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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    116 Healthcare Dr Lancaster, SC 29720-8037

    • Medical offices
    • 4,536 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0770580
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Kashyap B. Patel, MD / Hematologist

    Property Details for 116 Healthcare Dr

    Year built
    2008
    Construction
    WOOD
    Lot size
    0.47 lot acres
    Property size
    4,536 SF
    Zone code
    PB
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    0049-00-094.03
    APU
    490009403

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $304,000
      Market price range: $171k - $347k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $255,000
      Current use
      COMMERCIAL (GENERAL)
      $375,000
      Change: +47% Conversion: Easy
      WAREHOUSE, STORAGE
      $265,000
      Change: +4% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    South Carolina
    Longitude
    -80.7899
    Latitude
    34.7728
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,742
    $8,149
    $36,380
    $44,529
    -
    $140,700
    $628,100
    $768,800

    Comparable in this City

    • Value Estimation
      $795,000
      8,746 SF

      541 Hwy 9th E Byp

      MEDICAL BUILDING • 8,746 SF
      541 Hwy 9th E Byp, Lancaster, SC 29720
      View Details
    • Value Estimation
      $160,000
      4,860 SF

      901 Meeting St

      MEDICAL BUILDING • 4,860 SF
      901 Meeting St, Lancaster, SC 29720-6200
      View Details
    • Value Estimation
      $335,000
      10,305 SF

      1029 Meeting St

      MEDICAL BUILDING • 10,305 SF
      1029 Meeting St, Lancaster, SC 29720-2205
      View Details
    • Value Estimation by Request
      4,705 SF

      1010 Woodland Dr

      MEDICAL BUILDING • 4,705 SF
      1010 Woodland Dr, Lancaster, SC 29720-1966
      View Details
    • Value Estimation
      $160,000
      1,341 SF

      821 Meeting St

      MEDICAL BUILDING • 1,341 SF
      821 Meeting St, Lancaster, SC 29720-2201
      View Details
    • Value Estimation
      $110,000
      2,210 SF

      727 Gillsbrook Rd

      MEDICAL BUILDING • 2,210 SF
      727 Gillsbrook Rd, Lancaster, SC 29720-1817
      View Details

    Similar Nearby for Sale

    • $1,100,000
      8,482 SF

      Two Professional Buildings Near MUSC

      Two professional buildings on one property near the Medical University.
      1201-1203 Colonial Commons Ct, Lancaster, SC 29720
      View Details
    • $975,000
      0.82 Acres

      Two Professional Buildings Near MUSC

      Two professional office buildings near MUSC in Lancaster, South Carolina.
      1201 Colonial Cmns Ct, Lancaster, SC 29720
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    • $325,000
      3,400 SF

      Lancaster Light Industrial Facility

      3,400 SF facility on 2 acres near Rock Hill.
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    • $275,000
      2.39 Acres

      High-Visibility Lancaster Commercial Land

      Prime Lancaster location, high traffic, 2.39 acres.
      00 Highway 9 Byp, Lancaster, SC 29720
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    • $115,000
      11.66 Acres

      Lancaster Land For Sale

      11.66 acres of wooded property in downtown Lancaster, SC.
      Woodland Dr, Lancaster, SC 29720
      View Details
    • Contact for pricing
      0.20 Acres

      Wooded Lot in Lancaster, SC

      Residential land near shopping; ideal for building or investment.
      1801 Grace Ave, Lancaster, SC 29720
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,360 SF

      Downtown Lancaster Office Space

      Prime Lancaster SC location, flexible spaces.
      114 Gay St, Lancaster, SC 29720
      View Details
    • $875,000
      6,900 SF

      Lancaster Medical/Office Space Available

      Versatile space near MUSC Health Lancaster Medical Center.
      980 N Woodland Dr, Lancaster, SC 29720
      View Details
    • Contact for pricing
      2,322 SF

      Lancaster Retail Space - Hwy 200

      Prime Lancaster retail/office, 2322 SF.
      100 Monroe Hwy, Lancaster, SC 29720
      View Details
    • Contact for pricing
      12,800 SF

      University Place Retail Center

      Lancaster, SC: 8,000 SF Available
      945-973 Highway 9 Byp, Lancaster, SC 29720
      View Details
    • Contact for pricing
      14,400 SF

      University Place Retail Opportunity

      Lancaster, SC: 6,000 SF Available
      905-933 Highway 9 Byp, Lancaster, SC 29720
      View Details
    • Contact for pricing
      181,542 SF

      1256 Highway 9 Byp

      Retail properties • 181,542 SF
      1256 Highway 9 Byp, Lancaster, SC 29720
      View Details
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    116 Healthcare Dr
    Lancaster, SC 29720-8037
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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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