Turnkey Fish Market
For Sale
$250,900
1401 W Darlington Street, Florence, SC 29501
Profitable, equipped fish market for sale in Florence, SC.
Property Size2,499 SF
Lot Size0.65 Acres
Price / SF$100.40
Days on Market642
Property Features for 1401 W Darlington Street
General Information
Standard status
Active
Size
2,499 SF
Lot size
0.65 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$1,343
Building Details
Year Built
1975
Listing Agency:
Gateway Realty Group
(843) 245-0140
Listed By:
Samantha P Murray · License #63422
(843) 245-0140
Source:
Exitrealty
Added: Nov 7, 2024
Changed: Aug 8
Last Checked: Aug 11 at 8:31AM
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 Gateway Realty Group
Investment Insights
Based on property information with market context.
This turnkey-ready and long-established commercial building, formerly known as "Gulf Stream Seafood Marker", is situated on 0.65 acres of land zoned for general commercial use. The property, located on West Darlington Street in Florence, SC, features approximately 2500 square feet of space and benefits from a daily traffic count averaging just over 10,900. It is located minutes away from thriving downtown development. The property is equipped with a spacious, fully operable kitchen that includes a 6-burner commercial-grade gas stove with overhead exhaust, three commercial-grade gas deep fryer cookers, an 8x12 walk-in cooler, an Arctic Air commercial refrigerator, five stainless steel prep tables, five commercial sinks, three hand washing sinks, a mop sink, a commercial-grade ice machine, a fresh seafood display cooler, and a beverage cooler. New electrical wiring and plumbing were installed in 2016. The recently remodeled and redecorated dining room area features new ceiling tiles, new light fixtures, and new ceiling fans, and can seat over 50 dine-in customers. The property offers high visibility and exposure, located 5 minutes from the downtown district, 10 minutes from Magnolia Mall, and 10 minutes from I-95 and I-20 Interstate. The sale includes all dining furnishings, commercial-grade appliances, and light fixtures. The property is ready for new owners to adopt and expand the existing concepts.
Key Highlights
- Turn‑key ready, long‑established, and profitable fish market ("Gulf Stream Seafood Marker") with a loyal local customer base.
- Fully equipped commercial kitchen with high‑end appliances including a 6‑burner gas stove, deep fryers, walk‑in cooler, and multiple prep tables and sinks.
- Prime location on West Darlington Street with high daily traffic count (10,900+) and general commercial zoning.
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
$17,908
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
7.14%
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%
$358,160
$358.2K
Cap Rate 7%
$255,829
$255.8K
Cap Rate 9%
$198,978
$199.0K
Market Conditions
NOI Build-Up for 2,499 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
$28.5K $11.40/SF
− Vacancy
−$2.9K −$1.16/SF
EGI
$25.6K $10.24/SF
− OpEx
−$7.7K −$3.07/SF
NOI
$17.9K $7.17/SF
Area
Florence County, SC
Vacancy
10.20%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
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%
$358,160
Cap Rate 7%
$255,829
Cap Rate 9%
$198,978
Alternative Uses
Best Use
Specialty Retail
$360.5K
$315.5K – $420.6K
NOI $25,236 @ 7.0% cap · market cap 10.06%
Second Best
Retail
$255.8K
$223.9K – $298.5K
NOI $17,908 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$368.4K
$322.4K – $429.8K
NOI $25,790 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,146
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 21%
Hotels & Casinos 13%
Groceries 3%
Family Dollar
Shops & Services
8,729 visits/mo
0.4 miles
El Agave
Dining
7,321 visits/mo
0.2 miles
Hyatt Place Florence / Downtown
Hotels & Casinos
4,449 visits/mo
0.3 miles
Shell
Shops & Services
4,428 visits/mo
0.0 miles
Mike Reichenbach Ford Lincoln
Shops & Services
3,190 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Profitable, equipped fish market for sale in Florence, SC.
Where is this grocery and convenience store located?
The property is located at 1401 W Darlington Street Florence, SC.
What is the asking price?
The asking price for this property is $250,900.
What are key features of this property?
This property features: Turn‑key ready, long‑established, and profitable fish market ("Gulf Stream Seafood Marker") with a loyal local customer base.; Fully equipped commercial kitchen with high‑end appliances including a 6‑burner gas stove, deep fryers, walk‑in cooler, and multiple prep tables and sinks.; Prime location on West Darlington Street with high daily traffic count (10,900+) and general commercial zoning.
