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    The Largest CRE Database in the US with Over 1 Million Listings

    46-50 Queen St Charleston, SC 29401

    Sponsored
    For Sale
    $9,745,000

    MULTI_FAMILY - Charleston, SC

    Lot size:
    0.13 Acres
    Days on Market:
    132
    Last Refresh:
    Jan 25 at 12:06 pm

    Property Features for 46-50 Queen St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Interior features
    Ceiling Fan(s)
    Lot size
    0.13 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    4
    Number of units
    16
    Building materials
    Brick, Stucco

    We can help!

    Listing Contact
    Jonathan Holt
    Jonathan Holt

    Keller Williams Realty Charleston West Ashley (843) 737-6780

    Listing agent Jonathan Holt

    Listing date Sep 16, 2025

    MLS# 24018363

    Copyright © 2025 CHS 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.

    Learn more

    Property Insight Report

    Overview

    Historic Charleston Multifamily and Retail

    Located in Charleston's Historic District, this property features 15 residential units with 22 beds and 22 baths, along with one commercial unit. The property consists of nine 1/1 units, five 2/2 units, and one 3/3 unit. It comprises two historically significant buildings dating back to circa 1799 and 1890, with related outbuildings and 16 off-street parking spaces. Situated near the Mills House Hotel and Waterfront Park, the property offers views and convenience. The main house at 46 Queen includes seven updated 1/1 units across four floors, featuring wide piazzas and exposed brick walls. 48 Queen encompasses the former kitchen house, stable house, and carriage house, including two 2 bed/2 bath units and two 1 bed/1 bath units. 50 Queen features a retail space and four residential units: three 2 bed/2 bath units and one 3 bed/3 bath unit. The units at 50 Queen have exposed wooden beams and brick details. All buildings are equipped with fire sprinklers, and both main buildings have high elevations and full basements with poured concrete floors. The building is undergoing a condo conversion, expected to be completed by the end of 2025.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Berkeley
    State
    South Carolina
    Longitude
    -79.929906
    Latitude
    32.778435

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    FAQs

    What type of property is this?
    Apartment building - Historic property with residential and commercial units in Charleston.
    Where is this apartment building located?
    The property is located at 46-50 Queen St Charleston, SC.
    What is the asking price?
    The asking price for this property is $9,745,000.
    What are key features of this property?
    This property features: - Prime location in Charleston's Historic District, near Mills House Hotel & Waterfront Park.; - Significant income potential with 15 residential units (mix of 1/1, 2/2, and 3/3 units) and 1 commercial unit.; - 16 off-street parking spaces, a rare and valuable amenity in the Historic District.
    (843) 737-6780
    Request Owner's contact information
    46-50 Queen St Charleston, SC 29401
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    Charleston, SC 29401
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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
    46-50 Queen St Charleston, SC 29401
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    We can help!
    Listing Contact
    Jonathan Holt
    Jonathan Holt
    (843) 737-6780
    Learn more
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