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

    Florence, SC 29506

    • Medical offices
    • 54,156 SF
    OFF-MARKET
    Value Estimations
    $1,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2403914
    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 offices

    Property Details

    Year built
    1986
    Property size
    54,156 SF
    Zone code
    B1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    90102-20-003
    APU
    9010220003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,195,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $852,000
      Market price range: $853k - $2.42M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,515,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,695,000
      Change: +12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Florence
    State
    South Carolina
    Longitude
    -79.7102
    Latitude
    34.2005
    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
    $80,609
    $0.00
    $150,616
    $150,616
    -
    $0.00
    $3,765,398
    $3,765,398

    Comparable in this City

    • Value Estimation
      $1,445,000
      8,160 SF

      406 Church St

      MEDICAL BUILDING • 8,160 SF
      406 Church St, Florence, SC 29506-3000
      View Details
    • Value Estimation by Request
      4,342 SF

      513 Dargan St

      MEDICAL BUILDING • 4,342 SF
      513 Dargan St, Florence, SC 29506-2549
      View Details
    • Value Estimation by Request
      14,978 SF

      600 Palmetto St

      MEDICAL BUILDING • 14,978 SF
      600 Palmetto St, Florence, SC 29506-2851
      View Details
    • Value Estimation by Request
      10,610 SF

      151 Quartz Ln

      MEDICAL BUILDING • 10,610 SF
      151 Quartz Ln, Florence, SC 29506-3456
      View Details
    • Value Estimation by Request
      1,050 SF

      701 Dargan St

      MEDICAL BUILDING • 1,050 SF
      701 Dargan St, Florence, SC 29506-2560
      View Details
    • Value Estimation by Request
      11,545 SF

      204 Cheves St

      MEDICAL BUILDING • 11,545 SF
      204 Cheves St, Florence, SC 29506-2604
      View Details

    Similar Nearby for Sale

    • $12,000,000
      119,567 SF

      Downtown Florence Business Technology Center

      Office building in downtown Florence with investment and value-add potential.
      187 E Evans St, Florence, SC 29506
      View Details
    • $50,000
      0.42 Acres

      Residential Lot Near McLeod Campus

      Residential vacant lot near McLeod Medical Campus with utilities.
      1211 Day St, Florence, SC 29506
      View Details
    • $200,000
      1,350 SF

      McLeod Hospital (less than 1 mile) as well as MUSC Hospital and Florence Regional Airport (both less than a 3 mile drive).""""}"""

      Florence Commercial Property - High Traffic Area
      726 Barringer St, Florence, SC 29506
      View Details
    • $1,750,000
      10.55 Acres

      Florence, SC Hwy 76 Commercial Land

      10.55 Acres, Mixed-Use Development Potential
      0 Us-76, Florence, SC 29506
      View Details
    • $500,000
      1.38 Acres

      Florence Mixed-Use Investment Opportunity

      High-traffic SC-327 Retail & Restaurant Space
      0 Sc-327, Florence, SC 29506
      View Details
    • $975,000
      36.58 Acres

      High-Traffic Florence Mixed-Use Property

      Prime US-76 location, multi-use potential.
      0 Palmetto St, Florence, SC 29506
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      74,186 SF

      Florence Office Space: 7,145 SF

      Prime Florence Office: Modern, Customizable Space
      2701 Alex Lee Blvd, Florence, SC 29506
      View Details
    • $10 SF/Yr
      2,300 SF

      Florence Office Space For Lease

      2300 sq ft Flex Space, I-95 Access
      1092 Church St, Florence, SC 29506
      View Details
    • $7 SF/Yr
      9,880 SF

      Downtown Florence Flex Space

      9,880 SF Flex Warehouse For Lease
      312 Railroad Ave, Florence, SC 29506
      View Details
    • $4 SF/Yr
      200,000 SF

      Industrial Space in Florence, SC

      100,000 SF Class B industrial space available for lease.
      4501 E Palmetto St, Florence, SC 29506
      View Details
    • $0.39 SF/Yr
      37,026 SF

      Florence Laydown Yard - Build to Suit

      0.85-acre fenced laydown yard, build-to-suit option.
      1927 Palmetto St, Florence, SC 29506
      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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