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

    2351 Len Patterson Rd Fort Mill, SC 29708

    • Commercial real estate
    • 36,359 SF
    • 4.43 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2629955
    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

    • QT Nail Bar / Hair Salon / Nail Salon
    • Earth Fare / Specialty Food Shop
    • Pet Supplies Plus Fort Mill / (Bike/Boat/Book/etc) Store / Pet Store
    • i.d. SPOT / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • PPG Paint Store / Hardware & Home Improvement / Building Supply

    Property Details for 2351 Len Patterson Rd

    Year built
    2018
    Lot size
    4.43 lot acres
    Property size
    36,359 SF
    Property type
    Commercial real estate
    APN
    652-00-00-121
    APU
    6520000121

    Description

    Mills Crossing, a thriving retail center in Fort Mill, South Carolina, offers exceptional opportunities for businesses seeking high-growth potential. This multi-tenant shopping center boasts a total of 48,102 square feet, with available spaces ranging from 1,500 to 2,500 square feet. Located in one of Charlotte's fastest-growing suburbs, Mills Crossing benefits from strong demographics, including an average household income exceeding $108,000 within a five-mile radius. Projected population growth of 4.26% annually over the next five years ensures a consistently expanding customer base. The center's strategic location off SC-160 provides convenient access, less than 20 minutes from Downtown Charlotte. Its proximity to Kingsley, a master-planned community housing major employers like LPL Financial (2,100 employees) and Lash Group (1,200 employees), as well as a Courtyard Marriott, guarantees a substantial pool of potential customers. Furthermore, Mills Crossing enjoys a prime location alongside established retailers such as Harris Teeter, Walmart Supercenter, Walgreens, and Lowe's Home Improvement, creating a synergistic retail environment. This presents a unique chance to establish a presence in a vibrant and rapidly developing area with significant long-term growth prospects. The minimum leasable space is 1,500 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,200,000
      6.5%
      $4,800,000
      7%
      $4,455,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,118,000
      Market price range: $981k - $7.14M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Mill
    County
    York
    State
    South Carolina
    Longitude
    -80.9845
    Latitude
    35.0407
    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
    $188,487
    $159,480
    $245,782
    $405,262
    -
    $2,658,000
    $4,096,373
    $6,754,373

    Comparable in this City

    • Value Estimation
      $745,000
      7,500 SF

      1544 Sam Smith Rd

      COMMERCIAL (GENERAL) • 7,500 SF
      1544 Sam Smith Rd, Fort Mill, SC 29708-9475
      View Details
    • Value Estimation
      $1,215,000
      9,985 SF

      2879 Hwy 160th W

      COMMERCIAL (GENERAL) • 9,985 SF
      2879 Hwy 160th W, Fort Mill, SC 29708-8646
      View Details
    • Value Estimation
      $3,075,000
      34,384 SF

      3540 Lakemont Blvd

      COMMERCIAL (GENERAL) • 34,384 SF
      3540 Lakemont Blvd, Fort Mill, SC 29708-6204
      View Details
    • Value Estimation by Request
      2,214 SF

      Fort

      COMMERCIAL (GENERAL) • 2,214 SF
      Fort, Mill, SC 29708
      View Details
    • Value Estimation by Request
      2,139 SF

      Fort

      COMMERCIAL (GENERAL) • 2,139 SF
      Fort, Mill, SC 29708
      View Details
    • Value Estimation
      $570,000
      5,313 SF

      1690 Hwy 160th Wa

      COMMERCIAL (GENERAL) • 5,313 SF
      1690 Hwy 160th Wa, Fort Mill, SC 29708-8024
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fort Mill Commercial Land Opportunity

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      View Details
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      Land on Gold Hill Road

      One acre of land in Fort Mill, South Carolina.
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      Lakemont Business Park Industrial Building

      21,072 SF industrial building in Fort Mill, SC.
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      Commercial Land Near I-77

      Commercial land in a high-traffic area near shopping and dining.
      2862 Pleasant Rd, Fort Mill, SC 29708
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    • $375,000
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      Waterfront Lot in Tega Cay

      0.52-acre waterfront lot with private dock in Tega Cay.
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      0.30 Acres

      Waterfront Homesite in Tega Cay

      Dockable waterfront homesite in Tega Cay with no HOA fees.
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    Similar Nearby for Lease

    • Contact for pricing
      48,102 SF

      Mills Crossing Retail Center

      Fort Mill, SC Shopping Center - Spaces Available
      2351 Len Patterson Rd, Fort Mill, SC 29708
      View Details
    • Contact for pricing
      40,000 SF

      Fort Mill Office Space For Lease

      Flexible Suites, 28 Units Available
      1974 Carolina Place Dr, Fort Mill, SC 29708
      View Details
    • $2,600 /Mo
      900 SF

      Turnkey Office Space For Rent

      900 SF turnkey office space available on Highway 160.
      100 Stone Village Dr, Fort Mill, SC 29708
      View Details
    • $25 SF/Yr
      1,250 SF

      Office Space For Rent

      Office space available for lease in Fort Mill, SC.
      856 Gold Hill Rd, Fort Mill, SC 29708
      View Details
    • Contact for pricing
      2,158 SF

      Professional-Flex Property with Roll-Up Door

      61,000 SF professional-flex property with convenient parking.
      377 Rubin Center Dr, Fort Mill, SC 29708
      View Details
    • $35 SF/Yr
      1,200 SF

      Retail Space on Hwy 160

      Retail space for rent with high traffic volume.
      1504 Carolina Place Dr, Fort Mill, SC 29708
      View Details
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    2351 Len Patterson Rd
    Fort Mill, SC 29708
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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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