Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1947 Hoffmeyer Rd Florence, SC 29501
    Property profile & analytics

    1947 Hoffmeyer Rd, Florence, SC 29501

    View on Map
    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U.S. Hearing Solutions / Hearing Aid Store
    • Lyles Data Systems Inc / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 1947 Hoffmeyer Rd

    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 950-square-foot office suite, located at 1947-A Hoffmeyer Road in Florence County, is perfectly suited for executive or medical office use. The property is a single-tenant space, offering privacy and control. A significant advantage is the ample parking available for staff and clients. The suite underwent a complete renovation in October 2017, ensuring modern and updated facilities. The space is currently available for lease, with an anticipated vacancy date of November 1, 2020. This presents a unique opportunity for businesses seeking a well-maintained, conveniently located office space in a desirable area of Florence County. The property's single-tenant occupancy provides a streamlined and efficient work environment. The recent renovation ensures modern aesthetics and functionality, minimizing the need for immediate upgrades or repairs. The abundance of parking eliminates common parking challenges often associated with office spaces. Interested parties are encouraged to inquire promptly to secure this prime office location. The property is classified as both Executive Office and Medical Office space, making it versatile and adaptable to a range of professional needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.8055
    Latitude
    34.1916

    Comparable in this City

    • Value Estimation by Request
      1,678 SF

      651 Coit St

      MEDICAL BUILDING
      651 Coit St, Florence, SC 29501-5256
      View Details
    • Value Estimation by Request
      5,847 SF

      436 Palmetto St

      MEDICAL BUILDING
      436 Palmetto St, Florence, SC 29501-4425
      View Details
    • Value Estimation by Request
      2,797 SF

      517 Palmetto St

      DENTAL BUILDING
      517 Palmetto St, Florence, SC 29501-4427
      View Details
    • Value Estimation by Request
      1,613 SF

      322 Coit St

      DENTAL BUILDING
      322 Coit St, Florence, SC 29501-4746
      View Details
    • Value Estimation by Request
      6,849 SF

      702 Coit St

      DENTAL BUILDING
      702 Coit St, Florence, SC 29501-5113
      View Details
    • Value Estimation
      $2,415,000
      4,118 SF

      2410 Hoffmeyer Rd

      MEDICAL BUILDING
      2410 Hoffmeyer Rd, Florence, SC 29501-7311
      View Details

    Similar Nearby for Sale

    • $320,000
      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
    • $250,000
      0.31 Acres

      Prime Commercial Property on Palmetto

      High-visibility commercial property on a high-traffic street in Florence.
      2228 W Palmetto St, Florence, SC 29501
      View Details
    • Contact for pricing

      South Irby Street Commercial Lot

      0.46 acre lot suitable for retail or office development.
      623 South Irby St, Florence, SC 29501
      View Details
    • Contact for pricing
      2,600 SF

      Office/Retail Conversion Opportunity

      2600 SF residence on 1.6 acres, suitable for conversion.
      2901 W Palmetto St, Florence, SC 29501
      View Details
    • Contact for pricing
      16,304 SF

      Historic Downtown Florence Building For Sale

      16,000 SF historic building in downtown Florence for sale.
      248 W Evans St, Florence, SC 29501
      View Details
    • Contact for pricing
      1,085 SF

      Freestanding Office Building For Sale

      Leased office building with immediate income potential in Florence.
      1221 West Evans St, Florence, SC 29501
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      3,800 SF

      Five Points Office Building, Florence SC

      Prime Florence Office Space: 3,800 sq ft, Multiple Suites
      1803 Cherokee Rd, Florence, SC 29501
      View Details
    • $5,000 /Mo
      11,390 SF

      Versatile Commercial Space in Florence

      Commercial property with bay doors, ideal for automotive or warehouse.
      374 Darlington St, Florence, SC 29501
      View Details
    • Contact for pricing

      New Metal Building Near Highways

      Newly constructed flex/industrial/office space near major highways.
      2315 Prosperity Way, Florence, SC 29501
      View Details
    • Contact for pricing

      Downtown Florence Open Concept Office

      Open concept office space with exceptional visibility in Downtown Florence.
      620 W Evans St, Florence, SC 29501
      View Details
    • Contact for pricing

      Refreshed Office Building For Lease

      Standalone office building with private parking near Downtown Florence, SC.
      620 W Evans St, Florence, SC 29501
      View Details
    • Contact for pricing
      2,000 SF

      Commercial Office Space For Rent

      Office space available in Shoppes at Celebration shopping center.
      2527 S Cashua Dr, Florence, SC 29501
      View Details
    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.
    1947 Hoffmeyer Rd
    Florence, SC 29501
    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

    Thank You for Inquiry
    1947 Hoffmeyer Rd, Florence, SC, 29501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!