Redevelopment Opportunity in Mount
For Sale
$1,295,000
1514 North Highway 17, Mount Pleasant, SC 29464
Redevelopment site with high traffic and nearby amenities.
Property Size2,924 SF
Price / SF$442.89
Days on Market136
Property Features for 1514 North Highway 17
General Information
Standard status
Active
Size
2,924 SF
Property subtype
Retail
Listing Agency:
CBRE - Charleston
(843) 577-1155
Listed By:
Charles Carmody · License #115122
(843) 577-1155
Source:
Cbre
Added: Apr 15
Changed: Aug 15
Last Checked: Aug 26 at 6:31AM
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.
The property, formerly a Henry’s Sporting Goods Store, features approximately 2,084 square feet on the first floor and approximately 840 square feet on the second floor, totaling 2,924 square feet. It is located in Charleston County outside the Town of Mt Pleasant and is zoned commercial within the Charleston County Mount Pleasant Overlay District. The site is suitable for redevelopment. It benefits from a high traffic volume of 81,200 vehicles per day at the intersection of I-526 and Highway 17. Immediate nearby amenities within walking distance include Chipotle, Ye Ole Fashioned Ice Cream and Sandwich Shop, the Cambria Hotel, and Wando Crossing Center, which features Walmart, TJ Maxx, Marshalls, and Total Wine & More.
Key Highlights
- High Traffic Location: 81,200 Vehicles Per Day (VPD) on I‑526 and Hwy 17.
- Redevelopment Opportunity: Ideal site for redevelopment in Charleston County.
- Commercial Zoning: Zoned Commercial in Charleston County, offering diverse business possibilities.
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
$54,882
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
4.24%
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%
$1,097,640
$1.1M
Cap Rate 7%
$784,029
$784.0K
Cap Rate 9%
$609,800
$609.8K
Market Conditions
NOI Build-Up for 2,924 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
$81.8K $27.96/SF
− Vacancy
−$3.4K −$1.15/SF
EGI
$78.4K $26.81/SF
− OpEx
−$23.5K −$8.04/SF
NOI
$54.9K $18.77/SF
Area
Charleston County, SC
Vacancy
4.10%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,097,640
Cap Rate 7%
$784,029
Cap Rate 9%
$609,800
Alternative Uses
Best Use
Retail
$784.0K
$686.0K – $914.7K
NOI $54,882 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$928.7K – $1.24M
NOI $74,299 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
325k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 31%
Shops & Services 30%
Apparel 13%
Groceries 10%
Walmart
Superstores
100,370 visits/mo
0.4 miles
T.J. Maxx
Apparel
40,731 visits/mo
0.4 miles
Total Wine & More
Groceries
32,668 visits/mo
0.3 miles
Michaels
Shops & Services
24,508 visits/mo
0.2 miles
Sunoco
Shops & Services
14,282 visits/mo
0.2 miles
Demographics for 29464, SC
51,287
Population
26,829
Households
1.9
Avg Household Size
41
Median Age
67%
College-Educated
96%
High-School Grad
30.1 sq mi
ZIP Area
1,704
Density / Sq Mi
$107,215
Median Household Income
$60,066
Median Earnings
$1,973
Median Rent
$672,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Redevelopment site with high traffic and nearby amenities.
Where is this retail space located?
The property is located at 1514 North Highway 17 Mount Pleasant, SC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: High Traffic Location: 81,200 Vehicles Per Day (VPD) on I‑526 and Hwy 17.; Redevelopment Opportunity: Ideal site for redevelopment in Charleston County.; Commercial Zoning: Zoned Commercial in Charleston County, offering diverse business possibilities.
