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    Florence, SC 29505
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    Property profile & analytics

    Florence, SC 29505

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    • Medical Office Space
    • 51,053 SF
    • 49.89 lot acres
    Off-Market
    Property ID
    US77-1851538
    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.
    Value Estimations
    $1,430,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details

    Year built
    1992
    Lot size
    49.89 lot acres
    Property size
    51,053 SF
    Zone code
    B3
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    00179-01-040
    APU
    17901040

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,430,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,745,000
      Change: +22% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,640,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,600,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $1,550,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7527
    Latitude
    34.1601
    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
    $173,282
    $245,553
    $418,835
    -
    $4,332,042
    $6,138,817
    $10,470,859

    Comparable in this City

    • Value Estimation by Request
      4,034 SF

      680 Senior Way

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      6,262 SF

      2501 Vance Dr

      MEDICAL BUILDING • 6,262 SF
      2501 Vance Dr, Florence, SC 29505-6163
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    • Value Estimation by Request
      4,002 SF

      1423 Alice Dr

      MEDICAL BUILDING • 4,002 SF
      1423 Alice Dr, Florence, SC 29505-2660
      View Details
    • Value Estimation by Request
      6,768 SF

      1465 Pamplico Hwy

      MEDICAL BUILDING • 6,768 SF
      1465 Pamplico Hwy, Florence, SC 29505-6173
      View Details
    • Value Estimation
      $3,190,000
      5,996 SF

      2200 Irby St

      MEDICAL BUILDING • 5,996 SF
      2200 Irby St, Florence, SC 29505-3423
      View Details
    • Value Estimation
      $710,000
      3,562 SF

      1498 Freedom Blvd

      MEDICAL BUILDING • 3,562 SF
      1498 Freedom Blvd, Florence, SC 29505-6077
      View Details

    Similar Nearby for Sale

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      7,950 SF

      Medical Office Building Near MUSC

      Medical office building near MUSC campus with ample parking.
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      0.82 Acres

      Florence Land with Updated Survey

      Residential land available in Florence, South Carolina with updated survey.
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      Prime Development Site For Sale

      7.21-acre development site on Second Loop Road, Florence, SC.
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      View Details
    • Contact for pricing
      4,740 SF

      Mixed-Use Investment Property

      4740 SF mixed-use property with three rental units.
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      View Details
    • $187,500
      10.54 Acres

      South Florence Wooded Acreage Opportunity

      10.5-acre wooded tract in South Florence with development potential.
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    Similar Nearby for Lease

    • Contact for pricing

      New Office Space Available

      Shell space in a new building, build-out to suit.
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      Retail Space at Claussen Shops

      Grocery-anchored retail space for lease with ample parking.
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      View Details
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      Renovated Retail Space on US-52

      Anchor suite in renovated shopping center with high visibility.
      1611 S Irby St, Florence, SC 29505
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      Retail Outparcel in High-Traffic Area

      Outparcel for ground lease or build-to-suit in Florence, SC.
      500 2Nd Loop Rd, Florence, SC 29505
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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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