262 Cheves StFlorence, SC 29501

Property Details for 262 Cheves St

Year built

1955

Lot size

0.52 AC

Property size (Sq ft)

1,460 SF

Zone code

B3

Property type

Medical offices

Property subtype

Medical space

APN

90087-01-015

APU

9008701015

Description

This exceptional ±0.51-acre commercial land parcel presents a unique investment opportunity in the heart of downtown Florence, South Carolina. Located at 262 West Cheves Street, this property boasts approximately 75 feet of frontage on Cheves Street and a depth of approximately 289 feet. The site currently includes a 1,460 square foot building constructed in 1955, previously used as a dental office. This building offers potential for renovation or redevelopment, complementing the significant land value. The property is zoned Central Business District (CBD), providing flexibility for a variety of commercial uses. Conveniently located in Florence County, this site benefits from readily available utilities, including water and sewer connections. The property's prime location and zoning make it ideal for entrepreneurs and investors seeking a high-visibility presence in a thriving downtown area. The asking price is $246,580, and the APN is 90087-01-015. This is a rare opportunity to acquire a substantial commercial lot in a desirable downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $240,253

  6.5%

  $221,772

  7%

  $205,931

• Comparable approach

  Method

  Valuation

  Relative Method

  $105,275

  Geo Method

  $247,236

• Alternative Use

  Use

  Valuation

  Residential

  $274,997

  Hospitality

  $251,896

  Educational

  $209,574

  Medical

  $216,782

  Retail

  $326,004

Location Insight

City

Florence

County

Florence

State

South Carolina

Latitude

34.1949

Longitude

-79.7693

CBSA code

22500

CBSA name

FLORENCE, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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