Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    700 Irby St, Unit 702 Florence, SC 29501-5214

    • Individual retail properties
    • 4,021 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Mar 27, 2024
    $230,000
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2372093
    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

    • Lee M Studios / Photographer
    • Styled by Jess (The Beauty Bar) / Beauty Salon / Beautician

    Property Details for 700 Irby St

    Year built
    1953
    Lot size
    0.28 lot acres
    Property size
    4,021 SF
    Zone code
    B3
    Property type
    Individual retail properties
    APN
    90089-02-017
    APU
    9008902017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7669
    Latitude
    34.186
    CBSA code
    22500
    CBSA name
    FLORENCE, 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
    $2,483
    $2,400
    $2,242
    $4,642
    -
    $60,000
    $56,046
    $116,046

    Comparable in this City

    • Value Estimation by Request
      1,872 SF

      3505 Pne Needles Rd

      DRY CLEANER • 1,872 SF
      3505 Pne Needles Rd, Florence, SC 29501
      View Details
    • Value Estimation by Request
      1,830 SF

      1012 Evans St

      LAUNDROMAT (SELF-SERVICE) • 1,830 SF
      1012 Evans St, Florence, SC 29501-3318
      View Details
    • Value Estimation by Request
      2,250 SF

      310 Irby St

      DRY CLEANER • 2,250 SF
      310 Irby St, Florence, SC 29501-2808
      View Details
    • Value Estimation by Request
      5,448 SF

      130 Cashua Dr

      LAUNDROMAT (SELF-SERVICE) • 5,448 SF
      130 Cashua Dr, Florence, SC 29501-4002
      View Details
    • Value Estimation by Request
      864 SF

      809 Ivy Ln

      BARBER, HAIR SALON • 864 SF
      809 Ivy Ln, Florence, SC 29501-5913
      View Details
    • Value Estimation by Request
      3,990 SF

      1700 2nd Loop Rd

      DRY CLEANER • 3,990 SF
      1700 2nd Loop Rd, Florence, SC 29501-6119
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,000 SF

      Retail Property Near Major Intersections

      Retail property with high visibility and easy access.
      2640 W Palmetto St, Florence, SC 29501
      View Details
    • $4,750,000
      14,500 SF

      Walgreens Investment Opportunity

      NNN Leased Walgreens in Florence, SC
      2498 2nd Loop Rd, Florence, SC 29501
      View Details
    • $1,389,000
      4,160 SF

      Retail Property in Prime Location

      Single-tenant net-leased The Vitamin Shoppe in Florence, SC.
      2590 David H Mcleod Blvd, Florence, SC 29501
      View Details
    • $4,092,000
      17,174 SF

      Florence, SC Medical Facility

      Corporate-leased medical building, high NOI.
      1933 2Nd Loop Rd, Florence, SC 29501
      View Details
    • Contact for pricing
      2,202 SF

      Wendy’s Restaurant in Florence, SC

      Wendy’s restaurant for sale on high-traffic retail corridor.
      624 S Irby St, Florence, SC 29501
      View Details
    • Contact for pricing
      2,058 SF

      Wendy's Restaurant For Sale

      Wendy’s in Florence, South Carolina, leased for 20 years.
      4010 E Palmetto St, Florence, SC 29501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Retail Space in Florence, SC

      8,000 SF retail space available for lease.
      2600 David H Mcleod Blvd, Florence, SC 29501
      View Details
    • $22 SF/Yr
      4,475 SF

      Retail Space in Regional Destination

      Retail spaces available in premier shopping destination near major highways.
      110 Woody Jones Blvd, Florence, SC 29501
      View Details
    • $22 SF/Yr
      2,800 SF

      Retail Space in Regional Destination

      Retail space available in premier shopping center, built in 2015.
      112-120 Woody Jones Blvd, Florence, SC 29501
      View Details
    • $90 SF/Yr
      36,360 SF

      West End District Warehouse

      36,360 SF Warehouse, Prime Location
      2295 Hoffmeyer Rd, Florence, SC 29501
      View Details
    • $7,680 /Mo
      4,190 SF

      Restaurant Space Near I-95

      Restaurant space for lease with high visibility and traffic.
      3751 W Palmetto St, Florence, SC 29501
      View Details
    • $5,000 /Mo
      11,390 SF

      Versatile Commercial Space in Florence

      Commercial property with bay doors, ideal for automotive or warehouse.
      374 Darlington St, Florence, SC 29501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 Irby St, Unit 702
    Florence, SC 29501-5214
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.