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    Property profile & analytics

    Florence, SC 29501

    • Medical Office Space
    • 24,581 SF
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2488735
    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

    • Medical Office Space

    Property Details

    Year built
    2011
    Property size
    24,581 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    00123-01-150
    APU
    12301150

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $705,000
      Current use
      INDUSTRIAL (GENERAL)
      $890,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $850,000
      Change: +21% Conversion: Difficult
      WAREHOUSE, STORAGE
      $830,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $830,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.8206
    Latitude
    34.1861
    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
    $0.00
    $0.00
    $124,579
    $124,579
    -
    $0.00
    $3,114,476
    $3,114,476

    Comparable in this City

    • Value Estimation by Request
      2,720 SF

      461 Palmetto St

      MEDICAL BUILDING • 2,720 SF
      461 Palmetto St, Florence, SC 29501-4424
      View Details
    • Value Estimation by Request
      9,602 SF

      501 Coit St

      MEDICAL BUILDING • 9,602 SF
      501 Coit St, Florence, SC 29501-5220
      View Details
    • Value Estimation
      $2,415,000
      4,118 SF

      2410 Hoffmeyer Rd

      MEDICAL BUILDING • 4,118 SF
      2410 Hoffmeyer Rd, Florence, SC 29501-7311
      View Details
    • Value Estimation by Request
      1,470 SF

      316 Mcqueen St

      MEDICAL BUILDING • 1,470 SF
      316 Mcqueen St, Florence, SC 29501-4723
      View Details
    • Value Estimation
      $540,000
      19,068 SF

      367 Evans St

      MEDICAL BUILDING • 19,068 SF
      367 Evans St, Florence, SC 29501-3429
      View Details
    • Value Estimation by Request
      7,517 SF

      1706 2nd Loop Rd

      MEDICAL BUILDING • 7,517 SF
      1706 2nd Loop Rd, Florence, SC 29501-6119
      View Details

    Similar Nearby for Sale

    • $1,350,000
      12,411 SF

      Historic Downtown Florence Medical Office

      12,411 SF Medical Office Building, $1.35M
      329 Irby St, Florence, SC 29501
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    • $285,000
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      Florence Office Building - $285K

      1,829 SF Office, High Traffic Area
      2400 2Nd Loop Rd, Florence, SC 29501
      View Details
    • $1,500,000
      7,517 SF

      Florence Office Building For Sale

      Office building with 7,517 square feet of space in Florence.
      1706 2Nd Loop Rd, Florence, SC 29501
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    • $199,000
      40,000 SF

      Industrial Buildings with Power & Access

      Two industrial buildings ideal for fabrication, automotive, or storage.
      120 N Guerry St, Florence, SC 29501
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    • $2,800,000

      Historic Mixed-Use Building in Florence

      16,000 sq ft historic building in Downtown Florence for sale.
      248 W Evans St, Florence, SC 29501
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    • $79,000
      1,200 SF

      Florence Commercial Building on Evans

      Standalone building on Evans Street with redevelopment potential.
      617 W Evans St, Florence, SC 29501
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    Similar Nearby for Lease

    • $25 SF/Yr
      7,748 SF

      Downtown Florence Mixed-Use Gem

      Historic District, prime location, flexible space.
      127 Evans St, Florence, SC 29501
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    • Contact for pricing
      16,800 SF

      Florence County Executive Office Space

      Modern Flex Space, 10,500 SF Available
      2315 Prosperity Way, 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
    • $226 SF/Yr
      1,400 SF

      Downtown Florence Office Suite A

      1400 sq ft Executive Office Space for Lease
      620 Evans St, Florence, SC 29501
      View Details
    • Contact for pricing
      329,345 SF

      Florence Mall Retail Space

      Prime Florence, SC retail center
      1945 Palmetto St, Florence, SC 29501
      View Details
    • $14 SF/Yr
      3,800 SF

      Five Points Office Building, Florence SC

      Prime Florence Office Space: 3,800 sq ft, Multiple Suites
      1803 Cherokee Rd, Florence, SC 29501
      View Details
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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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