Value-Add Former QSR | Prime Highway Frontage 100 Simuel Rd
3,864 SF Vacant Retail Building Online Auction Sale Spartanburg, SC 29303
Place your bid!
INVESTMENT HIGHLIGHTS
- Freestanding ±3,864-SF quick-service restaurant with ample parking and exceptional visibility along I-85 Business in Spartanburg.
- Well-established vacant retail asset situated over ±0.67 of unzoned acreage primed for an owner/user or investor seeking to add value or repurpose.
- Favorably centralized by a steadily growing community of over 106,000 residents who spend about $680 million annually on food at and away from home.
- Strategically located across from McDonald’s within a heavily trafficked corridor with both building and pylon signage ability in front of 30,663 VPD.
- Excellently positioned within walking distance of popular eateries and hotels Chick-fil-A, Subway, Burger King, Holiday Inn, Sonesta Select, and more.
EXECUTIVE SUMMARY
Significantly situated ±3,864-square-foot quick service restaurant with ±650 feet of premier frontage along major thoroughfare Interstate 85 Business in Spartanburg, South Carolina. 100 Simuel Road boasts a freestanding retail building equipped with ample surface parking over a ±0.67-acre lot. Built in 1975, the single-story brick building features excellent building and pylon signage opportunities front and center to over 30,600 vehicles per day. This vacant asset is primed for dynamic opportunities for a new owner to discover either through renovations and lease-up to a fast-food business or as a renovation to explore new ventures in the heart of one of Spartanburg’s primary corridors.
100 Simuel Road’s strategic positioning directly off the Hearon Circle diagonal to McDonald’s places the property with optimal visibility in a heavily trafficked retail hub. Prominent demand drivers centralize the asset within a quick eight-minute or less walking distance comprising Chick-fil-A, Subway, Burger King, Taco Bell, KFC, Arby’s, Zaxbys, Waffle House, Metro by T-Mobile, Holiday Inn, Sonesta Select, Best Western, and HomeTowne Studios. Looking into the surrounding neighborhoods, 100 Simuel Road also benefits from its growing community seeing 1.9% annual growth from 2020-2024 with an anticipated projection of an additional 2.7% from 2024-2029 within a 5-mile radius. This encompassing population of more than 106,000 people is supported by an average household income of $65,648 and an impressive annual spending power of approximately $1.1 billion. This considerable community expenditure has a great emphasis of food at and away from home at about $680 million of the total spending.
100 Simuel Road poses an excellently located multifaceted acquisition for either an owner/user or investor seeking to add value through lease-up at increasing market rents or complete asset revitalization. The flexible asset is on unzoned acreage providing limitless possibilities with sought-after accessibility six minutes from the Interstates 85 and 26 interchange.
Property tours are available by appointment only. Please contact the broker to schedule.
100 Simuel Road’s strategic positioning directly off the Hearon Circle diagonal to McDonald’s places the property with optimal visibility in a heavily trafficked retail hub. Prominent demand drivers centralize the asset within a quick eight-minute or less walking distance comprising Chick-fil-A, Subway, Burger King, Taco Bell, KFC, Arby’s, Zaxbys, Waffle House, Metro by T-Mobile, Holiday Inn, Sonesta Select, Best Western, and HomeTowne Studios. Looking into the surrounding neighborhoods, 100 Simuel Road also benefits from its growing community seeing 1.9% annual growth from 2020-2024 with an anticipated projection of an additional 2.7% from 2024-2029 within a 5-mile radius. This encompassing population of more than 106,000 people is supported by an average household income of $65,648 and an impressive annual spending power of approximately $1.1 billion. This considerable community expenditure has a great emphasis of food at and away from home at about $680 million of the total spending.
100 Simuel Road poses an excellently located multifaceted acquisition for either an owner/user or investor seeking to add value through lease-up at increasing market rents or complete asset revitalization. The flexible asset is on unzoned acreage providing limitless possibilities with sought-after accessibility six minutes from the Interstates 85 and 26 interchange.
