Mixed-Use Property in Great
For Sale
$429,000
605 S Dargan St, Florence, SC 29506
Mixed-use property, previously commercial, next to medical staffing business.
Property Size3,764 SF
Lot Size0.47 Acres
Price / SF$113.97
Days on Market980
Property Features for 605 S Dargan St
General Information
Standard status
Active
Size
3,764 SF
Lot size
0.47 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,264
Building Details
Year Built
1930
Listing Agency:
Home Sales of Florence
(843) 621-4628
Listed By:
Bobbie Housand · License #3051045
(843) 621-4628
Source:
Exitrealty
Added: Dec 7, 2023
Changed: Aug 8
Last Checked: Aug 12 at 4:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Home Sales of Florence
Investment Insights
Based on property information with market context.
This mixed-use property is currently used as a residence by the owner, but the seller indicates it has a history of commercial use. The property is located next to a medical staffing business in a desirable location. The listed square footage of 3764 does not include the building located at the rear of the property.
Key Highlights
- Great Location!
- Previously used for commercial purposes.
- Located next door to a medical staffing business.
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
$27,948
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
6.51%
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%
$558,960
$559.0K
Cap Rate 7%
$399,257
$399.3K
Cap Rate 9%
$310,533
$310.5K
Market Conditions
NOI Build-Up for 3,764 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
$49.7K $13.20/SF
− Vacancy
−$5.0K −$1.32/SF
EGI
$44.7K $11.88/SF
− OpEx
−$16.8K −$4.46/SF
NOI
$27.9K $7.42/SF
Area
Florence County, SC
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$558,960
Cap Rate 7%
$399,257
Cap Rate 9%
$310,533
Alternative Uses
Best Use
Mixed Use
$399.3K
$349.4K – $465.8K
NOI $27,948 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$554.9K
$485.6K – $647.4K
NOI $38,844 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 29506, SC
19,967
Population
8,710
Households
2.3
Avg Household Size
37
Median Age
15%
College-Educated
80%
High-School Grad
120.8 sq mi
ZIP Area
165
Density / Sq Mi
$38,441
Median Household Income
$25,677
Median Earnings
$802
Median Rent
$114,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property, previously commercial, next to medical staffing business.
Where is this mixed-use property located?
The property is located at 605 S Dargan St Florence, SC.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Great Location!; Previously used for commercial purposes.; Located next door to a medical staffing business.
