1937 Palmetto StFlorence, SC 29506

Property Details for 1937 Palmetto St

Year built

1968

Lot size

0.72 AC

Property size (Sq ft)

2,907 SF

Property type

Office buildings

APN

90137-01-008

APU

9013701008

Description

This exceptional 3,000 square foot office building, located at 1937 E Palmetto St, Florence, SC 29506, presents a unique investment opportunity. The single-story, Class C building sits on a 0.72-acre lot and boasts a desirable location near downtown Florence, offering easy access to I-95 (9 miles) and the Florence County Industrial Park East (6.5 miles). Originally constructed in 1968 and renovated in the 2000s, this well-maintained property features updated interior finishes. Currently operating at 100% occupancy as a single-tenant building, it offers a strong return on investment. The property is zoned for general commercial use and includes ample surface parking both in front and behind the building. The asking price is $375,000, translating to $125 per square foot. County zoning permits a variety of uses, including executive, medical, and traditional office spaces. The property's former use as a bank facility speaks to its structural integrity and suitability for various professional settings. This is a turnkey opportunity for an investor seeking a profitable, established commercial property in a thriving South Carolina location. The APN is 90137-01-008. Three-phase power is available. Note that an adjacent 10.85-acre parcel is also available for purchase separately.

• CAP approach

  CAP return

  Valuation

  6%

  $602,371

  6.5%

  $556,035

  7%

  $516,318

• Comparable approach

  Method

  Valuation

  Relative Method

  $259,884

  Geo Method

  $492,271

• Alternative Use

  Use

  Valuation

  Residential

  $689,483

  Hospitality

  $631,563

  Educational

  $525,453

  Medical

  $543,524

  Retail

  $817,371

Location Insight

City

Florence

County

Florence

State

South Carolina

Latitude

34.1977

Longitude

-79.7336

CBSA code

22500

CBSA name

FLORENCE, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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