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

    1662 Macmillan Park Dr Indian Land, SC 29707-7654

    • Office Properties & Spaces
    • 22,204 SF
    • 7.29 lot acres
    OFF-MARKET
    Last Sale
    Jul 25, 2023
    $3,250,000
    Value Estimations
    $3,155,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1998936
    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

    • Office Properties & Spaces

    Property Details for 1662 Macmillan Park Dr

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    7.29 lot acres
    Property size
    22,204 SF
    Zone code
    LI
    Property type
    Office Properties & Spaces
    APN
    0007-00-008.05
    APU
    70000805

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,970,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,025,000
      Market price range: $846k - $3.70M

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

    Location Insight

    • Map
    • Local Demand
    City
    Indian Land
    County
    Lancaster
    State
    South Carolina
    Longitude
    -80.8841
    Latitude
    34.9999
    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
    $4,830
    $0.00
    $0.00
    $0.00
    -
    $544,500
    $3,958,800
    $4,503,300

    Comparable in this City

    • Value Estimation by Request
      8,000 SF

      2567 Lengers Way

      OFFICE (GENERAL) • 8,000 SF
      2567 Lengers Way, Indian Land, SC 29707-7126
      View Details
    • Value Estimation by Request
      1,763 SF

      Northfield Dr

      OFFICE (GENERAL) • 1,763 SF
      Northfield Dr, Fort Mill, SC 29707
      View Details
    • Value Estimation
      $630,000
      12,000 SF

      9372 Old Bailes Rd

      OFFICE (GENERAL) • 12,000 SF
      9372 Old Bailes Rd, Indian Land, SC 29707-9109
      View Details
    • Value Estimation by Request
      3,189 SF

      7612 Charlotte Hwy

      OFFICE (GENERAL) • 3,189 SF
      7612 Charlotte Hwy, Indian Land, SC 29707-7098
      View Details
    • Value Estimation by Request
      1.00 Acre

      9425 Charlotte Hwy

      Lifestyle centers • 1,200 SF
      9425 Charlotte Hwy, Fort Mill, SC 29707
      View Details
    • Value Estimation by Request
      31,000 SF

      8488 Charlotte Hwy

      Medical offices • 31,000 SF
      8488 Charlotte Hwy, Fort Mill, SC 29707
      View Details

    Similar Nearby for Sale

    • $12,900,000
      92,926 SF

      Fort Mill Industrial Property

      92,926 SF Flex/Warehouse, $12.9M
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      View Details
    • Contact for pricing
      1.00 Acre

      The Point: Indian Land Retail

      High-traffic retail & commercial development.
      9425 Charlotte Hwy, Fort Mill, SC 29707
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    • $11,615,750
      92,926 SF

      Versatile Flex, Office, Warehouse Space

      92,926 SF flex, office, and warehouse space for sale.
      11632 Harrisburg Rd, Indian Land, SC 29707
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    • Contact for pricing
      3.94 Acres

      Charlotte Hwy Commercial Land

      Prime Indian Land development site.
      8937 Charlotte Hwy, Fort Mill, SC 29707
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    • Contact for pricing
      162,240 SF

      Highway 160 Warehouse Opportunity

      Warehouse/distribution property near I-485, Ballantyne, and south Charlotte.
      9485 Old Bailes Rd, Fort Mill, SC 29707
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    • $850,000

      One Acre Commercial Outparcel

      One acre commercial land for sale near Charlotte.
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    Similar Nearby for Lease

    • Contact for pricing
      12,500 SF

      ParkStone at Indian Land: Prime Retail Space

      High-profile retail & land, Indian Land.
      8004 Shelley Mullis Rd, Fort Mill, SC 29707
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      24,990 SF

      Rosemont Park Office Suites

      Fort Mill, SC Office Space Available
      1245 Rosemont Dr, Fort Mill, SC 29707
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    • Contact for pricing
      151,500 SF

      Fort Mill Office Space Available

      Class A Office Building, 3 Stories, Multiple Tenancies
      8106 Calvin Hall Rd, Fort Mill, SC 29707
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    • $28 SF/Yr
      2,820 SF

      Office Space in Fort Mill

      Office suites available in rapidly growing Lancaster County.
      1061 Red Ventures Dr, Fort Mill, SC 29707
      View Details
    • $30 SF/Yr
      28,000 SF

      Elite Edgewater Office Suites

      Modern Office Space, Flexible Sizes
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      View Details
    • Contact for pricing
      20,000 SF

      Fort Mill Office Space Available

      20000 SF office space for rent in Fort Mill.
      8563 Charlotte Hwy, Fort Mill, SC 29707
      View Details
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    Indian Land, SC 29707-7654
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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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