56 Groce RdLyman, SC 29365

Property Details for 56 Groce Rd

Year built

1928

Construction

BRICK

Lot size

0.07 AC

Property size (Sq ft)

2,106 SF

Property type

Retail properties

Property subtype

Retail space

APN

5-1511-10100

APU

5151110100

Description

This exceptional storefront property at 56 Groce Road, Lyman, SC 29365, presents a unique investment opportunity in the heart of downtown. The building, constructed in 1928, boasts a total of 4,212 square feet spread across two stories. The main level offers 2,106 square feet of finished space, ideal for immediate occupancy. An additional 2,106 square feet of unfinished space resides on the second floor, presenting significant potential for conversion into a modern loft-style space, capitalizing on the growing demand for unique downtown living spaces. Adding to the property's versatility is a 526-square-foot basement area. Convenient street parking is available, supplemented by additional parking at the rear entrance. The property is zoned CBD, allowing for a variety of commercial uses. Its location near the First Baptist Church in downtown Lyman ensures high visibility and foot traffic. The building's history as the former Claytons Barbershop adds to its character and charm. This property is priced at $378,000 and offers a compelling blend of historic charm and modern potential. Don't miss this chance to acquire a significant piece of Lyman's downtown landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $597,900

  6.5%

  $551,907

  7%

  $512,485

• Comparable approach

  Method

  Valuation

  Relative Method

  $436,935

  Geo Method

  $436,935

• Alternative Use

  Use

  Valuation

  Residential

  $465,554

  Hospitality

  $426,445

  Educational

  $354,798

  Medical

  $367,000

  Retail

  $551,907

Location Insight

City

Lyman

County

Spartanburg

State

South Carolina

Latitude

34.9501

Longitude

-82.1231

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].