Freestanding Office
For Sale
$225,000
2228 W Palmetto St., Florence, SC 29501
COMMERCIAL - Florence, SC
Property Size1,405 SF
Lot Size0.31 Acres
Price / SF$160.14
Days on Market59
Property Features for 2228 W Palmetto St.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
FLORENCE
Standard status
Active
Size
1,405 SF
Lot size
0.31 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Flooring type
Wood
Building materials
Wood Frame
Listing Agency:
C/B McMillan and Assoc. · Coldwell Banker Real Estate
(843) 667-1100
Listed By:
Ross McMillan · License #SC140676
(843) 601-7710
Added: Jun 3
Changed: Jul 21
Last Checked: Jul 30 at 11:06PM
MLS# 2601742
Copyright © 2026 Pee Dee Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale commercial office property is positioned along W Palmetto St and sits on a 0.31-acre lot. The building provides approximately 1,405 square feet of space, with parking area described as ample for day-to-day operations and potential future needs.
Public remarks indicate strong visibility and accessibility in an active Florence corridor with convenient access to major roadways. The property is described as a versatile option for owner-users and investors, with suitability noted for uses such as a tax office, professional services, or small business operations.
As presented, the offering combines an office-focused layout with lot space intended to support parking and possible expansion, depending on the buyer’s plans.
Public remarks indicate strong visibility and accessibility in an active Florence corridor with convenient access to major roadways. The property is described as a versatile option for owner-users and investors, with suitability noted for uses such as a tax office, professional services, or small business operations.
As presented, the offering combines an office-focused layout with lot space intended to support parking and possible expansion, depending on the buyer’s plans.
Key Highlights
- Commercial property located along high‑traffic W Palmetto St in Florence
- Wood frame construction with wood flooring
- Central air and heat pump heating
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.7k | $12.60 |
| − Vacancy | −$2.9k | −$2.08 |
| EGI | $14.8k | $10.52 |
| − OpEx | −$3.7k | −$2.63 |
| NOI | $11.1k | $7.89 |
1,405 SF · lease $12.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$158.4K
$138.6K – $184.8K
NOI $11,087 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.1K
$181.3K – $241.7K
NOI $14,500 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 29501, SC
46,528
Population
20,713
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
93%
High-School Grad
52.4 sq mi
ZIP Area
888
Density / Sq Mi
$70,618
Median Household Income
$46,246
Median Earnings
$995
Median Rent
$220,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property on a lot with parking along W Palmetto St, offering visibility and convenient roadway access.
Where is this office building located?
The property is located at 2228 W Palmetto St. Florence, SC.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Commercial property located along high‑traffic W Palmetto St in Florence; Wood frame construction with wood flooring; Central air and heat pump heating
