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    515 Front St Georgetown, SC 29440
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    515 Front St Georgetown, SC 29440

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    • Office properties & Spaces
    • 0.23 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 515 Front St

    Lot size
    0.23 lot acres
    Property type
    Office properties & Spaces

    Description

    This exceptional 9-office commercial property at 515 Front St., Georgetown, SC, presents a unique investment opportunity in the heart of the Historic District. Located at the northern edge of the vibrant downtown shopping and dining area, this 0.23-acre property enjoys a bustling atmosphere and charming historical setting. Its advantageous position is further enhanced by its proximity to the Georgetown Chamber of Commerce and the newly opened 56-room waterfront boutique hotel, The George. The property's rear faces the Sampit River, adding to its appeal and benefiting from planned renovations including new townhomes (catering to Vrbo and AirB&B) and a new marina, promising increased foot traffic and business opportunities. The influx of hotel guests from The George creates a strong market for businesses such as a high-end spa, catering to weddings, events, and hotel patrons. Other possibilities include a high-end restaurant or corporate office space. The building itself offers 9 spacious offices, a large conference room, a kitchen, two bathrooms, and thirteen parking spaces. Customization options are available to suit various business needs. This property offers unparalleled potential for growth and success in a thriving, historic location. The possibilities are endless for a discerning investor seeking a prime commercial space in Georgetown's burgeoning downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Georgetown
    State
    South Carolina
    Longitude
    -79.2807
    Latitude
    33.3642

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      104 Screven St

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    • Value Estimation by Request
      1,506 SF

      804 Elizabeth St

      OFFICE (GENERAL) • 1,506 SF
      804 Elizabeth St, Georgetown, SC 29440-3964
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    • Value Estimation by Request
      2,100 SF

      10758 Fraser St

      OFFICE (GENERAL) • 2,100 SF
      10758 Fraser St, Georgetown, SC 29440-5354
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    • Value Estimation by Request
      7,245 SF

      2629 Fraser St

      OFFICE (GENERAL) • 7,245 SF
      2629 Fraser St, Georgetown, SC 29440-6412
      View Details
    • Value Estimation
      $710,000
      5,058 SF

      1134 Fraser St

      OFFICE (GENERAL) • 5,058 SF
      1134 Fraser St, Georgetown, SC 29440-2850
      View Details
    • Value Estimation by Request
      4,465 SF

      604 Frnt St

      OFFICE (GENERAL) • 4,465 SF
      604 Frnt St, Georgetown, SC 29440-3624
      View Details

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    Georgetown, SC 29440
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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.

    More about this property
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