Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1617 W Lucas St Florence, SC 29501

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land with high traffic and I-95 access.

    Type:Land
    Added:
    Sep 30, 2022
    Days on Market:
    1297
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 1617 W Lucas St

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    H Winston Hines

    Listing agent H Winston Hines License #SC 13801

    Listing office HWH Properties

    Listing date Sep 30, 2022

    Source Crexi

    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 HWH Properties

    Overview

    Commercial Land I-95 Access

    This commercial land is suitable for various uses, including self-storage, retail, hotel, or laydown yard. The property benefits from high traffic on Lucas Street and Highway 52, and it is located approximately 1/4 mile from Exit 164 on I-95. The land is level and has all utilities available. It is zoned B-3 and is situated next to a car dealership. The buyer will have a 50-60' right-of-way onto the property. Traffic counts on US 52 S-91 (Chase St) to I-95 (Interstate 95) were between 18,400 and 21,000 cars per day in 2020. The property is not in a flood zone.
    Location Intelligence

    Current Use by Public Records

    Mc Call & Blackmon ... Production Facility Level Nightclub Cheetahs Gentlemen's Club Nightclub

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7922325
    Latitude
    34.224371

    Nearby Similar for Sale

    • $340,000
      2,165 SF

      Remodeled Commercial Building Near Downtown

      Turnkey commercial property in prime location with excellent visibility.
      910 W Evans st, Florence, SC 29501
      View Details
    • $2,700,000
      16,304 SF

      Historic Downtown Florence Commercial Building

      16,000 SF historic building in thriving downtown Florence.
      248-260 W Evans st., Florence, SC 29501-3428
      View Details
    • $550,000
      67,518 SF

      Industrial Building in Florence, SC

      Standalone industrial building suitable for various commercial and industrial uses.
      121 Lawson St, Florence, SC 29501
      View Details
    • $1,305,000
      4,125 SF

      Established Auto Body Business For Sale

      Turn-key auto body business with equipment, client roster, and real estate.
      803 Ranch Rd., Florence, SC 29506
      View Details
    • $199,000
      40,000 SF

      Industrial Buildings with Power & Access

      Two industrial buildings ideal for fabrication, automotive, or storage.
      120 N Guerry Street, Florence, SC 29501
      View Details
    • $980,000

      Prime Commercial Development Site

      4.76-acre commercial land with high traffic exposure in Florence, SC.
      917 S Cashua Drive, Florence, SC 29501
      View Details
    • $785,000

      Florence, SC Mobile Home Portfolio

      High-performing 11-unit mobile home portfolio with strong cash flow.
      3103 Meadowbrook Dr, Flornce, SC 29501
      View Details
    • $1,500,000

      Prime Commercial Land Near I-95

      7.27 acres of commercial land near I-95 in Florence, SC.
      3312 Meadors Road, Florence, SC 29501
      View Details
    • $265,000
      2,422 SF

      Prime Location Commercial Land

      Commercial land in a prime location, sold as is.
      818 S Cashua Drive, Florence, SC 29501
      View Details
    • $79,000
      1,200 SF

      Florence Commercial Building on Evans

      Standalone building on Evans Street with redevelopment potential.
      617 W Evans St, Florence, SC 29501
      View Details
    • $900

      Apartment Complex in Florence, SC

      Apartment complex with multiple units available in Florence, SC.
      730 S Dargan Street, Florence, SC 29501
      View Details
    • $195,000

      Duplex in Florence, South Carolina

      Duplex in Florence, SC. Tenant occupied upstairs unit.
      163 S Sunset Drive, Florence, SC 29501
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with high traffic and I-95 access.
    Where is this commercial land located?
    The property is located at 1617 W Lucas St Florence, SC.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: High traffic location on Lucas Street and Highway 52, near I‑95 (Exit 164).; Suitable for various commercial uses: Self Storage, Retail, Hotel, Laydown Yard.; All utilities are available on site.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    H Winston Hines
    Real Estate License ID: SC 13801
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!