Flexible Retail and Office
New
For Sale
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821 2nd Loop Road, Florence, SC 29505
New construction with adaptable suites, shell interiors, and on-site parking along a heavily traveled commercial corridor.
Property Size5,400 SF
Price / SF$180.56
Days on Market7
Property Features for 821 2nd Loop Road
General Information
Standard status
Active
Size
5,400 SF
Total Parking Spaces
15
Property subtype
Retail, Office
Additional Details
Traffic Count
26,100 vehicles/day
Building Details
Buildings
1
Listing Agency:
Palmetto Commercial
Listed By:
David Tedder · License #SC 47763
(843) 667-4999
Source:
Crexi
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 6:01AM
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 Palmetto Commercial
Investment Insights
Based on property information with market context.
This newly constructed mixed-use building contains three approximately 1,800-square-foot suites that can operate separately or be combined. The interiors are in shell condition, allowing future buildout to be tailored to individual business or tenant requirements. The property includes 15 lined parking spaces and supports both retail and office use.
Positioned on 2nd Loop Road in Florence, the building benefits from visibility along a corridor carrying approximately 26,100 vehicles per day. Its suite configuration provides flexibility for an owner-user or investor seeking multiple commercial spaces within one property.
Positioned on 2nd Loop Road in Florence, the building benefits from visibility along a corridor carrying approximately 26,100 vehicles per day. Its suite configuration provides flexibility for an owner-user or investor seeking multiple commercial spaces within one property.
Key Highlights
- Three approximately 1,800 SF suites that can be used separately or combined
- Newly constructed building with shell interiors ready for future buildout
- 15 lined parking spaces
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
$42,610
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
4.37%
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%
$852,200
$852.2K
Cap Rate 7%
$608,714
$608.7K
Cap Rate 9%
$473,444
$473.4K
Market Conditions
NOI Build-Up for 5,400 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
$68.0K $12.60/SF
− Vacancy
−$11.2K −$2.08/SF
EGI
$56.8K $10.52/SF
− OpEx
−$14.2K −$2.63/SF
NOI
$42.6K $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 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%
$852,200
Cap Rate 7%
$608,714
Cap Rate 9%
$473,444
Alternative Uses
Best Use
Office B
$608.7K
$532.6K – $710.2K
NOI $42,610 @ 7.0% cap · market cap 4.37%
Second Best
Mixed Use
$572.8K
$501.2K – $668.3K
NOI $40,095 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$796.1K
$696.6K – $928.8K
NOI $55,728 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
26,100 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 29505, SC
25,269
Population
10,647
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
50.9 sq mi
ZIP Area
496
Density / Sq Mi
$64,194
Median Household Income
$40,594
Median Earnings
$1,084
Median Rent
$174,100
Median Home Value
Check the figures for this property
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?
Mixed-use property - New construction with adaptable suites, shell interiors, and on-site parking along a heavily traveled commercial corridor.
Where is this mixed-use property located?
The property is located at 821 2nd Loop Road Florence, SC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Three approximately 1,800 SF suites that can be used separately or combined; Newly constructed building with shell interiors ready for future buildout; 15 lined parking spaces
