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

    608 Koon Rd Irmo, SC 29063

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1949567
    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

    • Commercial real estate

    Property Details for 608 Koon Rd

    Property type
    Commercial real estate

    Description

    This exceptional 2.7+/- acre parcel presents a unique opportunity for investors and developers. Situated in Irmo, South Carolina, at 608 Koon Rd, zip code 29063, this property boasts convenient access to Interstate 26, ensuring seamless connectivity to the wider region. The land is zoned HM and features the APN R033000-06-12. Its classification as both Agricultural and Commercial land opens doors to a variety of potential uses. The property is served by public water and septic systems, eliminating the need for costly infrastructure development. Located within a thriving business district, the area offers easy access to a multitude of amenities, including retail centers, further enhancing its appeal. This prime location makes it an ideal site for various business ventures or large-scale development projects, promising significant returns on investment. The property's size and strategic location make it a highly sought-after asset in a rapidly growing area. Don't miss this chance to acquire a piece of Irmo's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Irmo
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.202543
    Latitude
    34.119681

    Comparable in this City

    • $5,400 /Mo

      Land For Rent Irmo

      Land available for rent in Irmo, South Carolina.
      614 Koon Rd, Irmo, SC 29063
      View Details
    • Contact for pricing

      Irmo Commercial Land For Rent

      Commercial land available for rent in Irmo, South Carolina.
      Irmo, Irmo, SC 29063
      View Details
    • Contact for pricing

      Available Land Near Dutch Fork

      5.21 AC available for ground lease or build-to-suit.
      1784 Dutch Fork Rd, Irmo, SC 29063
      View Details
    • $17 SF/Yr
      11,000 SF

      Irmo Retail Center - For Lease

      Prime Irmo location, multiple suites available.
      7949 Broad River Rd, Irmo, SC 29063
      View Details
    • $2,500 /Mo
      1,200 SF

      Irmo Office Space For Rent

      Office space for rent in Irmo, SC with versatile layout.
      1036 Kinley Rd, Irmo, SC 29063
      View Details
    • $10 SF/Yr
      3,000 SF

      Irmo Flex Space: 3,000 SF Available

      Single-tenant industrial flex space in Irmo, SC.
      7120 Broad River Rd, Irmo, SC 29063
      View Details

    Similar Nearby for Sale

    • $1,800,000
      5.70 Acres

      Lake Murray Blvd Commercial Land

      5.7 Acres, Irmo, SC - Prime Location
      0 Lake Murray Blvd, Irmo, SC 29063
      View Details
    • $2,440,000
      9.45 Acres

      Irmo, SC Development Land

      9.45 Acres, Prime Commercial Site
      0 Columbiana Dr, Irmo, SC 29063
      View Details
    • $1,800,000

      5.7 Acres on Lake Murray

      5.7 acres of commercial land for sale.
      S Lake Murray Blvd, Irmo, SC 29063
      View Details
    • $150,000

      Land Parcels for Commercial Use

      Commercial land parcels suitable for office, retail, storage, or warehouse.
      8030 Broad River Rd, Irmo, SC 29063
      View Details
    • $520,000
      26.00 Acres

      Irmo Land for Development

      26 acres of land suitable for development in Irmo.
      E/S Farming Creek Rd, Irmo, SC 29063
      View Details
    • $35,000
      1.00 Acre

      Irmo Acreage with Access Easement

      One-acre lot in Irmo, SC, requires well and septic.
      1109 Hopewell Church Rd, Irmo, SC 29063
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Available Land Near Dutch Fork

      5.21 AC available for ground lease or build-to-suit.
      1784 Dutch Fork Rd, Irmo, SC 29063
      View Details
    • $5,400 /Mo

      Land For Rent Irmo

      Land available for rent in Irmo, South Carolina.
      614 Koon Rd, Irmo, SC 29063
      View Details
    • Contact for pricing

      Irmo Commercial Land For Rent

      Commercial land available for rent in Irmo, South Carolina.
      Irmo, Irmo, SC 29063
      View Details
    • $17 SF/Yr
      11,000 SF

      Irmo Retail Center - For Lease

      Prime Irmo location, multiple suites available.
      7949 Broad River Rd, Irmo, SC 29063
      View Details
    • $2,500 /Mo
      1,200 SF

      Irmo Office Space For Rent

      Office space for rent in Irmo, SC with versatile layout.
      1036 Kinley Rd, Irmo, SC 29063
      View Details
    • $10 SF/Yr
      3,000 SF

      Irmo Flex Space: 3,000 SF Available

      Single-tenant industrial flex space in Irmo, SC.
      7120 Broad River Rd, Irmo, SC 29063
      View Details
    Request Owner's contact information
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    608 Koon Rd
    Irmo, SC 29063
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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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