Historic Office
For Sale
$2,700,000
248-260 W Evans st., Florence, SC 29501
COMMERCIAL/INDUSTRIAL, Florence, SC
Property Size16,000 SF
Lot Size1.47 Acres
Price / SF$165.60
Days on Market218
Property Features for 248-260 W Evans st.
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Office Center
Subdivision
FLORENCE
Standard status
Active
Size
16,304 SF
Lot size
1.47 Acres
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1939
Listing Agency:
C/B McMillan and Assoc. · Coldwell Banker Real Estate
(843) 667-1100
Listed By:
William McMillan · License #19719
(843) 601-7710
Added: Mar 14
Changed: Oct 17
Last Checked: Oct 17 at 2:06PM
MLS# 2600905
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.
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Investment Insights
Based on property information with market context.
Constructed in 1939, this historic office property provides a substantial professional setting with multiple occupied areas. The current configuration includes a law firm, H&R Block, and Smith Hair Studio, along with 23 offices, 7 bathrooms, 8 boardrooms and meeting spaces, a kitchen, library, reception area, and waiting space.
The property occupies 1.47 acres in downtown Florence and includes over 100 parking spaces. Central air conditioning is supported by electric and heat-pump heating systems. Its combination of established occupancy, extensive office improvements, and on-site parking creates a distinctive downtown office asset.
The property occupies 1.47 acres in downtown Florence and includes over 100 parking spaces. Central air conditioning is supported by electric and heat-pump heating systems. Its combination of established occupancy, extensive office improvements, and on-site parking creates a distinctive downtown office asset.
Key Highlights
- 1939 construction with historic character
- 1.47‑acre downtown Florence office property
- Over 100 on‑site parking spaces
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
Mixed Use
$1.73M
$1.51M – $2.02M
NOI $121,057 @ 7.0% cap · market cap 4.48%
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.
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Current Use
Lease Details
Multi-tenant
Tenancy
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Established professional layout with multiple occupants, meeting rooms, reception space, and dedicated parking in downtown Florence.
Where is this office building located?
The property is located at 248-260 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: 1939 construction with historic character; 1.47‑acre downtown Florence office property; Over 100 on‑site parking spaces