Property tours are available by appointment only. Please contact the broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Property Information
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
12 Month Sales Volume
Total
Lowest
Highest
Transactions
999
-
-
Sales Volume
$99,999
$99,999
$99,999
Properties Sold
999
-
-
Transacted SF
999
999
999
Average SF
999
999
999
9.9%
Market Cap Rate
9.9%
Market Sale Price/SF Change (YOY)
12 Month Sales Price
Average
Lowest
Highest
Market
Cap Rate
9.9%
9.9%
9.9%
9.9%
Sale Price/SF
$99,999
$99,999
$99,999
$99,999
Sale Price
$99,999
$99,999
-
-
Sale vs Asking Price
-9.9%
-9.9%
-9.9%
-
% Leased at Sale
9.9%
9.9%
9.9%
-
Market Sale Price per SF
Spartanburg - SC USA
Market Cap Rate
Spartanburg - SC USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,864 SF
Building Class
C
Year Built
1975
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.67 AC
Zoning
None
Parking
60 Spaces (15.53 Spaces per 1,000 SF Leased)
Frontage
656’ on I-85 Business
AMENITIES
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
| Space | Size | Space Use | Position | Available |
| 1st Floor | 3,864 SF | Retail | - | Now |
1st Floor
| Size |
| 3,864 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
4,790
43,391
106,065
2020 Population
4,582
40,111
98,532
2029 Population
5,403
49,151
120,223
2024-2029 Projected Population Growth
12.8%
13.3%
13.4%
Daytime Employees
5,812
33,588
74,737
Total Businesses
349
2,877
7,446
Average Household Income
$39,540
$54,685
$65,648
Median Household Income
$28,934
$42,259
$48,727
Total Consumer Spending
$29.6M
$364.2M
$1.1B
Median Age
29.8
33.4
35.2
2024 Households
1,531
15,735
41,330
Percent College Degree or Above
4%
9%
13%
Average Home Value
$98,521
$161,784
$202,713
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6-13-02-009.00 | Improvements Assessment | $39,875 |
| Land Assessment | $11,704 | Total Assessment | $51,579 |
SALE ADVISOR
SALE ADVISOR
Matthew Roos, Associate
(864) 704-1040
Contact
Matt joins Lee & Associates Greenville/Spartanburg following a senior leadership role with the 2021 ACCE National Chamber of the Year, OneSpartanburg, Inc. As Vice President of Investor Relations, he served during a transformational time, helping to build a consolidated model for business, economic, and tourism development. The model is unique to South Carolina and when considering the breadth and impact, it is unique nationwide. Matt engaged with over 1,200 corporate, nonprofit, and government partners and drove record breaking revenue generation toward the critical work. The experience deepened his relationships, perspective, and understanding of complex market factors that consistently place Spartanburg County atop regional and national economic development and quality of life metrics.
Prior to OneSpartanburg, Inc., Matt lead outreach metrics for a team that successfully completed a historic $300 million comprehensive campaign for Wofford College (with gifts and pledges totaling more than $470 million) one year ahead of schedule. He was consistently tapped to engage with and lead internal committees, including chairing the staff advisory council, and was acknowledged for his ability to build bridges and find consensus.
Matt is pleased to join a team with perennial top producer and CoStar Power Broker, Adam Padgett, SIOR. Matt brings an uncommon level of dedication to clients and a focus on creative and win-win outcomes. His relationships within the industrial, corporate, and government sectors position Lee & Associates well to build upon a sound foundation of client-centric solutions.
In his free time, Matt and his family enjoy rooting for the Wofford Terriers and the many outdoor assets and activities that the Upstate has to offer. He enjoys mountain biking, playing just about any sport, and can even be found playing ping pong around town. An avid traveler, Matt had been to 26 countries before his 21st birthday.
Prior to OneSpartanburg, Inc., Matt lead outreach metrics for a team that successfully completed a historic $300 million comprehensive campaign for Wofford College (with gifts and pledges totaling more than $470 million) one year ahead of schedule. He was consistently tapped to engage with and lead internal committees, including chairing the staff advisory council, and was acknowledged for his ability to build bridges and find consensus.
Matt is pleased to join a team with perennial top producer and CoStar Power Broker, Adam Padgett, SIOR. Matt brings an uncommon level of dedication to clients and a focus on creative and win-win outcomes. His relationships within the industrial, corporate, and government sectors position Lee & Associates well to build upon a sound foundation of client-centric solutions.
In his free time, Matt and his family enjoy rooting for the Wofford Terriers and the many outdoor assets and activities that the Upstate has to offer. He enjoys mountain biking, playing just about any sport, and can even be found playing ping pong around town. An avid traveler, Matt had been to 26 countries before his 21st birthday.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Casey Harrell
Contact
Auctioneer License:
Ten-X Samantha Kristine Corbat RE Brkr 21233. Ten-X Auction Firm 4085. Arlene Richardson Auctioneer 4820
