Vacant Convenience Store and Gas
For Sale
Contact for pricing
Pending
4011 E Palmetto St, Florence, SC 29506
Vacant 2,957 SF c-store paired with a 76-branded gas station at 4011 E Palmetto St in Florence, SC.
Property Size2,957 SF
Days on Market201
Property Features for 4011 E Palmetto St
General Information
Standard status
Pending
Size
2,957 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1987
Year Renovated
2023
Listing Agency:
Matthews
Listed By:
Andrew Ivankovich · License #TX 678815
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Jul 24 at 6:04PM
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 Matthews
Investment Insights
Based on property information with market context.
Matthews Real Estate is pleased to offer for sale a vacant convenience store and 76-branded gas station. The property includes a 2,957 SF c-store and operates as a branded gas station with the 76 brand.
The asset is located at 4011 E Palmetto St in Florence, South Carolina, on a commercial corridor.
This offering is presented as ready for a new operator to take over the existing c-store and branded gas station configuration.
The asset is located at 4011 E Palmetto St in Florence, South Carolina, on a commercial corridor.
This offering is presented as ready for a new operator to take over the existing c-store and branded gas station configuration.
Key Highlights
- ±2,957 SF vacant C‑store and 76‑branded gas station for sale
- Located at 4011 E Palmetto St in Florence, SC
- Property built in 1987
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
$29,861
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
3.76%
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%
$597,220
$597.2K
Cap Rate 7%
$426,586
$426.6K
Cap Rate 9%
$331,789
$331.8K
Market Conditions
NOI Build-Up for 2,957 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
$41.5K $14.04/SF
− Vacancy
−$1.7K −$0.58/SF
EGI
$39.8K $13.46/SF
− OpEx
−$10.0K −$3.37/SF
NOI
$29.9K $10.10/SF
Area
Florence County, SC
Vacancy
4.10%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
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%
$597,220
Cap Rate 7%
$426,586
Cap Rate 9%
$331,789
Alternative Uses
Best Use
Specialty Retail
$426.6K
$373.3K – $497.7K
NOI $29,861 @ 7.0% cap · market cap 3.76%
Second Best
Retail
$302.7K
$264.9K – $353.2K
NOI $21,190 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$435.9K
$381.5K – $508.6K
NOI $30,516 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
4,249 visits/mo
0.1 miles
Demographics for 29506, SC
19,967
Population
8,710
Households
2.3
Avg Household Size
37
Median Age
15%
College-Educated
80%
High-School Grad
120.8 sq mi
ZIP Area
165
Density / Sq Mi
$38,441
Median Household Income
$25,677
Median Earnings
$802
Median Rent
$114,400
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?
Gas station - Vacant 2,957 SF c-store paired with a 76-branded gas station at 4011 E Palmetto St in Florence, SC.
Where is this gas station located?
The property is located at 4011 E Palmetto St Florence, SC.
What is the asking price?
The asking price for this property is $795,072.
What are key features of this property?
This property features: ±2,957 SF vacant C‑store and 76‑branded gas station for sale; Located at 4011 E Palmetto St in Florence, SC; Property built in 1987
