Carolina

Latitude

34.9934

Longitude

-81.9936

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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