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    2737 Cleveland Street Elloree, SC 29047

    View on Map
    Pending
    $625,000

    COMMERCIAL - Elloree, SC

    Property size:
    9,044 SF
    Lot size:
    0.24 Acres
    Added:
    Mar 3, 2025
    Days on Market:
    394
    Last Refresh:
    Apr 1 at 2:06 am

    Property Features for 2737 Cleveland Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    02821209002000
    Size
    9,044 SF
    Lot size
    0.24 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Hardwood
    Building materials
    Brick

    We can help!

    Listing Contact
    Kristie Anderson
    Kristie Anderson

    Listing agent Kristie Anderson

    Listing office Lake Homes Realty Elloree 2732 Cleveland St., Elloree, SC

    Listing date Mar 3, 2025

    MLS# 169012

    Copyright © 2026 Sumter Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income-Generating Mixed-Use Property

    Located in the heart of historic Elloree, South Carolina, this mixed-use property at 2737 Cleveland St presents a rare investment opportunity. The property features nine income-generating units, offering diverse revenue streams. These include two commercial spaces suitable for boutiques, offices, cafes, or studios, one storage unit, and one short-term rental unit catering to visitors of nearby Lake Marion. Additionally, the property includes three 2-bedroom units and two 1-bedroom units, ideal for long-term tenants or workforce housing. The town of Elloree is experiencing a revival, attracting visitors and new residents with its walkable streets and revitalized downtown. The property's location near Lake Marion ensures continuous tourism, driven by anglers, golfers, boaters, and nature lovers. This property offers flexibility and stability in a growing community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elloree
    County
    Orangeburg
    State
    South Carolina
    Longitude
    -80.5736793
    Latitude
    33.5295616

    Nearby Similar for Sale

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      Historic Mixed-Use Building in Elloree

      Prime investment opportunity in growing Elloree near Lake Marion.
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      View Details
    • $900,000

      Entitled RV Park Land

      10+ acre entitled RV park near lakes and Santee State Park.
      Tee Vee Road, Elloree, SC 29047
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    • $475,000
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      Downtown Elloree Mixed-Use Property

      Commercial/Residential property with retail space and rental income potential.
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    • $145,000
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      Downtown Elloree Retail Building

      Over 6,000 sqft retail building in downtown Elloree.
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    FAQs

    What type of property is this?
    Mixed-use property - Rare investment opportunity with nine income streams in Elloree, SC.
    Where is this mixed-use property located?
    The property is located at 2737 Cleveland Street Elloree, SC.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Nine income‑generating units provide diversified revenue streams.; Prime location in Elloree, a rapidly growing small town.; Includes two commercial spaces suitable for various businesses.
    (803) 387-9459
    We can help!
    Listing Contact
    Kristie Anderson
    Kristie Anderson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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