Triplex with In-Unit
New
For Sale
$1,150,000
102 Nassau Street, Charleston, SC 29403
Residential Income, Charleston, SC
Property Size2,580 SF
Lot Size0.06 Acres
Price / SF$445.74
Days on Market2
Property Features for 102 Nassau Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Non-Conforming
Bedrooms
6
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 3
Parking
1
Interior features
Ceiling Fan(s)
Subdivision
Eastside
Elementary school
Sanders Clyde
Middle school
Simmons Pinckney
High school
Burke
Directions
North On Meeting, Right On Line St. 102 Nassau Will Be On The Left On The Corner Of Nassau And Line.
Standard status
Active
Size
2,580 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
central HVAC
gated property
wood flooring
porch and deck areas
Building Details
Year built
1885
Floors in Building
2
Number of units
3
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
Keller Williams Realty Charleston
Listed By:
Lane Huntley
(843) 416-2000
Added: Sep 25
Last Checked: Sep 26 at 2:06AM
MLS# 26026700
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Built in 1885, this 2,580-square-foot triplex contains three two-bedroom, one-bath residences. Unit A occupies two levels, with Unit B on the ground floor and Unit C above. Each residence has in-unit laundry and central HVAC, and the utilities are separately metered. Wood floors and porch and deck areas are part of the property. All three residences are expected to be vacant at closing.
The property is one block from Meeting Street and two blocks from the restaurants and shops on Upper King Street. The College of Charleston is approximately a 0.9-mile walk away. The gated site includes shared off-street parking.
The roof was replaced in late 2017. Work completed in 2021 included bathroom renovations 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 added. Wood window sashes were replaced in 2021 and 2026, and appliances were replaced across the residences.
The property is one block from Meeting Street and two blocks from the restaurants and shops on Upper King Street. The College of Charleston is approximately a 0.9-mile walk away. The gated site includes shared off-street parking.
The roof was replaced in late 2017. Work completed in 2021 included bathroom renovations 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 added. Wood window sashes were replaced in 2021 and 2026, and appliances were replaced across the residences.
Key Highlights
- Three 2‑bedroom, 1‑bath residences in 2,580 square feet
- All residences expected to be vacant at closing
- Separately metered utilities, in‑unit laundry, and central HVAC
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
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,132
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three separately metered residences have central HVAC, and all are expected to be vacant at closing.
Where is this triplex located?
The property is located at 102 Nassau Street 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 2,580 square feet; All residences expected to be vacant at closing; Separately metered utilities, in‑unit laundry, and central HVAC
