701 Union HwyEnoree, SC 29335

Property Details for 701 Union Hwy

Year built

1931

Construction

CONCRETE BLOCKS

Lot size

0.42 AC

Property size (Sq ft)

1,500 SF

Property type

Retail properties

Property subtype

Retail space

APN

4-6300-06102

APU

4630006102

Description

This exceptional investment opportunity presents a fully renovated 1,500 square foot convenience store and restaurant located at 701 Union Hwy, Enoree, SC 29335, in Spartanburg County. The property sits on a lot ranging from 0.5 to 0.99 acres and includes two single-story buildings. Currently vacant, this turnkey operation boasts brand new equipment and prep stations, ready for immediate occupancy. The asking price is $179,000, representing a compelling price per square foot of $119.33. Financial projections indicate a strong pro-forma NOI of $72,000 and a remarkable pro-forma cap rate of 40.22%. This owner-user investment presents significant growth potential in a high-demand area. The property's APN is 4-63-00-061.02. This is a rare chance to acquire a well-equipped, renovated business in a thriving location. The property's previous success demonstrates its earning potential, making it an attractive proposition for savvy investors. Don't miss this chance to capitalize on this lucrative opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $425,854

  6.5%

  $393,096

  7%

  $365,018

• Comparable approach

  Method

  Valuation

  Relative Method

  $311,207

  Geo Method

  $311,207

• Alternative Use

  Use

  Valuation

  Residential

  $331,592

  Hospitality

  $303,736

  Educational

  $252,705

  Medical

  $261,396

  Retail

  $393,096

Location Insight

City

Enoree

County

Spartanburg

State

South Carolina

Latitude

34.6415

Longitude

-81.8607

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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