Flex Industrial Building with Drive-In
1156 Drop Off Drive, Summerville, SC 29483
For Sale
Contact for pricing
Five tenants occupy the building under NNN leases, with additional billboard tenancy.
Property Size34,500 SF
Lot Size6.13 Acres
Price / SF$219.57
Days on Market13
Property Features for 1156 Drop Off Drive
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Financials
Asking Price
Cap Rate
Gross Income
Warehouse & Industrial
Clear Height
Drive-In Doors
Three-Phase Power
Additional Details
Highway Access
Tenant in Place
Property Use
Building Details
Year Built
Buildings
Building Size
Tenancy
Listing Agency:
Colliers - Charleston, South Carolina
Listed By:
Jon-Michael Brock · License SC #95977
(864) 978-3704
Source:
Crexi
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 4:48PM
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 Colliers - Charleston, South Carolina
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Investment Insights
Based on property information with market context.
This 2021 flex industrial property contains approximately 34,500 SF across a multi-tenant building on 6.13 acres. Five tenants and a billboard tenant occupy the property under NNN leases, and the building is fully leased. Features include 24-foot eaves, a 32-foot ceiling, 20- to 30-foot clear height at the bottom of the beam, eight 14-by-12-foot drive-in doors, 3-phase power, LED lighting and approximately 60 parking spaces. The property is zoned Light Industrial in Berkeley County.
The site is positioned between the Jedburg Road and Nexton Parkway interchanges, with immediate access to I-26. It is approximately 9 miles from the Volvo Car Campus and about 20 minutes from Charleston International Airport, Boeing and the Port of Charleston. In-place income reflects a 6.60% cap rate, with annual rent increases specified in the leases.
The site is positioned between the Jedburg Road and Nexton Parkway interchanges, with immediate access to I-26. It is approximately 9 miles from the Volvo Car Campus and about 20 minutes from Charleston International Airport, Boeing and the Port of Charleston. In-place income reflects a 6.60% cap rate, with annual rent increases specified in the leases.
Key Highlights
- Approximately 34,500 SF flex industrial building on 6.13 acres; fully leased to five tenants and a billboard tenant
- Positioned between the Jedburg Road and Nexton Parkway interchanges, with immediate I‑26 access
- 24' eave height, 32' ceiling height and 20'-30' clear height at the bottom of the beam
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$651,321
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,026,420
$13.0M
Cap Rate 7%
$9,304,586
$9.3M
Cap Rate 9%
$7,236,900
$7.2M
Market Conditions
NOI Build-Up for 34,500 SF
Gross rent
$799.0K $23.16/SF
− Vacancy
−$32.8K −$0.95/SF
EGI
$766.3K $22.21/SF
− OpEx
−$114.9K −$3.33/SF
NOI
$651.3K $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 Rate 5%
$13,026,420
Cap Rate 7%
$9,304,586
Cap Rate 9%
$7,236,900
Alternative Uses
Best Use
Flex RnD
$10.54M
$9.22M – $12.29M
NOI $737,657 @ 7.0% cap · market cap 9.74%
Second Best
Warehouse
$9.30M
$8.14M – $10.86M
NOI $651,321 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$25.82M
$22.59M – $30.12M
NOI $1,807,319 @ 7.0% cap · market cap 23.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
30 ft
Clear height
8
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Balanced
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Five tenants occupy the building under NNN leases, with additional billboard tenancy.
Where is this flex space located?
The property is located at 1156 Drop Off Drive Summerville, SC.
What is the asking price?
The asking price for this property is $7,575,000.
What are key features of this property?
This property features: Approximately 34,500 SF flex industrial building on 6.13 acres; fully leased to five tenants and a billboard tenant; Positioned between the Jedburg Road and Nexton Parkway interchanges, with immediate I‑26 access; 24' eave height, 32' ceiling height and 20'-30' clear height at the bottom of the beam
