Multi-Building Industrial Warehouse
For Sale
Contact for pricing
108 Mitchell Drive, Summerville, SC 29483
Five-building warehouse portfolio with varied clear heights, loading doors, and additional land for outdoor storage or staging.
Property Size25,828 SF
Lot Size4.12 Acres
Price / SF$251.66
Days on Market122
Property Features for 108 Mitchell Drive
General Information
Standard status
Active
Size
25,828 SF
Class
B
Lot size
4.12 Acres
Property subtype
Industrial, Mixed Use
Zoning
LI
Investment Type
Value Add
Building Details
Year Built
1985
Buildings
5
Stories
1
Units
1
Listing Agency:
ALIGN'D PROPERTIES
Listed By:
Mary Beth Wichlei · License #SC 52280
Source:
Crexi
Added: May 2
Changed: Aug 29
Last Checked: Aug 29 at 3:12PM
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 ALIGN'D PROPERTIES
Investment Insights
Based on property information with market context.
This industrial warehouse portfolio comprises five buildings at 198 Thorpe Road, 116 Airport Road, 115 Airport Road, and 110 Airport Entrance Road in Summerville. Building areas range from ±1,498 SF to ±10,838 SF, with clear heights from ±10’4” to ±13’. Loading infrastructure includes multiple roll-up and vertical-fold doors, including a 13’ x 13’ door, 44’ x 9’ vertical-fold doors, and a 21’ x 10’4” opening. Building 3 is identified as Suite B, while Building 4 is identified as Suite A within the same parcel.
The portfolio also includes two additional parcels totaling ±0.22 acres. The land is identified for outdoor storage, equipment staging, or future expansion. The property is zoned LI, and the improvements were built in 1985.
The portfolio also includes two additional parcels totaling ±0.22 acres. The land is identified for outdoor storage, equipment staging, or future expansion. The property is zoned LI, and the improvements were built in 1985.
Key Highlights
- Five warehouse buildings across 198 Thorpe Road, 116 and 115 Airport Road, and 110 Airport Entrance Road
- Building areas range from ±1,498 SF to ±10,838 SF
- Clear heights span ±10’4” to ±13’
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
$487,604
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
7.50%
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%
$9,752,080
$9.8M
Cap Rate 7%
$6,965,771
$7.0M
Cap Rate 9%
$5,417,822
$5.4M
Market Conditions
NOI Build-Up for 25,828 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
$598.2K $23.16/SF
− Vacancy
−$24.5K −$0.95/SF
EGI
$573.7K $22.21/SF
− OpEx
−$86.0K −$3.33/SF
NOI
$487.6K $18.88/SF
Area
Dorchester County, SC
Vacancy
4.10%
Lease Rate
$23.16 /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%
$9,752,080
Cap Rate 7%
$6,965,771
Cap Rate 9%
$5,417,822
Alternative Uses
Best Use
Warehouse
$6.97M
$6.10M – $8.13M
NOI $487,604 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.33M
$16.91M – $22.55M
NOI $1,353,027 @ 7.0% cap · market cap 20.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29483, SC
56,778
Population
23,133
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
53.3 sq mi
ZIP Area
1,065
Density / Sq Mi
$82,194
Median Household Income
$42,929
Median Earnings
$1,220
Median Rent
$303,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Armstrong Company — 168 Portside Pk Dr A, Summerville, SC 29483
- AGRO Merchants Group — 1125 Newton Way, Summerville, SC 29483
Frequently Asked Questions
What type of property is this?
Warehouse - Five-building warehouse portfolio with varied clear heights, loading doors, and additional land for outdoor storage or staging.
Where is this warehouse located?
The property is located at 108 Mitchell Drive Summerville, SC.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Five warehouse buildings across 198 Thorpe Road, 116 and 115 Airport Road, and 110 Airport Entrance Road; Building areas range from ±1,498 SF to ±10,838 SF; Clear heights span ±10’4” to ±13’
