Two Connecting Office
For Sale
Contact for pricing
15 Gamecock Ave, Charleston, SC
Two well-maintained, connecting office condos totaling approximately 8,500 square feet.
Property Size8,500 SF
Lot Size0.50 Acres
Price / SF$250
Days on Market500
Property Features for 15 Gamecock Ave
General Information
Standard status
Active
Size
8,500 SF
Lot size
0.50 Acres
Property subtype
OFFICE
Listing Agency:
CBRE | Charleston
(843) 367-6053
Listed By:
Chip Shealy · License #83757
(843) 367-6053
Source:
Moodyscre
Added: Mar 28, 2025
Changed: Aug 8
Last Checked: May 20 at 9:04PM
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 CBRE | Charleston
Investment Insights
Based on property information with market context.
This is an opportunity to own two connecting office condos totaling approximately 8,500 square feet. The property, located at 15 Gamecock Ave in Charleston, SC, is easily accessible and has been well maintained. The full building is currently utilized as an insurance agency but could be used for medical or any professional office purposes. The current tenant will vacate prior to closing. Unit A consists of approximately 3,000 square feet on the first floor and 700 square feet on the second floor, with additional attic space. Unit B consists of approximately 3,100 square feet on the first floor and 1,700 square feet on the second floor. By filling in one opening, the property could be split back into two units. Each unit is separately metered for power and water.
Key Highlights
- Large combined office space: Approximately 8,500 square feet across two connecting condos.
- Ideal for owner‑user: Well‑maintained and easily accessible location in the Lowcountry.
- Flexible usage: Suitable for various professional office purposes (medical, insurance, etc.).
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
$119,306
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
5.61%
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%
$2,386,120
$2.4M
Cap Rate 7%
$1,704,371
$1.7M
Cap Rate 9%
$1,325,622
$1.3M
Market Conditions
NOI Build-Up for 8,500 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
$188.7K $22.20/SF
− Vacancy
−$29.6K −$3.49/SF
EGI
$159.1K $18.71/SF
− OpEx
−$39.8K −$4.68/SF
NOI
$119.3K $14.04/SF
Area
Charleston, SC
Vacancy
15.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,386,120
Cap Rate 7%
$1,704,371
Cap Rate 9%
$1,325,622
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.99M
NOI $119,306 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $161,017 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Charleston, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two well-maintained, connecting office condos totaling approximately 8,500 square feet.
Where is this office building located?
The property is located at 15 Gamecock Ave Charleston, SC.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: Large combined office space: Approximately **8,500 square feet** across two connecting condos.; Ideal for owner‑user: Well‑maintained and easily accessible location in the Lowcountry.; Flexible usage: Suitable for various professional office purposes (medical, insurance, etc.).
