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116 Magnolia St
5,500 SF of Retail Space Available in Spartanburg, SC 29306
Highlights
- Located in the heart of Downtown Spartanburg
- Dining room, bar, kitchen, and 3 bathrooms on the main level
- Hardwood floors, high ceilings, painted interior design
- Front and rear access on Magnolia and Spring Streets
- Large banquet area with bar and 2 bathrooms on the second floor
- Sidewalk/patio dining available
Space Availability (1)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 5,500 SF | Negotiable | £13.41 /SF/PA £1.12 /SF/MO £144.38 /m²/PA £12.03 /m²/MO £73,771 /PA £6,148 /MO | Triple Net |
1st Floor
•LEASE RATE: $17.00/SF NNN •NNN Expense is $2.95/SF •Located in the heart of Downtown Spartanburg •Front and rear access on Magnolia and Spring Streets •Dining room, bar, kitchen, and 3 bathrooms on the main level •Large banquet area with bar and 2 bathrooms on the second floor •Hardwood floors, high ceilings, painted interior design •Sidewalk/patio dining available •Across from the Magnolia Street Parking Garage •Approx. $700 million in redevelopment and new development project occurring within a 1 mile radius of this location •Adjacent uses on the block include Myako’s Restaurant, Prudential, C. Dan Joyner, Spartanburg Children’s Museum, CCNB, WorkLounge, and various retail shops
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Space is in Excellent Condition
- Central Air and Heating
- Kitchen
- Private Restrooms
- High Ceilings
- After Hours HVAC Available
- Wooden Floors
- Display Window
- Located in the heart of Downtown Spartanburg
- Front and rear access on Magnolia and Spring Stre
- Dining room, bar, kitchen, and 3 bathrooms on the
- Large banquet area with bar on 2nd floor
- Hardwood floors, high ceilings, painted interior
- Sidewalk/patio dining available
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 116 Magnolia St , Spartanburg, SC 29306
| Property Type | Retail | Year Built | 1900 |
| Property Subtype | Restaurant | Parking Ratio | 0.13/1,000 SF |
| Gross Internal Area | 7,744 SF |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Internal Area | 7,744 SF |
| Year Built | 1900 |
| Parking Ratio | 0.13/1,000 SF |
About the Property
•LEASE RATE: $17.00/SF NNN •NNN Expense is $2.95/SF •Located in the heart of Downtown Spartanburg •Front and rear access on Magnolia and Spring Streets •Dining room, bar, kitchen, and 3 bathrooms on the main level •Large banquet area with bar and 2 bathrooms on the second floor •Hardwood floors, high ceilings, painted interior design •Sidewalk/patio dining available •Across from the Magnolia Street Parking Garage •Approx. $700 million in redevelopment and new development project occurring within a 1 mile radius of this location •Adjacent uses on the block include Myako’s Restaurant, Prudential, C. Dan Joyner, Spartanburg Children’s Museum, CCNB, WorkLounge, and various retail shops
- 24 Hour Access
- Restaurant
- Accent Lighting
Nearby Major Retailers
-
Stuart Smith -
John Stathakis, CCIM -
NAI Earle Furman LLC
Presented by
116 Magnolia St
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