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    Prime Development Land on Charlotte Highway Title is generated by Realmo AI

    2383 Charlotte Highway, Lancaster, SC 29720

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    Claim this Listing
    For Sale
    $2,200,000

    LAND - Lancaster, SC

    Lot size:
    15.55 Acres
    Added:
    May 27, 2025
    Days on Market:
    364
    Last Refresh:
    May 25 at 3:06 pm

    Property Features for 2383 Charlotte Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    G-B
    Standard status
    Active
    APN
    0049-00-095.00
    Lot size
    15.55 Acres

    Taxes and HOA fees

    Tax Description
    Hwy 521

    We can help!

    Listing Contact
    Dawn Jordan
    Dawn Jordan

    Listing agent Dawn Jordan License #15795

    Listing office 10th Avenue Realty 292 Tufton Ct, Indian Land, SC

    Listing date May 27, 2025

    MLS# 4264267 Listing URL

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

    HighLights

    • Prime development opportunity on Charlotte Hwy/Hwy 521, Lancaster County's fastest‑growing corridor.
    • Zoned General Business with high daily traffic count (27,500).
    • Located beside Lancaster Medical Park and surrounded by new residential communities.
    • Proximity to major upcoming developments: Lennar Homes' Roselyn Community (1,800 home sites), DR Horton's New Community (300 home sites), and a future 150‑acre residential development.
    • Total of 15.55 acres with 463 feet of road frontage.
    • Seller is open to Letters of Intent, Joint Ventures, parcel splits, and split front from the back.

    Overview

    This property presents an exceptional development opportunity situated on Charlotte Highway (Hwy 521), Lancaster County's busiest and fastest-growing corridor connecting South Carolina and North Carolina. The site consists of two parcels totaling 15.55 acres (8.88 acres and 6.67 acres), featuring 463 feet of road frontage. The property is located beside Lancaster Medical Park and is surrounded by multiple new residential communities. Zoned General Business, the location benefits from a high daily traffic count of 27,500. It is centrally located near major upcoming developments, including Lennar Homes' Roselyn Community (1.3 miles away), a 1,475-acre active adult (55+) neighborhood with 1,800 home sites and a state-of-the-art athletic complex; DR Horton's New Community (0.5 miles away), a 121-acre project featuring 300 home sites; and a future residential development on a 150-acre tract slated for new construction just east of the property. The seller is open to Letters of Intent and Joint Ventures and may consider parcel splits and/or split front from the back.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Auto Repair Shop Auto Parts Store Kitchen & Bath Showroom Daycare Center Grocery & Convenience Store Storage Facility (Bike/Boat/Book/etc) Store Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    South Carolina
    Longitude
    -80.789809
    Latitude
    34.771336

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    FAQs

    What type of property is this?
    Commercial land - Development opportunity on a high-traffic corridor near residential developments.
    Where is this commercial land located?
    The property is located at 2383 Charlotte Highway Lancaster, SC.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Prime development opportunity on Charlotte Hwy/Hwy 521, Lancaster County's fastest‑growing corridor.; Zoned General Business with high daily traffic count (27,500).; Located beside Lancaster Medical Park and surrounded by new residential communities.
    (704) 770-6825
    We can help!
    Listing Contact
    Dawn Jordan
    Dawn Jordan
    Real Estate License ID: 15795
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    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
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