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    Residential Building Lot Title is generated by Realmo AI

    L21b13 Logan Lane lot 21, Mc Cormick, SC 29835

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    LAND - McCormick, SC

    Lot size:
    0.45 Acres
    Added:
    May 28, 2025
    Days on Market:
    373
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for L21b13 Logan Lane lot 21

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    residential
    Standard status
    Active
    APN
    0870013021
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Monticello S/D Block 13 Lot 21

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Shannon Stewart

    Listing agent Shannon Stewart License #127613

    Listing office Savannah Lakes Realty 1230 SC Hwy 7, McCormick, SC

    Listing date May 28, 2025

    MLS# 98224309 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Access to all Savannah Lakes Village amenities: two championship golf courses, swimming pools, pickleball, tennis, clubhouses/restaurants, fitness classes, and social clubs.
    • Exceptional privacy due to being surrounded on two sides by Savannah Lakes Common Property.
    • Shape of the lot is ideal for many of the community's popular floor plans.
    • Close proximity to Monticello Golf Course, Monti's Restaurant, and downtown McCormick.
    • Includes social membership to Savannah Lakes Village.
    • Lot slope suitable for a raised slab or crawlspace foundation.

    Overview

    This residential building lot offers an opportunity to create a home designed around an established community setting. The property is surrounded on two sides by Savannah Lakes Common Property, creating an unusually private feel. Its shape is described as well suited for many of the community’s most popular floor plans, and the lot’s slope may work particularly well for a raised slab or crawlspace approach.

    The lot is located in Savannah Lakes Village near Monticello Golf Course and Monti’s Restaurant, with downtown McCormick also noted as nearby. The community provides access to a full range of on-site activities and shared amenities.

    Buyers planning to build will find this lot appealing if privacy and an amenity-rich neighborhood matter. With a stated social membership and access to Savannah Lakes Village amenities, the property supports an active lifestyle, including two Junior Olympic size swimming pools (one indoor and one outdoor), two championship golf courses, pickleball, tennis, and two clubhouses/restaurants. Daily fitness classes and social clubs such as The Outdoor Adventure Club and Rod & Gun are also included, offering many ways to engage after construction is complete.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Mc Cormick
    County
    McCormick
    State
    South Carolina
    Longitude
    -82.369229
    Latitude
    33.902864

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    FAQs

    What type of property is this?
    Residential land & home lot - A private, residentially zoned lot within Savannah Lakes Village with planned access to extensive golf, pool, and recreation amenities.
    Where is this residential land & home lot located?
    The property is located at L21b13 Logan Lane lot 21 Mc Cormick, SC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Access to all Savannah Lakes Village amenities: two championship golf courses, swimming pools, pickleball, tennis, clubhouses/restaurants, fitness classes, and social clubs.; Exceptional privacy due to being surrounded on two sides by Savannah Lakes Common Property.; Shape of the lot is ideal for many of the community's popular floor plans.
    (864) 602-3140
    We can help!
    Listing Contact
    Shannon Stewart
    Real Estate License ID: 127613
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    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.

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