Medical Office with Dental
New
For Sale
Under Contract
$290,000
417 W Cheves St, Florence, SC 29501
COMMERCIAL/INDUSTRIAL, Florence, SC
Property Size1,846 SF
Lot Size0.20 Acres
Price / SF$157.10
Days on Market1
Property Features for 417 W Cheves St
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Central Business Area
Subdivision
FLORENCE
Standard status
Active Under Contract
Size
1,846 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3466
Utilities
Heating system
Electric (Heating), Ceiling
Cooling system
Central Air
Building Details
Year built
1979
Flooring type
Carpet, Tile, Tile - Ceramic
Building materials
Brick and Block
Listing Agency:
Griggs, Floyd, and Grantham In
(843) 667-0041
Listed By:
Fran Hawley · License #57159
(843) 687-0102
Added: Sep 11
Last Checked: Sep 11 at 4:06PM
MLS# 2603698
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 1,846-square-foot medical office presents a dental-oriented configuration with a lobby or waiting area, reception station, breakroom, two half baths, four operatories, and a digital X-ray room. Three operatories are furnished, while the fourth is plumbed for expansion. Carpet and ceramic tile flooring, electric ceiling heat, and central air serve the interior.
Custom-built in 1979, the property uses brick-and-block construction and occupies 0.2 acres. It is located at 417 W Cheves St in the downtown area of Florence, providing an established professional-office setting for a medical or dental use.
Custom-built in 1979, the property uses brick-and-block construction and occupies 0.2 acres. It is located at 417 W Cheves St in the downtown area of Florence, providing an established professional-office setting for a medical or dental use.
Key Highlights
- 1,846‑square‑foot medical office on a 0.2‑acre parcel
- Four operatories: three furnished and one plumbed for expansion
- Digital X‑ray room plus reception and waiting areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,269
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,380
$345.4K
Cap Rate 7%
$246,700
$246.7K
Cap Rate 9%
$191,878
$191.9K
Market Conditions
NOI Build-Up for 1,846 SF
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.
Gross rent
$31.5K $17.04/SF
− Vacancy
−$2.7K −$1.45/SF
EGI
$28.8K $15.59/SF
− OpEx
−$11.5K −$6.24/SF
NOI
$17.3K $9.35/SF
Area
Florence County, SC
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,380
Cap Rate 7%
$246,700
Cap Rate 9%
$191,878
Alternative Uses
Best Use
Healthcare Medical
$246.7K
$215.9K – $287.8K
NOI $17,269 @ 7.0% cap · market cap 5.95%
Second Best
Office B
$208.1K
$182.1K – $242.8K
NOI $14,566 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,645
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hewitt Animal Hospital — Florence, SC 29506
- Main Street Veterinary Care — 901 w evans st, florence, sc 29501
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built layout includes patient reception, four operatories, imaging space, staff breakroom, and two half baths.
Where is this medical office space located?
The property is located at 417 W Cheves St Florence, SC.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,846‑square‑foot medical office on a 0.2‑acre parcel; Four operatories: three furnished and one plumbed for expansion; Digital X‑ray room plus reception and waiting areas
