Flex Space with
For Sale
Contact for pricing
600 S Irby St., Florence, SC 29501
Office, showroom, warehouse, and storage areas support an established tire service operation.
Property Size8,400 SF
Lot Size0.71 Acres
Price / SF$77.38
Days on Market133
Property Features for 600 S Irby St.
General Information
Standard status
Active
Size
8,400 SF
Lot size
0.71 Acres
Property subtype
Special Purpose
Additional Details
Road Access
Yes
Amenities
office/showroom
warehouse
roll-up doors
second-floor storage
Building Details
Year Built
1963
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Seaboard McMillan
(843) 472-0209
Listed By:
Ross McMillan · License #SC140676
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 8:49PM
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 Coldwell Banker Commercial Seaboard McMillan
Investment Insights
Based on property information with market context.
This 8,400-square-foot flex property combines customer-facing office and showroom areas with an open warehouse designed around operational use. Multiple roll-up doors provide access to the warehouse, while additional storage is located on the second floor. Constructed in 1963, the building is occupied by a long-term tenant operating a tire service business.
The 0.71-acre site occupies a corner position at 600 S Irby St. in Florence, South Carolina. It includes approximately 95 feet of frontage along Irby Street and 333 feet along Cedar Street, placing the property within a visible commercial corridor. The combination of office, showroom, warehouse, and storage space supports the current automotive-oriented use.
The 0.71-acre site occupies a corner position at 600 S Irby St. in Florence, South Carolina. It includes approximately 95 feet of frontage along Irby Street and 333 feet along Cedar Street, placing the property within a visible commercial corridor. The combination of office, showroom, warehouse, and storage space supports the current automotive-oriented use.
Key Highlights
- 8,400‑square‑foot flex building constructed in 1963
- 0.71‑acre corner site at 600 S Irby St., Florence, SC 29501
- Approximately 95 feet of frontage on Irby Street and 333 feet along Cedar Street
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
$53,409
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
8.22%
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%
$1,068,180
$1.1M
Cap Rate 7%
$762,986
$763.0K
Cap Rate 9%
$593,433
$593.4K
Market Conditions
NOI Build-Up for 8,400 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
$65.5K $7.80/SF
− Vacancy
−$2.7K −$0.32/SF
EGI
$62.8K $7.48/SF
− OpEx
−$9.4K −$1.12/SF
NOI
$53.4K $6.36/SF
Area
Florence County, SC
Vacancy
4.10%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,068,180
Cap Rate 7%
$762,986
Cap Rate 9%
$593,433
Alternative Uses
Best Use
Retail
$859.9K
$752.4K – $1.00M
NOI $60,195 @ 7.0% cap · market cap 9.26%
Second Best
Warehouse
$763.0K
$667.6K – $890.2K
NOI $53,409 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,484
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office, showroom, warehouse, and storage areas support an established tire service operation.
Where is this flex space located?
The property is located at 600 S Irby St. Florence, SC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 8,400‑square‑foot flex building constructed in 1963; 0.71‑acre corner site at 600 S Irby St., Florence, SC 29501; Approximately 95 feet of frontage on Irby Street and 333 feet along Cedar Street
