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Exceptional Development Opportunity in Spartanburg County, South Carolina Don't miss this rare opportunity to acquire approximately 34. 9 acres of prime development land in one of Spartanburg County's fastest-growing industrial corridors. Historically utilized as horse pasture, this property presents a blank slate for investors, developers, and end users seeking a strategic location with significant future potential. Situated along SC Highway 290, the property is ideally positioned between two of the area's major industrial employers, Keurig Dr Pepper and Toray Composite Materials America, Inc. , and is only minutes from Tyger River Industrial Park. Its location places it at the center of a thriving industrial and commercial growth corridor while also offering potential for residential or mixed-use development, subject to applicable zoning and approvals. The tract features predominantly level topography with natural drainage along the boundaries, creating an attractive and potentially cost-effective site for development. Public utilities are readily accessible, including water, electricity, and natural gas at the road. Sewer infrastructure is located nearby and downhill from the property, providing additional advantages for future development. With more than 800 feet of frontage along SC Highway 290, the site offers outstanding visibility, accessibility, and exposure for a variety of potential uses. Having remained in the same family for generations, this property represents a unique opportunity to acquire a sizable tract in a highly desirable location where large parcels are becoming increasingly scarce. Prospective buyers should note that an existing gas transmission line crosses a portion of the property and should be carefully evaluated during the due diligence process. Additionally, no current survey is available; the acreage is based on deed records and original hand-drawn surveys indicating approximately 34. 9 acres. Whether your vision includes industrial expansion, commercial development, residential construction, or long-term investment, this property offers exceptional potential in one of South Carolina's most active growth markets. Opportunities to secure a highly visible, utility-served development tract with this level of accessibility, frontage, and upside potential are increasingly rare. Also includes parcel 5-39-00-017. 01
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$2,500,000
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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| Loan Amount | $2,000,000 | $2,000,000 | $2,000,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.000% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.300% | 6.110% | 6.097% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $11,831 | $11,991 | $16,742 |
| Total Monthly Payment | $11,956 | $12,116 | $16,867 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.