Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1601 Irby St Florence, SC 29505-3411

    • Drive through restaurants
    • 3,368 SF
    • 0.63 lot acres
    OFF-MARKET
    Last Sale
    Apr 02, 2024
    $851,261
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0528053
    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

    • KFC / Chicken Restaurant / Fast Food Restaurant

    Property Details for 1601 Irby St

    Year built
    1993
    Lot size
    0.63 lot acres
    Property size
    3,368 SF
    Property type
    Drive through restaurants
    APN
    90093-01-011
    APU
    9009301011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $775,000
      ML approach
      $895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $900,000
      Market price range: $470k - $1.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7655
    Latitude
    34.1641
    CBSA code
    22500
    CBSA name
    FLORENCE, 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
    $10,319
    $8,870
    $10,409
    $19,279
    -
    $221,760
    $260,223
    $481,983

    Comparable in this City

    • Value Estimation
      $75,000
      3,362 SF

      1606 Irby St Ste

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,362 SF
      1606 Irby St Ste, Florence, SC 29505-3410
      View Details
    • Value Estimation
      $370,000
      2,592 SF

      1104 Pamplico Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,592 SF
      1104 Pamplico Hwy, Florence, SC 29505-6024
      View Details
    • Value Estimation
      $155,000
      1,844 SF

      1352 Irby St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,844 SF
      1352 Irby St, Florence, SC 29505-2756
      View Details
    • Value Estimation
      $5,525,000
      1,507 SF

      1738 Irby St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,507 SF
      1738 Irby St, Florence, SC 29505-3412
      View Details
    • Value Estimation
      $135,000
      2,776 SF

      201 2nd Loop Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,776 SF
      201 2nd Loop Rd, Florence, SC 29505-2811
      View Details
    • Value Estimation by Request
      2,646 SF

      619 Pamplico Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,646 SF
      619 Pamplico Hwy, Florence, SC 29505-6015
      View Details

    Similar Nearby for Sale

    • $739,000
      4,682 SF

      Florence Restaurant - Prime Location

      Established Restaurant, 4,682 SF, 1.48 Acres
      1513 Pamplico Hwy, Florence, SC 29505
      View Details
    • $125,000
      2,400 SF

      Former Convenience Store Investment Property

      Fixer-upper retail property with 150' frontage, great investment potential.
      1134 E Howe Springs Rd, Florence, SC 29505
      View Details
    • $229,900
      0.80 Acres

      Pamplico Highway Commercial Opportunity

      Commercial lot on heavily traveled Pamplico Highway with multiple driveways.
      1424 Pamplico Hwy, Florence, SC 29505
      View Details
    • $389,000
      1.74 Acres

      Florence County Development Site

      ±1.74 Acres, High Traffic Area
      0 Mountain Laurel Ct, Florence, SC 29505
      View Details
    • Contact for pricing
      130.00 Acres

      130 Acres Commercial Land, Florence SC

      Prime Florence location, B3 zoning, subdivisible.
      0 Freedom Blvd, Florence, SC 29505
      View Details
    • $69,900
      3.93 Acres

      Florence Land with Updated Survey

      Residential land available in Florence, South Carolina with recent survey.
      6 Aunt Prissey Ct, Florence, SC 29505
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      47,905 SF

      Claussen Retail Center Space Available

      Grocery-anchored retail space in Florence, SC.
      2332 Pamplico Hwy, Florence, SC 29505
      View Details
    • Contact for pricing
      37,488 SF

      Southside Commons Retail Space

      Florence, SC Retail Center - 1 Space Available
      2014 Irby St, Florence, SC 29505
      View Details
    • Contact for pricing
      32,670 SF

      Langston Loop Outparcel: Prime Retail Site

      Florence, SC retail land: build-to-suit or ground lease.
      500 2Nd Loop Rd, Florence, SC 29505
      View Details
    • Contact for pricing
      86,324 SF

      Irby Street Retail Opportunity

      High-traffic retail space available
      1611 Irby St, Florence, SC 29505
      View Details
    • $26 SF/Yr
      3,600 SF

      Prime Florence Office Space

      Class A Office, 1,800 SF Available
      609 2Nd Loop Rd, Florence, SC 29505
      View Details

    Property Visit Statistics

    • Visits by month
      19.1k
    • Visitors by month
      13.3k
    • Avg Time on site
      11 min
    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.
    1601 Irby St
    Florence, SC 29505-3411
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.