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860 W Main St 4,224 SF 100% Leased Flex Building Spartanburg, SC 29301 $1,007,652 CAD ($238.55 CAD/SF) 11.85% Cap Rate
Investment Highlights
- Fully leased 4,224 SF flex building offering a strong 10.68% cap rate and stable annual NOI of $64,000–$67,000.
- Features 5 bays with roll-up doors, 7 dock-high loading areas, 2 offices, and 3 restrooms, providing versatile space for various businesses.
- Prime location in Spartanburg’s high-traffic industrial area, just minutes from downtown, shopping, and hotels.
- Recent upgrades include a brand-new roof and a fenced 1-acre lot, ensuring security and privacy for tenants and owners.
Executive Summary
Turnkey income-producing property - five fully leased garage bays plus 10 paved parking spaces, generating $7,000 per month in gross rental income.
Strong cap rate of approximately 11.7% on the asking price, well above typical small-bay industrial returns.
Sale includes both the real estate and the established rental operation - tenants, leases, and income transfer with the property.
Each of the five bays is identical in size (15' x 40') with its own private drive-in roll-up door, allowing flexible leasing to separate tenants.
1.5-acre lot provides ample paved parking, room for outdoor storage, and potential for future expansion.
Located on W Main St in Spartanburg, SC - a growing Upstate South Carolina market with strong demand for small-bay industrial and flex space.
One bay is scheduled to come available within three weeks, giving a new owner immediate flexibility to reset that unit at current market rent or occupy it for owner-use. 1 acre price is 709.000$
Strong cap rate of approximately 11.7% on the asking price, well above typical small-bay industrial returns.
Sale includes both the real estate and the established rental operation - tenants, leases, and income transfer with the property.
Each of the five bays is identical in size (15' x 40') with its own private drive-in roll-up door, allowing flexible leasing to separate tenants.
1.5-acre lot provides ample paved parking, room for outdoor storage, and potential for future expansion.
Located on W Main St in Spartanburg, SC - a growing Upstate South Carolina market with strong demand for small-bay industrial and flex space.
One bay is scheduled to come available within three weeks, giving a new owner immediate flexibility to reset that unit at current market rent or occupy it for owner-use. 1 acre price is 709.000$
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$104,034
|
$24.63
|
| Other Income |
$11,512
|
$2.73
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$115,546
|
$27.35
|
| Taxes |
$8,361
|
$1.98
|
| Operating Expenses |
$12,379
|
$2.93
|
| Total Expenses |
$20,740
|
$4.91
|
| Net Operating Income |
$94,806
|
$22.44
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $104,034 |
| Annual Per SF | $24.63 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,512 |
| Annual Per SF | $2.73 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $115,546 |
| Annual Per SF | $27.35 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,361 |
| Annual Per SF | $1.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $12,379 |
| Annual Per SF | $2.93 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $20,740 |
| Annual Per SF | $4.91 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $94,806 |
| Annual Per SF | $22.44 |
Property Facts
Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Front Loading
- Security System
- Storage Space
- Smoke Detector
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 7-11-16-008.00 | Total Assessment | $17,055 CAD (2025) |
| Land Assessment | $7,299 CAD (2025) | Annual Taxes | $8,361 CAD ($1.98 CAD/SF) |
| Improvements Assessment | $9,755 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
7-11-16-008.00
Land Assessment
$7,299 CAD (2025)
Improvements Assessment
$9,755 CAD (2025)
Total Assessment
$17,055 CAD (2025)
Annual Taxes
$8,361 CAD ($1.98 CAD/SF)
Tax Year
2024
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GSP Rental LLC
860 W Main St
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