Parcel 7-12-14-355.02, outline Outline of the parcel at 325 South Church Street (2.49 acres), north up, drawn from City of Spartanburg GIS geometry. Building footprints are not shown.
325 South ChurchSpartanburg, South Carolina

Tools · Developer underwriter

Would a developer's rent on this campus fit a charter school's budget?

A charter-facility developer buys and converts a building, then charges rent as a share of the project's cost. A school keeps that rent within 12-15% of its revenue at full enrollment, and under 18% while it grows.

Conversion
Owner and occupant
Project cost
$4,840,000
Annual rent
$484,000
Share of school revenue
11.9%
below the 12-15% target
Students needed
238 for 15%, 198 for 18%

Formula: project cost = price + conversion; rent = project cost × rent rate; share of revenue = (rent + property tax) ÷ (students × revenue per student). Results illustrate your assumptions; they are not an appraisal or a lease offer. The reasoning behind every default is in the charter school campus case.

Sources

  1. 325 S Church Street / 101 Deborah Dr, LoopNet listing 42390275. LoopNet. On market 29 September 2026. Accessed 6 October 2026.
  2. Charter school developer survey findings. Local Initiatives Support Corporation (LISC). Accessed 7 October 2026.
  3. Entrepreneur High School charter application (as posted by the authorizer). Charter Institute at Erskine. PDF of 23 June 2026. Accessed 7 October 2026.
  4. American Classical Academy - Spartanburg charter application (as posted by the authorizer). Charter Institute at Erskine. Submitted 30 January 2026. Accessed 7 October 2026.
  5. Joint Bond Review Committee agenda, 3 June 2025 (state HVAC and fire-alarm projects). South Carolina Legislature. 3 June 2025. Accessed 7 October 2026.
  6. Charter school will open in former office building in Spartanburg, South Carolina. American School & University. Accessed 7 October 2026.
  7. S.C. Code Title 59, Chapter 40 (charter schools: §59-40-70 application and opening; §59-40-140 funding and tax exemption). South Carolina Legislature. Accessed 7 October 2026.
  8. Hock RH LLC v. South Carolina Department of Revenue (S.C. Ct. App. 2018). South Carolina Court of Appeals. Accessed 7 October 2026.
  9. Tax Estimator for parcel 7-12-14-355.02 (district 7SSZ millage). Spartanburg County (qPublic). 2025 levy. Accessed 7 October 2026.