Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Drop Off Dr Summerville, SC 29483

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,499,000

    Prime real estate in Summerville, SC, ideal for senior living.

    Property size:
    14 SF
    Lot size:
    14.30 Acres

    Property Features for Drop Off Dr

    General Information

    Size
    14 SF
    Lot size
    14.30 Acres

    We can help!

    Listing Contact
    Burt Rhodes
    Source: Svn

    Listing Agent: Burt Rhodes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Ready for Senior Living

    Located in Summerville, South Carolina, this property offers approximately 14.3 acres of land suitable for senior living within a Planned Unit Development (PUD). The site is adjacent to I-26 on the frontage road and near Nexton, a master-planned community. The property allows for a maximum of 100,000 square feet for a Continuing Care Retirement Community. Charleston's growing retiree population makes this location ideal, especially with its proximity to a 900-acre neighborhood developed by DR Horton. The property is zoned PUD within Sheep Island PUD, offering a senior living development opportunity in metro Charleston's growth corridor. Situated just north of Nexton Parkway at Exit #197, it intersects Drop Off Drive and borders I-26, providing connectivity to the surrounding area. Charleston's climate and affordability have made it a top emerging market for retirees, with a senior population increase of 27.7% over the past five years. Sheep Island PUD is surrounded by Nexton, which includes 30,000 residences, retail services, and a $130 million MUSC hospital, ensuring access to medical care. The property offers access to I-26 via the Nexton Parkway Interchange and is located approximately 20 miles from Charleston.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Summerville
    County
    Dorchester
    State
    South Carolina
    Longitude
    -80.205541
    Latitude
    33.081639

    Nearby Similar for Sale

    • $1,480,500
      3,340 SF

      Downtown Summerville Commercial Building

      Freestanding building in historic downtown Summerville, suitable for various uses.
      202 E 2Nd North St, Summerville, SC 29483
      View Details
    • $646,500
      0.27 Acres

      Summerville Quadplex Investment Opportunity

      Well-located quadplex in Summerville, SC, near major employers.
      109 Magwood Dr, Summerville, SC 29485
      View Details
    • $675,000
      0.32 Acres

      Summerville Quadplex Investment Opportunity

      Well-maintained quadplex in a convenient Summerville location.
      107 Magwood Dr, Summerville, SC 29485
      View Details
    • $675,000
      0.49 Acres

      Summerville Quadplex: Investment Opportunity

      Well-maintained quadplex in a convenient Summerville location.
      105 Magwood Dr, Summerville, SC 29485
      View Details
    • $646,500
      0.57 Acres

      Summerville Quadplex Investment Opportunity

      Fully occupied quadplex in Summerville, SC, near downtown and major employers.
      103 Magwood Dr, Summerville, SC 29485
      View Details
    • $740,000
      0.21 Acres

      Summerville Quadplex: Investment Opportunity

      Well-maintained quadplex in Summerville with immediate cash flow potential.
      121 Langley Dr, Summerville, SC 29485
      View Details
    • $460,000
      0.44 Acres

      Multi-Unit Investment Opportunity in Summerville

      Three rental units generating $4,510 monthly income in Summerville.
      316 Owens Dr, Summerville, SC 29485
      View Details
    • $646,500
      0.31 Acres

      Summerville Quadplex Investment Opportunity

      Well-located Summerville quadplex near major employers and retail.
      104 Jedi Ln, Summerville, SC 29485
      View Details
    • Contact for pricing
      30,000 SF

      Nexton Mixed-Use Development Opportunity

      Mixed-use property in Nexton with office, retail, and restaurant spaces.
      1227 Nexton Pkwy, Summerville, SC
      View Details
    • $310,000
      1,792 SF

      Spacious Home on Large Corner Lot

      Well-maintained manufactured home with pool, hot tub, and detached building.
      144 Allspice Dr, Summerville, SC 29483
      View Details
    • $495,000
      2,639 SF

      Commercial Property in Growing Corridor

      2,639 SF property suitable for various commercial uses.
      1745 Central Ave, Summerville, SC 29483
      View Details
    • Contact for pricing
      4,582 SF

      Prime Summerville Commercial Land Opportunity

      1.36-acre site ideal for QSR, retail, medical, or service development.
      1320 N Main St, Summerville, SC 29483
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime real estate in Summerville, SC, ideal for senior living.
    Where is this commercial land located?
    The property is located at Drop Off Dr Summerville, SC.
    What is the asking price?
    The asking price for this property is $5,499,000.
    What are key features of this property?
    This property features: - Located in a high-growth area adjacent to Nexton, an award-winning master-planned community.; - Prime location in Summerville, SC, the #1 emerging market for retirees, with a significant senior population increase.; - Excellent accessibility with direct frontage on I-26 and quick access via the Nexton Parkway Interchange.
    (843) 557-3939
    Request Owner's contact information
    Drop Off Dr Summerville, SC 29483
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Drop Off Dr
    Summerville, SC 29483
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Drop Off Dr Summerville, SC 29483
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Burt Rhodes
    Real Estate License ID: #48754
    (843) 557-3939
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.