Historic Downtown Office
For Sale
$2,700,000
248-260 W Evans st., Florence, SC 29501
COMMERCIAL - Florence, SC
Property Size16,304 SF
Lot Size1.47 Acres
Price / SF$165.60
Days on Market140
Property Features for 248-260 W Evans st.
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Office Center
Subdivision
FLORENCE
Standard status
Active
Size
16,304 SF
Lot size
1.47 Acres
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1939
Listing Agency:
C/B McMillan and Assoc. · Coldwell Banker Real Estate
(843) 667-1100
Listed By:
William McMillan · License #19719
(843) 601-7710
Added: Mar 14
Changed: Jul 28
Last Checked: Jul 30 at 11:06PM
MLS# 2600905
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 historic office building totals 16,304 square feet and is currently configured to support multiple professional uses. A law firm occupies 13,759 square feet with 23 offices, seven bathrooms, eight boardrooms and meeting spaces, plus a kitchen area, library, and a designated reception and waiting area. Additional space is occupied by H&R Block (1,977 square feet) and a Smith Hair Studio (568 square feet), providing a flexible interior mix for office and service tenants.
Set on 1.47 acres in the heart of downtown Florence, the property offers more parking than is typical for a downtown setting, with over 100 parking spaces available. The building’s setting and current tenant mix can support users looking for a central location with established improvements.
For buyers, this is a single property investment with an existing, income-producing tenant mix across office and personal service uses, while still offering the option to reconfigure suites depending on the next operator’s needs. For tenants, the building’s defined reception, multiple offices, and meeting space components can fit professional office operations, and the on-site parking supports day-to-day customer and employee access.
Set on 1.47 acres in the heart of downtown Florence, the property offers more parking than is typical for a downtown setting, with over 100 parking spaces available. The building’s setting and current tenant mix can support users looking for a central location with established improvements.
For buyers, this is a single property investment with an existing, income-producing tenant mix across office and personal service uses, while still offering the option to reconfigure suites depending on the next operator’s needs. For tenants, the building’s defined reception, multiple offices, and meeting space components can fit professional office operations, and the on-site parking supports day-to-day customer and employee access.
Key Highlights
- 16,000 SF historic building built in 1939 in Downtown Florence
- Multiple tenants: law firm (13,759 SF), H&R Block (1,977 SF), and Smith Hair Studio (568 SF)
- Law firm space includes 23 offices, 7 bathrooms, 8 boardrooms/meeting spaces, kitchen, library, and reception/waiting area
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 | $205.4k | $12.60 |
| − Vacancy | −$33.9k | −$2.08 |
| EGI | $171.5k | $10.52 |
| − OpEx | −$42.9k | −$2.63 |
| NOI | $128.7k | $7.89 |
16,304 SF · lease $12.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.14M
NOI $128,651 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,257 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
890
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 - Historic office building with multiple suites and ample on-site parking in downtown Florence.
Where is this office building located?
The property is located at 248-260 W Evans st. Florence, SC.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 16,000 SF historic building built in 1939 in Downtown Florence; Multiple tenants: law firm (13,759 SF), H&R Block (1,977 SF), and Smith Hair Studio (568 SF); Law firm space includes 23 offices, 7 bathrooms, 8 boardrooms/meeting spaces, kitchen, library, and reception/waiting area
