1621 Cashua DrFlorence, SC 29501

Property Details for 1621 Cashua Dr

Year built

1974

Lot size

1.42 AC

Property size (Sq ft)

19,278 SF

Property type

Motels

APN

00121-01-116

APU

12101116

Description

Exceptional investment opportunity awaits with the City Inn, a 59-key hotel located at 1621 N Cashua Dr, Florence, SC 29501. This established property sits on a 3.21-acre lot and offers 64,306 square feet of space, including 28,295 square feet of building area. Built in 1974, the two-story City Inn is zoned CI and presents significant potential for growth and expansion. The asking price is $2,500,000, translating to $42,373 per key and $38.88 per square foot. Strong financial projections are supported by the surrounding demographics, boasting a 2023 average household income of $87,525 within a one-mile radius. This well-situated hotel offers a compelling return on investment in a thriving South Carolina market. The property's strategic location and established presence make it an attractive prospect for both seasoned investors and those seeking to enter the hospitality sector. Detailed financial summaries are available upon request. Don't miss this chance to acquire a profitable hospitality asset in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,048,264

  6.5%

  $2,813,782

  7%

  $2,612,797

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,690,094

  Geo Method

  $7,671,661

• Alternative Use

  Use

  Valuation

  Residential

  $3,071,832

  Hospitality

  $2,813,782

  Educational

  $2,341,034

  Medical

  $2,421,545

  Retail

  $3,641,608

Location Insight

City

Florence

County

Florence

State

South Carolina

Latitude

34.228

Longitude

-79.7949

CBSA code

22500

CBSA name

FLORENCE, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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