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    1811 Irby St Florence, SC 29505
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    Property profile & analytics

    1811 Irby St, Florence, SC 29505

    View on Map
    • Outlet malls
    • 22,041 SF
    • 0.97 lot acres
    For Sale
    $2,000
    View Listing →
    Florence Commercial Space - Irby St. For Sale
    $2,000

    Florence Commercial Space - Irby St.

    High-traffic location, 2000 sq ft office.

    1811 Irby St, Florence, SC 29505
    View Listing
    Property ID
    US77-0585795
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kids Corner Early Learning Academy, LLC / High School / Daycare Center
    • Direct Auto Insurance / Insurance Agency
    • All N1 Wellness & Fitness / Gym & Fitness Center
    • Carolina Pines Realty, Inc - Florence SC / Real Estate Agency
    • Foster Care Clothing Closet / Charitable Organization / Social Service Agency

    Property Details for 1811 Irby St

    Year built
    1998
    Lot size
    0.97 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    90081-01-031
    APU
    9008101031

    Description

    This 2,000 square foot commercial unit is ideally situated on South Irby Street in Florence, South Carolina, boasting a prime location near Aldi and Walmart. The property benefits from exceptional visibility and accessibility, with a recently repaved parking lot ensuring easy ingress and egress. A 2019 South Carolina Highway Department traffic count recorded an average of 22,000 vehicles per day on this stretch of Irby Street, highlighting the significant foot and vehicle traffic potential for businesses operating from this location. The unit itself comprises 2,000 square feet of usable space, including two bathrooms, a dedicated office area, and additional versatile space adaptable to various business needs. Its strategic placement is further enhanced by its proximity to a large apartment complex and the YMCA, guaranteeing a substantial and diverse customer base. The 0.05-acre lot provides ample parking and convenient access. This property presents a compelling opportunity for small businesses seeking a high-visibility location with strong traffic flow and convenient amenities. The combination of high traffic counts, nearby retail giants, and residential proximity makes this a truly exceptional commercial opportunity. Don't miss out on this chance to establish your business in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,121,000
      Market price range: $900k - $2.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,515,000
      Current use
      AUTO REPAIR, GARAGE
      $1,365,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7676
    Latitude
    34.1589
    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
    $17,804
    $10,307
    $22,962
    $33,269
    -
    $257,678
    $574,046
    $831,724

    Comparable in this City

    • Value Estimation by Request
      12,920 SF

      1409 Pamplico Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      1409 Pamplico Hwy, Florence, SC 29505-6142
      View Details
    • Value Estimation
      $1,370,000
      59,304 SF

      218 2nd Loop Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      218 2nd Loop Rd, Florence, SC 29505-2810
      View Details
    • Value Estimation by Request
      5,040 SF

      2000 Irby St

      WHOLESALE OUTLET, DISCOUNT STORE
      2000 Irby St, Florence, SC 29505-3420
      View Details
    • Value Estimation by Request
      5,759 SF

      Florence, SC 29505

      WHOLESALE OUTLET, DISCOUNT STORE
      Florence, SC 29505
      View Details
    • Value Estimation by Request
      1,120 SF

      Irby St At Freedom Blvd

      WHOLESALE OUTLET, DISCOUNT STORE
      Irby St At Freedom Blvd, Florence, SC 29505
      View Details
    • Value Estimation by Request
      2,000 SF

      1405 Church St

      WHOLESALE OUTLET, DISCOUNT STORE
      1405 Church St, Florence, SC 29505-6003
      View Details

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      Mixed-Use Investment Property

      4740 SF mixed-use property with three rental units.
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      Commercial Outparcels on Freedom Boulevard

      Available outparcels on Freedom Boulevard with high traffic count.
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    Similar Nearby for Lease

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      Restaurant Space with Drive-Thru

      2,700 SF restaurant space with existing drive-thru.
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    View Listing
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    Florence, SC 29505
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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.

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