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207 Cedar Springs Rd

3,500 SF Retail Building Spartanburg, SC 29302 $2,000,000 ($571/SF) 11.50% Cap Rate

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Investment Highlights

Spartanburg's Premier Upscale Liquor and Party Supply Non Franchise Businesses with Real Estate
Turn-Key Prominent Location with Well Established Solid Loyal Customer Base
Spartanburg's Highest Rated Liquor Store

2022 Gross Revenue $2,180,051 with NOI of $230,000 plus 10% Plus Cap Rate
Impressive Collection of High Margin Very Rare to Find Spirits and Cigar Collections
3500 Sq Ft Concrete Building with 1.24 Acres of Land with 40 Plus Paved Parking for Future Development

Executive Summary

* Location ! Location ! Location * High Visibility Corner with Excellent Signage * Lucrative Investment in Flourishing Spirit Market
* Spartanburg's Premier Upscale Liquor and connected Party Store Non Franchise Businesses with Real Estate
* Area is Fast Growing with Lots of New Apartments and Condos Going Up Large Growth in Population
* Turn-Key prominent location with very well established solid loyal customer base
* 3500 Sq Ft Building with 1.24 Acres of Land with Lots of Paved Parking for future development and Easy to Get in and Out Access
* Impressive Collection of High Margin Very Rare Hard to Find Spirits and Cigars Specialize Inventory
* New Security System , Cameras , Walk In Cooler , Beer Cave, Wall Shelving Gondolas, Displays Fancy Vine Wine Racks Included
* Estimated $1,000,000 Inventory NOT INCLUDED

Financial Summary (Actual - 2022)	Annual	Annual Per SF
Gross Rental Income	$2,180,051	$622.87
Other Income	$29,930	$8.55
Vacancy Loss	-	-
Effective Gross Income	$2,209,981	$631.42
Taxes	$18,058	$5.16
Operating Expenses	$1,961,923	$560.55
Total Expenses	$1,979,981	$565.71
Net Operating Income	$230,000	$65.71

Financial Summary (Actual - 2022)

Gross Rental Income
Annual	$2,180,051
Annual Per SF	$622.87

Other Income
Annual	$29,930
Annual Per SF	$8.55

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$2,209,981
Annual Per SF	$631.42

Taxes
Annual	$18,058
Annual Per SF	$5.16

Operating Expenses
Annual	$1,961,923
Annual Per SF	$560.55

Total Expenses
Annual	$1,979,981
Annual Per SF	$565.71

Net Operating Income
Annual	$230,000
Annual Per SF	$65.71

Property Facts

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Freestanding

Building Size

3,500 SF

Building Class

Year Built

1987

Price

$2,000,000

Price Per SF

$571

Cap Rate

11.50%

NOI

$230,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.06

Lot Size

1.24 AC

Zoning

6RGC - 6RGC

Parking

40 Spaces (10 Spaces per 1,000 SF Leased)

Frontage

82 FT on Cedar Springs Rd

Amenities

Pylon Sign

Signage

PROPERTY TAXES

Parcel Number	7-21-03-001.00	Total Assessment	$19,314 (2023)
Land Assessment	$12,600 (2023)	Annual Taxes	$18,058 ($5.16/SF)
Improvements Assessment	$6,714 (2023)	Tax Year	2022