Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    0 Dreher Island Road Chapin, SC 29036

    View on Map
    Claim this Listing
    For Sale
    $4,900,000

    Residential - Chapin, SC

    Lot size:
    16.49 Acres
    Added:
    Jun 12, 2024
    Days on Market:
    688
    Last Refresh:
    Apr 30 at 5:06 pm

    Property Features for 0 Dreher Island Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Lakefront Improved
    Standard status
    Active
    APN
    000900-02-001
    Lot size
    16.49 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    W Rhett Kelly

    Listing agent W Rhett Kelly

    Listing office Southern Visions Realty I LLC PO Box 729, Lexington, SC

    Listing date Jun 12, 2024

    MLS# 587193 Listing URL

    Copyright © 2026 Consolidated MLS, SC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Chapin Residential Development Opportunity

    This +/- 16.49 acre property is located in Chapin, South Carolina. The property has frontage on both Lake Murray and Dreher Island Road. The tract is fully entitled and permitted, making it ready for development. The property features 7 lakefront lots, 8 interior lots and 25 townhome lots, offering the potential for residential development. It has +/- 1,800 ft of frontage along Dreher Island Road and +/- 750 ft of water frontage on Lake Murray. The location benefits from 4,100 vehicles per day on Dreher Island Road. The property is situated in a rapidly growing community known for its schools, recreational opportunities, and proximity to Lake Murray.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Chapin
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.404168
    Latitude
    34.1756021

    Nearby Similar for Sale

    • $1,395,000
      2,200 SF

      Lake Murray Marina Opportunity

      Marina with restaurant, tiki hut, and boat slips for sale.
      1701 Dreher Island Road, Chapin, SC 29036
      View Details
    • $1,000,000

      Commercial Lot in Chapin, SC

      Commercial lot ideal for restaurant, retail, or new development.
      0 Woodthrush, Chapin, SC 29036
      View Details
    • $952,000

      34 Acres in Chapin, SC

      34-acre tract with pond, road frontage, and sewer access.
      0501 Crooked Creek Road, Chapin, SC 29036
      View Details
    • $699,999
      1,113 SF

      Chapin Commercial Land For Sale

      2-acre commercial land near I-26 with development potential.
      534 Columbia Avenue, Chapin, SC 29036
      View Details
    • $89,900

      Corner Lot in Timberlake Estates

      Beautiful corner lot to build your dream home!
      255 Lake Estates, Chapin, SC 29036
      View Details
    • $96,900

      Golf Course Homesite in Chapin

      Wooded lot with golf course and pond views.
      108 Oak Trace Court, Chapin, SC 29036
      View Details
    • $599,000

      Chapin Residential Land with Well

      15.9 acres near Spring Hill High School in Chapin.
      1160 Bookie Richardson Road, Chapin, SC 29036
      View Details
    • $379,900

      Chapin Acreage on Broad River

      6+ acre parcel ideal for commercial or residential development.
      11437 Broad River, Chapin, SC 29036
      View Details
    • $125,000

      Bay Pointe Golf Course Lot

      0.28-acre lot in Chapin's Timberlake Golf Club.
      104 Bay Pointe Drive, Chapin, SC 29036
      View Details
    • $1,490,000

      26.2 Acres Near Lake Murray

      26.2 acres near Lake Murray in Lexington County, SC.
      Limestone Road, Chapin, SC 29036
      View Details
    • $490,000

      Waterfront Lot in Whitewater Landing

      Beautiful waterfront lot with dock permit in Chapin, South Carolina.
      934 SALISBURY Court, Chapin, SC 29036
      View Details
    • $175,000

      Lake Murray Front Community Lot

      0.62 acre lot in established lakeside neighborhood.
      111 Smiths Ford Road, Chapin, SC 29036
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 16.49 acre property with lake frontage in Chapin, SC.
    Where is this residential land & home lot located?
    The property is located at 0 Dreher Island Road Chapin, SC.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: Fully entitled and permitted +/- 16.49 acre property ready for development.; Prime location in Chapin, SC with frontage on both Lake Murray and Dreher Island Road.; Includes 7 premium lakefront lots, 8 spacious interior lots, and 25 townhome lots.
    (803) 359-9571
    We can help!
    Listing Contact
    W Rhett Kelly
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!