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

    889 Folly Rd Charleston, SC 29412-3454

    • Commercial land
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2023
    $960,000
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1261835
    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 land

    Property Details for 889 Folly Rd

    Lot size
    0.53 lot acres
    Property type
    Commercial land
    APN
    425-02-00-195
    APU
    4250200195

    Description

    This exceptional 1.7 million dollar commercial land parcel presents a rare development opportunity in the thriving heart of James Island, Charleston, South Carolina. Located at 889 Folly Road, near the Camp Road intersection, this build-ready lot boasts high visibility and significant traffic flow, making it ideal for a variety of commercial uses. The property is zoned for commercial development, including QSR/Fast Food and shopping center uses. Importantly, all necessary architectural drawings and permits are already secured, significantly streamlining the development process. A key advantage is the pre-approved special exemption for a drive-thru, a highly desirable feature for many fast-food and quick-service restaurants. This significantly reduces development hurdles and accelerates the timeline to opening. The property's prime location on Folly Road in Charleston County, SC, zip code 29412 (latitude 32.7350425, longitude -79.9687319), ensures strong potential for high returns on investment. This is a turnkey opportunity for developers seeking a fast-track project with minimal upfront planning and permitting delays. Don't miss this chance to capitalize on the burgeoning commercial landscape of James Island. Contact us today to learn more about this exceptional property and begin planning your next venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,090,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9688
    Latitude
    32.7351
    CBSA code
    16700
    CBSA name
    CHARLESTON-NORTH CHARLESTON, 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
    $11,221
    $0.00
    $0.00
    $39,320
    -
    $581,250
    $74,000
    $655,250

    Comparable in this City

    • Value Estimation by Request
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      Folly Rd

      VACANT COMMERCIAL LAND • 0.10 Acres
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      0.29 Acres

      2101 Folly Rd

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      VACANT COMMERCIAL LAND • 0.23 Acres
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      0.14 Acres

      Maybank Hwy

      VACANT COMMERCIAL LAND • 0.14 Acres
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      1.00 Acre

      298 Folly Rd

      VACANT COMMERCIAL LAND • 1.00 Acre
      298 Folly Rd, Charleston, SC 29412-2554
      View Details

    Similar Nearby for Sale

    • $397,000

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    Similar Nearby for Lease

    • $75,000

      Prime Land Lease Opportunity

      Land for lease on high-traffic thoroughfare near Chase Bank.
      890 Folly Road Blvd, Charleston, SC 29412
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    • $6,250 /Mo

      Charleston Commercial Land Ground Lease

      ±1.65 acre commercial land for ground lease in Charleston.
      890 Folly Rd, Charleston, SC 29412
      View Details
    • Contact for pricing

      Charleston Commercial Land For Rent

      Approximately 1 acre of commercial land available for rent.
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      View Details
    • $38 SF/Yr
      90,993 SF

      James Island Retail Space Available

      High-traffic retail space in Charleston, SC.
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    • Contact for pricing
      39,730 SF

      Island plaza

      Retail properties • 39,730 SF
      1291 Folly Rd, Charleston, SC 29412
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    • $26 SF/Yr
      640 SF

      Retail Space on Folly Road

      Retail space for lease in a high-traffic shopping center.
      915 Folly Rd, Charleston, SC 29412
      View Details
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    889 Folly Rd
    Charleston, SC 29412-3454
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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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