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

    598 Dixie Drive Newberry, SC 29108

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $93,500

    Four acres of vacant, level land available for sale.

    Type:Lots/Land / Acreage
    Lot size:
    4.00 Acres
    Added:
    Dec 11, 2024
    Days on Market:
    494
    Last Refresh:
    Mar 13 at 12:49 pm

    Property Features for 598 Dixie Drive

    General Information

    Standard status
    Active
    Lot size
    4.00 Acres
    Property subtype
    Lots/Land / Acreage

    We can help!

    Listing Contact
    Johnie DeVore

    Listing agent Johnie DeVore

    Listing office Realty One Group Freedom

    Listing date Dec 11, 2024

    Source Compass

    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 Realty One Group Freedom

    Overview

    Vacant Land in Newberry

    This property features four vacant, level acres situated in the City of Newberry. It includes 325 feet of road frontage on Dixie Drive and 550 feet of frontage on Havird, which is a city dirt road easement. Sewer access is available. The offering includes the 2.6-acre parcel in the rear and adjacent parcels to the east.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Skin Care Clinic HVAC Service Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Newberry
    County
    Newberry
    State
    South Carolina
    Longitude
    -81.635888
    Latitude
    34.26251

    Nearby Similar for Sale

    • $550,000
      4,032 SF

      Downtown Newberry Retail Space Available

      Large retail space in historic downtown Newberry, South Carolina.
      1409 Main Street, Newberry, SC 29108
      View Details
    • $440,000
      2,320 SF

      Newberry Commercial Space with Loft

      Three-story commercial space with unfinished living area in downtown Newberry.
      1407 Main Street, Newberry, SC 29108
      View Details
    • $79,000

      Newberry Rural Property for Sale

      Spacious rural property near Newberry, SC, ideal for homesteading.
      0 Rocky Creek Road, Newberry, SC 29108
      View Details
    • $619,999

      Newberry Acreage with Pond

      31 acres with pond, ideal for homesite or recreation.
      2 Hwy 76, Newberry, SC 29108
      View Details
    • $22,500

      Residential Lot in Newberry, SC

      Residential lot with utilities available, near downtown Newberry, SC.
      460 Drayton Street, Newberry, SC 29108
      View Details
    • $18,999

      Residential Land Approved for Duplex

      Land approved for duplex construction in Newberry, South Carolina.
      630 Milligan Street, Newberry, SC 29108
      View Details
    • $27,000

      Downtown Newberry Land Opportunity

      Land for sale in historic downtown Newberry, South Carolina.
      1209 Graham Street, Newberry, SC 29108
      View Details
    • $435,000
      4,000 SF

      Downtown Newberry Commercial Building For Sale

      Corner commercial building in downtown Newberry, South Carolina with tenant income.
      1216 Main Street, Newberry, SC 29108,
      View Details
    • $99,000

      Prime Commercial Lot Near School

      1.031-acre commercial lot with high traffic and utilities.
      0 Main St/Hwy 219, Newberry, SC 29108
      View Details
    • $550,000
      4,032 SF

      Downtown Newberry Retail Space

      Spacious retail space in historic downtown Newberry.
      1409 Main St, Newberry, SC 29108
      View Details
    • $50,000
      1,170 SF

      Downtown Newberry Corner Commercial Building

      Prime commercial corner lot near shopping, dining, and historic amenities.
      1101 Nance Street, Newberry, SC 29108
      View Details
    • $440,000
      2,320 SF

      Main Street Commercial Space Available

      Three-story commercial space with unfinished living area in downtown Newberry.
      1407 Main street newb, Newberry, SC 29108
      View Details

    FAQs

    What type of property is this?
    Commercial land - Four acres of vacant, level land available for sale.
    Where is this commercial land located?
    The property is located at 598 Dixie Drive Newberry, SC.
    What is the asking price?
    The asking price for this property is $93,500.
    What are key features of this property?
    This property features: 4 vacant, level acres within city limits; Sewer access available; **325 feet of road frontage on Dixie Drive**
    (864) 412-4281
    We can help!
    Listing Contact
    Johnie DeVore
    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!