Recreation Land with Stocked
For Sale
$1,149,000
1315 Hill Harrell Road, Effingham, SC 29541
Land, Effingham, SC
Property Size6,000 SF
Lot Size158.59 Acres
Price / SF$191.50
Days on Market88
Property Features for 1315 Hill Harrell Road
General Information
Property type
Land
Property subtype
Other
Elementary school
SAVANNAH GROVE
Middle school
SOUTHSIDE
High school
SOUTH FLORENCE
Subdivision
FLORENCE
Standard status
Active
Lot size
158.59 Acres
Listing Agency:
C/B McMillan and Assoc. · Coldwell Banker Real Estate
(843) 667-1100
Listed By:
Dottie O'Neal · License #16913
(843) 601-7710
Added: Jun 3
Changed: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 20241317
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.
Recreation land totaling 158.59 acres in Effingham, SC, featuring approx. 20 cleared acres with pathways leading through the property’s wildlife habitat. An approx. 1-acre stocked pond includes brim and bass and is served by a concrete dock.
Improvements also include a metal warehouse measuring 50 x 120 with a metal roof, set on a 6" concrete slab. The warehouse includes a 16 x 50 finished room at the rear and a 20 x 10.5 roll-up door at the front. A lean-to covered shelter is on the side, and there is a separate covered shelter apart from the warehouse. County water has been run to the warehouse, and power is provided by Duke Energy. No septic tanks have been installed.
The property offers a combination of outdoor recreation space and storage/workshop utility, with pond access and warehouse support for a range of event or private-use concepts.
Improvements also include a metal warehouse measuring 50 x 120 with a metal roof, set on a 6" concrete slab. The warehouse includes a 16 x 50 finished room at the rear and a 20 x 10.5 roll-up door at the front. A lean-to covered shelter is on the side, and there is a separate covered shelter apart from the warehouse. County water has been run to the warehouse, and power is provided by Duke Energy. No septic tanks have been installed.
The property offers a combination of outdoor recreation space and storage/workshop utility, with pond access and warehouse support for a range of event or private-use concepts.
Key Highlights
- 158.59‑acre recreation property in Effingham, SC
- Approx. 20 cleared acres with pathways and wildlife habitat
- Approx. 1‑acre stocked pond with brim and bass plus concrete dock
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
$38,149
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
3.32%
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%
$762,980
$763.0K
Cap Rate 7%
$544,986
$545.0K
Cap Rate 9%
$423,878
$423.9K
Market Conditions
NOI Build-Up for 6,000 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
$46.8K $7.80/SF
− Vacancy
−$1.9K −$0.32/SF
EGI
$44.9K $7.48/SF
− OpEx
−$6.7K −$1.12/SF
NOI
$38.1K $6.36/SF
Area
Florence County, SC
Vacancy
4.10%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$762,980
Cap Rate 7%
$544,986
Cap Rate 9%
$423,878
Alternative Uses
Best Use
Warehouse
$545.0K
$476.9K – $635.8K
NOI $38,149 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 29541, SC
9,357
Population
4,401
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
84%
High-School Grad
79.8 sq mi
ZIP Area
117
Density / Sq Mi
$53,390
Median Household Income
$39,048
Median Earnings
$963
Median Rent
$156,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Recreation land - Recreation land with a stocked pond, concrete dock, and on-site metal warehouse with county water and Duke Energy power.
Where is this recreation land located?
The property is located at 1315 Hill Harrell Road Effingham, SC.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 158.59‑acre recreation property in Effingham, SC; Approx. 20 cleared acres with pathways and wildlife habitat; Approx. 1‑acre stocked pond with brim and bass plus concrete dock
