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603 W Palmetto St, Florence, SC 29501
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Property summary
AI-generated overview
This 2,004 square foot commercial building in Florence, South Carolina, is situated on a 0.26-acre lot and is offered at $262,500. Ideal for a variety of professional uses, including medical practices, legal offices, or light retail, this property boasts wood flooring throughout (except vinyl in bathrooms), a spacious reception area, five offices (one with built-in shelving and desk), and three half-baths. A convenient kitchen area is perfect for staff breaks, and a 10x20 wired workshop provides ample storage. The building has been well-maintained, featuring a roof approximately 7 years old and an HVAC system updated roughly 10 years ago. Previously used as a frame shop and attorney's office, this property benefits from its location in a high-traffic area. The property is being sold "as is." The address is 603 W Palmetto Street, Florence, SC 29501-4301.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Total area
2,004 SF
Lot
0.26 ac (11,250 SF)
Zoning code
B1
APN
90062-06-012
UPID
US77-1241574
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Home Decor Store
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$190k
Owner & transaction history
since 2025
Last sale
$225,000
1 recorded transaction
Zoning & alternative use
B1 · Florence, SC
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$190k
Value range
$171k – $209k
±10% around blend
Estimated value / SF
$95 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$171k
blend $190k
$209k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,004 SF
Lot area
0.26 ac
Year built
1940
APN
90062-06-012
Zoning
B1
Assessed value
$4,930
Annual tax
$2,641
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$2,641
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$250k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.5 mi away · 1,430 SF
1.1 mi away · 2,020 SF
22.2 mi away · 1,680 SF
23.0 mi away · 2,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$190k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 53 sales
$106
-10%
Submarket 66 sales
$113
-16%
County 85 sales
$103
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $95/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
6.02%
Selected cap rate for this office buildings
Derived from the Florence market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.02%
9.0%
NOI (est.)
$16k *
Last sale · May 2025
$225k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$263k
Move the market yield to see immediate price impact.
Value / SF
$131
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.52%6.02%6.52%
$14k
$258k
$236k
$218k
$16k
$286k
$263k
$243k
$17k
$315k
$289k
$267k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$285k
0.3 mi · Oct 2025 · $138/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,641
Tax year 2023
Assessed value
$4,930
Assessed 2023
Previous assessed
$4,930,231
-99.9% YoY
Effective rate
53.57%
On assessed value
Assessed land
$1,125
Assessed improvement
$3,805
Land market value
$28,125
Improvement market value
$95,131
Total market value
$123,256
Applied tax rate
110.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1940
Heating
NONE
Total area
2,004 SF
Lot
0.26 ac (11,250 SF)
Zoning code
B1
APN
90062-06-012
UPID
US77-1241574
Jurisdiction
FLORENCE
Zoning & alternative use
B1 · Florence, SCZoning B1 · permitted uses
B1 · Florence, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Lot
0.26 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B1
Jurisdiction
Florence, SC
Recorded code
B1
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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