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    308 Vallenga Rd Elgin, SC 29045
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    Property profile & analytics

    308 Vallenga Rd, Elgin, SC 29045

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    • Commercial real estate
    • 1.22 lot acres
    Off-Market
    Property ID
    US77-1036172
    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

    • Commercial real estate

    Property Details for 308 Vallenga Rd

    Lot size
    1.22 lot acres
    Property type
    Commercial real estate
    APN
    R290040301

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 6, 2025 $90,000 Abhi Investments LLC Pamela Jean Layton Warranty Deed —
    Mar 23, 2021 — Pamela Jean Layton Carolyn B Peake Quitclaim Deed · related —

    Description

    This exceptional 1.22-acre commercial lot is strategically located at the hard corner of Two Notch Road and Vallenga Road in Elgin, South Carolina. Boasting 250 linear feet of road frontage on Two Notch Road, this property enjoys high daily traffic counts, making it perfect for a variety of commercial ventures. The lot is zoned RU (Richland County) and all utilities are readily available at or near the site. Its prime location offers easy access to key areas: less than 20 minutes to downtown Columbia, 10 minutes to the thriving Elgin community, and approximately 25 minutes to Camden. This presents a unique opportunity for businesses seeking high visibility and convenient access to a growing market. The property's size and zoning make it suitable for a wide range of commercial uses, providing significant potential for investors and entrepreneurs. The APN is R290040301. This is a rare opportunity to acquire a well-positioned commercial lot in a rapidly developing area of Richland County. Don't miss out on this exceptional investment prospect. The asking price is $99,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Richland
    State
    South Carolina
    Longitude
    -80.831711997133
    Latitude
    34.145712367818

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    Similar Nearby for Sale

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      Development Site in Woodcreek Area

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      Corner Lot in Elgin, SC

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    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease or Build-to-Suit

      Approximately 2.8 acres available for ground lease or build-to-suit.
      10526 Two Notch Rd, Elgin, SC 29045
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      0.72 Acre Development Land

      0.72 acre development land available for ground lease.
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      Land Near Interstate I-20

      Land available for rent, conveniently located near I-20.
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      Elgin Commercial Land for Rent

      Approximately 2.96 acres of commercial land available for rent.
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      Office/Retail/Restaurant Spaces For Rent

      Office, retail, and restaurant spaces available in growing commercial corridor.
      566 Spears Creek Church Rd, Elgin, SC 29045
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      Retail Space in New Development

      Retail space available in a new Publix-anchored development.
      Columbia, Elgin, SC 29045
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    Elgin, SC 29045
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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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