Renovated Flex Space with
For Sale
$968,000
2728 Depot Road, Beaufort, SC 29902
Commercial Sale, Beaufort, SC
Property Size5,050 SF
Lot Size0.44 Acres
Price / SF$191.68
Days on Market359
Property Features for 2728 Depot Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Beaufort
Standard status
Active
APN
R120 003 000 682a 0000
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
WHSE
Legal Description
WHSE
Listing Agency:
Principal Advisors
(800) 530-0549
Listed By:
Reynolds Robinson · License #129060
(843) 986-7396
Added: Oct 1, 2025
Changed: Sep 6
Last Checked: Sep 24 at 2:06PM
MLS# 192765
Copyright © 2026 Lowcountry Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,050-square-foot flex property combines updated workspace with warehouse functionality. The front section contains approximately 2,800 square feet of renovated flex space and is served by a 2024 HVAC system. The rear includes approximately 2,250 square feet of warehouse area, tall ceilings, a portion of climatized workspace, and a large bay door. Renovation and light expansion work was completed during 2023/24, and the site includes a fenced storage yard.
Located at 2728 Depot Road in Beaufort, the property fronts the Spanish Moss Trail and sits within the city’s artisan corridor. The building is conveyed with a newly executed, long-term lease to a corporate tenant.
Located at 2728 Depot Road in Beaufort, the property fronts the Spanish Moss Trail and sits within the city’s artisan corridor. The building is conveyed with a newly executed, long-term lease to a corporate tenant.
Key Highlights
- Approximately 5,050 SF building with flex and warehouse areas
- Approximately 2,800 SF of renovated front flex space
- Approximately 2,250 SF rear warehouse with tall ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$677,880
$677.9K
Cap Rate 7%
$484,200
$484.2K
Cap Rate 9%
$376,600
$376.6K
Market Conditions
NOI Build-Up for 5,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.4K $8.40/SF
− Vacancy
−$2.5K −$0.50/SF
EGI
$39.9K $7.90/SF
− OpEx
−$6.0K −$1.18/SF
NOI
$33.9K $6.71/SF
Area
Beaufort County, SC
Vacancy
6.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$677,880
Cap Rate 7%
$484,200
Cap Rate 9%
$376,600
Alternative Uses
Best Use
Flex RnD
$1.29M
$1.13M – $1.51M
NOI $90,597 @ 7.0% cap · market cap 9.36%
Second Best
Warehouse
$484.2K
$423.7K – $564.9K
NOI $33,894 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,656 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29902, SC
16,692
Population
7,131
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
922
Density / Sq Mi
$72,564
Median Household Income
$36,468
Median Earnings
$1,157
Median Rent
$306,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated front workspace connects with rear warehouse capacity, a bay door, and fenced outdoor storage.
Where is this flex space located?
The property is located at 2728 Depot Road Beaufort, SC.
What is the asking price?
The asking price for this property is $968,000.
What are key features of this property?
This property features: Approximately 5,050 SF building with flex and warehouse areas; Approximately 2,800 SF of renovated front flex space; Approximately 2,250 SF rear warehouse with tall ceilings
