Triplex with In-Unit
New
For Sale
$1,150,000
Pending
102 Nassau Street #A B C, Charleston, SC 29403
Each residence has separately metered utilities and central HVAC.
Property Size2,580 SF
Days on Market3
Property Features for 102 Nassau Street #A B C
General Information
Standard status
Pending
Size
2,580 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Asking Price
$1,150,000
Utilities to Site
Yes
Amenities
in-unit laundry
central HVAC
gated property
wood flooring
porch
deck
Building Details
Year Built
1885
Listing Agency:
Maison Real Estate
Listed By:
Southern Bell Living
(843) 287-9888
Source:
Southernbellliving
Added: Sep 28
Changed: Sep 29
Last Checked: Sep 30 at 12:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Maison Real Estate
Investment Insights
Based on property information with market context.
Built in 1885, this 2,580-square-foot triplex contains three 2-bedroom, 1-bath residences. Unit A occupies two levels; Unit B is on the ground floor, and Unit C is upstairs. Each residence includes in-unit laundry, central HVAC, and separately metered utilities. Wood floors and porch and deck areas add to the configuration, and all three residences are expected to be vacant at closing. The gated property also has shared off-street parking.
The property at 102 Nassau Street is one block from Meeting Street and two blocks from Upper King Street’s restaurants and shops. The College of Charleston is approximately a 0.9-mile walk away, with downtown destinations accessible on foot or by bicycle.
The roof was replaced in late 2017. Work in 2021 included bathroom remodels in all three residences, rebuilding the front porch and rear stairs and decking, replacing crawl-space ductwork, and paving the parking area with a canopy installed. Wood window sashes were replaced in 2021 and 2026.
The property at 102 Nassau Street is one block from Meeting Street and two blocks from Upper King Street’s restaurants and shops. The College of Charleston is approximately a 0.9-mile walk away, with downtown destinations accessible on foot or by bicycle.
The roof was replaced in late 2017. Work in 2021 included bathroom remodels in all three residences, rebuilding the front porch and rear stairs and decking, replacing crawl-space ductwork, and paving the parking area with a canopy installed. Wood window sashes were replaced in 2021 and 2026.
Key Highlights
- Three 2‑bedroom, 1‑bath residences in a 2,580‑square‑foot triplex
- All three residences will be vacant at closing
- Separate utility meters, in‑unit laundry, and central HVAC in each residence
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
$33,792
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
2.94%
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%
$675,840
$675.8K
Cap Rate 7%
$482,743
$482.7K
Cap Rate 9%
$375,467
$375.5K
Market Conditions
NOI Build-Up for 2,580 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
$51.1K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.3K $18.71/SF
− OpEx
−$14.5K −$5.61/SF
NOI
$33.8K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$675,840
Cap Rate 7%
$482,743
Cap Rate 9%
$375,467
Alternative Uses
Best Use
Multifamily LT 5
$482.7K
$422.4K – $563.2K
NOI $33,792 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$447.4K
$391.5K – $522.0K
NOI $31,317 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$698.2K
$610.9K – $814.6K
NOI $48,873 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has separately metered utilities and central HVAC.
Where is this triplex located?
The property is located at 102 Nassau Street #A B C Charleston, SC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath residences in a 2,580‑square‑foot triplex; All three residences will be vacant at closing; Separate utility meters, in‑unit laundry, and central HVAC in each residence
