Mixed-Use Property with Medical
For Sale
$2,795,000
112 Rutledge Avenue, Charleston, SC 29401
Three upper-level apartments complement a street-level medical office and dedicated parking.
Property Size6,873 SF
Price / SF$406.66
Days on Market143
Property Features for 112 Rutledge Avenue
General Information
Standard status
Active
Size
6,873 SF
Total Parking Spaces
10
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Harleston Village
Additional Details
Floor
Ground Floor
Multifamily Units
3
Tenant in Place
Yes
Property Use
Medical Office
Building Details
Building Size
6,873 SF
Year Built
1925
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
Palmetto Commercial Prop, LLC
Listed By:
Jenna Philipp
Source:
Templetongroupchs
Added: Jun 11
Changed: Oct 31
Last Checked: Oct 31 at 12:58PM
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 Palmetto Commercial Prop, LLC
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Investment Insights
Based on property information with market context.
This 6,873-square-foot mixed-use property, built in 1925, combines a ground-floor medical office with three residential units on the second and third floors. The apartments contain nine bedrooms and four bathrooms in total. The office lease runs through December 2029, and one residential unit, Unit D, is currently vacant following renovation. Recent renovations are also noted for the property.
The building has 10 dedicated parking spaces: six assigned to the medical office tenant and four to the residential units. It is in Charleston’s Historic District, adjacent to the hospital district, and within walking distance of the College of Charleston, the Medical University of South Carolina, and retail sites.
The building has 10 dedicated parking spaces: six assigned to the medical office tenant and four to the residential units. It is in Charleston’s Historic District, adjacent to the hospital district, and within walking distance of the College of Charleston, the Medical University of South Carolina, and retail sites.
Key Highlights
- 6,873‑square‑foot property built in 1925
- Ground‑floor medical office lease through December 2029
- Three residential units with nine bedrooms and four bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,925
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,938,500
$1.9M
Cap Rate 7%
$1,384,643
$1.4M
Cap Rate 9%
$1,076,944
$1.1M
Market Conditions
NOI Build-Up for 6,873 SF
Gross rent
$177.3K $25.80/SF
− Vacancy
−$15.8K −$2.30/SF
EGI
$161.5K $23.50/SF
− OpEx
−$64.6K −$9.40/SF
NOI
$96.9K $14.10/SF
Area
Charleston, SC
Vacancy
8.90%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,938,500
Cap Rate 7%
$1,384,643
Cap Rate 9%
$1,076,944
Alternative Uses
Best Use
Healthcare Medical
$1.38M
$1.21M – $1.62M
NOI $96,925 @ 7.0% cap · market cap 3.47%
Second Best
Office B
$1.38M
$1.21M – $1.61M
NOI $96,469 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,197 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,660
Businesses Nearby
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Business Placement
Demographics for 29401, SC
9,145
Population
5,808
Households
1.6
Avg Household Size
38
Median Age
75%
College-Educated
96%
High-School Grad
1.5 sq mi
ZIP Area
6,097
Density / Sq Mi
$90,074
Median Household Income
$45,653
Median Earnings
$1,838
Median Rent
$1,165,900
Median Home Value
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Market
Vacancy Rate% for Office in Charleston, SC
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three upper-level apartments complement a street-level medical office and dedicated parking.
Where is this mixed-use property located?
The property is located at 112 Rutledge Avenue Charleston, SC.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 6,873‑square‑foot property built in 1925; Ground‑floor medical office lease through December 2029; Three residential units with nine bedrooms and four bathrooms
