Historic Downtown Florence Building For
For Sale
$2,700,000
248 258 and 268 W Evans St., Florence, SC 29501
16,000 SF historic building in downtown Florence for sale.
Property Size16,304 SF
Lot Size1.47 Acres
Price / SF$165.60
Days on Market201
Property Features for 248 258 and 268 W Evans St.
General Information
Standard status
Active
Size
16,304 SF
Lot size
1.47 Acres
Property subtype
Mixed Use
Zoning
General Commercial
Building Details
Building Size
16,304 SF
Year Built
1935
Stories
2
Listed By:
Joe McMillan
(843) 665-8803
Source:
Cbcworldwide
Added: Mar 27
Changed: Oct 3
Last Checked: Oct 12 at 4:38PM
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 Joe McMillan
Investment Insights
Based on property information with market context.
This historic 16,000 square foot building is located in downtown Florence. The property, set on 1.47 acres, is currently home to a Law Firm occupying 13,759 square feet with 23 offices, 7 bathrooms, 8 boardrooms and meeting spaces, a kitchen area, a library, and a designated reception and waiting area. Additionally, H&R Block occupies 1,977 square feet, and Smith Hair Studio occupies 568 square feet. The property offers over 100 parking spaces. This versatile space is suitable for a variety of uses and provides ample room for growth and development.
Key Highlights
- Prime downtown Florence location in a thriving area.
- Large 16,000 sq ft historic building with limitless potential.
- Versatile space suitable for a variety of uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,651
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,573,020
$2.6M
Cap Rate 7%
$1,837,871
$1.8M
Cap Rate 9%
$1,429,456
$1.4M
Market Conditions
NOI Build-Up for 16,304 SF
Gross rent
$205.4K $12.60/SF
− Vacancy
−$33.9K −$2.08/SF
EGI
$171.5K $10.52/SF
− OpEx
−$42.9K −$2.63/SF
NOI
$128.7K $7.89/SF
Area
Florence County, SC
Vacancy
16.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,573,020
Cap Rate 7%
$1,837,871
Cap Rate 9%
$1,429,456
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.14M
NOI $128,651 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,257 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,251
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - 16,000 SF historic building in downtown Florence for sale.
Where is this office building located?
The property is located at 248 258 and 268 W Evans St. Florence, SC.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime downtown Florence location in a thriving area.; Large 16,000 sq ft historic building with limitless potential.; Versatile space suitable for a variety of uses.
