2 Groce RdLyman, SC 29365

Property Details for 2 Groce Rd

Year built

1956

Construction

CONCRETE BLOCKS

Lot size

0.82 AC

Property size (Sq ft)

352 SF

Property type

Office properties

Property subtype

Office buildings

APN

5-1507-09000

APU

5150709000

Description

This exceptional 1.9-acre commercial property presents a rare opportunity in the thriving Lyman, SC market. Situated at the last remaining prime intersection along Highway 29, this 1.09-acre corner lot at the intersection of Highway 29 and Groce Road benefits from an average daily traffic count of 37,500 vehicles. Its strategic location between Greer and downtown Spartanburg, coupled with Lyman's significant residential growth and proximity to Interstate 85, makes it an ideal site for a variety of businesses. The City of Lyman will donate a .27-acre right-of-way to the developer upon closing, further enhancing the property's value and development potential. This high-visibility location is perfect for businesses seeking maximum exposure, such as fast-food restaurants, oil change facilities, or dental offices. The property is priced competitively at $350,000, offering a compelling investment opportunity in a rapidly expanding area. Don't miss this chance to secure a prime commercial location in one of South Carolina's most dynamic markets. The property is zoned for general commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $67,982

  6.5%

  $62,753

  7%

  $58,270

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,980

  Geo Method

  $28,980

• Alternative Use

  Use

  Valuation

  Residential

  $77,813

  Hospitality

  $71,277

  Educational

  $59,301

  Medical

  $61,341

  Retail

  $92,247

Location Insight

City

Lyman

County

Spartanburg

State

South Carolina

Latitude

34.9551

Longitude

-82.1249

CBSA code

43900

CBSA name

SPARTANBURG, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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