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    601 Main St Lancaster, SC 29720-2137
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    Property profile & analytics

    601 Main St, Lancaster, SC 29720-2137

    View on Map
    • Office Spaces
    • 11,832 SF
    • 2.95 lot acres
    Off-Market
    Property ID
    US77-2147949
    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
    $995,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Arras Foundation / Charitable Organization

    Property Details for 601 Main St

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.95 lot acres
    Zone code
    CITY
    Property type
    Office Spaces
    APN
    0068I-0D-004.00
    APU
    0068I0D00400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 29, 2019 $7,500 J Marion Sims Foundation INC County Of Lancaster Grant Deed —
    Dec 11, 2018 $954,000 J Marion Sims Foundation INC Springland Associates LLC Quit Claim Deed · related —
    Dec 11, 2018 $300,000 J Marion Sims Foundation INC Springland INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,004,000
      Market price range: $682k - $1.55M
      AI Estimate
      $983,000
      Market price range: $458k - $1.57M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,005,000
      Current use
      RETAIL STORES
      $860,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    South Carolina
    Longitude
    -80.7732
    Latitude
    34.7266
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $444,100
    $929,700
    $1,373,800

    Comparable in this City

    • Value Estimation
      $615,000
      4,657 SF

      800 White St

      OFFICE (GENERAL)
      800 White St, Lancaster, SC 29720-2177
      View Details
    • Value Estimation by Request
      1,150 SF

      811 Chesterfield Ave

      OFFICE (GENERAL)
      811 Chesterfield Ave, Lancaster, SC 29720-3515
      View Details
    • Value Estimation by Request
      924 SF

      1954 Flt Crk Rd

      OFFICE (GENERAL)
      1954 Flt Crk Rd, Lancaster, SC 29720-7647
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    • Value Estimation by Request
      1,568 SF

      1444 Hwy 9th W Byp

      OFFICE (GENERAL)
      1444 Hwy 9th W Byp, Lancaster, SC 29720-4714
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    • Value Estimation
      $2,955,000
      35,177 SF

      229 Craig Mnr Rd

      OFFICE (GENERAL)
      229 Craig Mnr Rd, Lancaster, SC 29720
      View Details
    • Value Estimation
      $800,000
      9,502 SF

      201 Gay St

      OFFICE (GENERAL)
      201 Gay St, Lancaster, SC 29720-2423
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,248 SF

      Commercial Property for Sale

      Commercial property suitable for office, retail, or salon.
      2836 Lynwood Dr, Lancaster, SC 29720
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    • $975,000
      0.82 Acres

      Two Professional Buildings Near MUSC

      Two professional office buildings near MUSC in Lancaster, South Carolina.
      1201 Colonial Cmns Ct, Lancaster, SC 29720
      View Details
    • $139,999
      0.12 Acres

      Lancaster Commercial Building For Sale

      Commercial building in growing area with business or investment potential.
      401 E Gay St, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Medical Office Buildings Near MUSC

      Two professional buildings suitable for medical or office use.
      1201 Colonial Commons Ct, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Versatile Commercial Building in Lancaster

      Two-story commercial building with offices in downtown Lancaster, SC.
      302 N White St, Lancaster, SC 29720
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo

      Main Street Commercial Space Available

      Versatile commercial space in downtown Lancaster with high visibility.
      120 S Main St, Lancaster, SC 29720
      View Details
    • Contact for pricing

      114 E Gay St, Lancaster, SC 29720

      Retail space
      114 E Gay St, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Retail Space Near Major Intersection

      Retail property located near a highly trafficked intersection.
      100 Monroe Hwy, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Retail Space in Lancaster, SC

      Retail spaces available in Walmart-anchored community center.
      905-933 Highway 9 Byp W, Lancaster, SC 29720
      View Details
    • Contact for pricing

      Retail Space in Lancaster Center

      Retail spaces available in Walmart-anchored community center.
      945-973 Highway 9 Byp W, Lancaster, SC 29720
      View Details
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    Lancaster, SC 29720-2137
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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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