Summerville Flex Warehouse on 10
For Sale
$1,750,000
1268 State Rd, Summerville, SC 29486
Flex warehouse on 10 acres between Carnes Crossroads and Cane Bay.
Property Size3,000 SF
Lot Size10.00 Acres
Price / SF$583.33
Days on Market159
Property Features for 1268 State Rd
General Information
Standard status
Active
Size
3,000 SF
Lot size
10.00 Acres
Property subtype
Industrial
Building Details
Building Size
3,000 SF
Year Built
1993
Listing Agency:
NAI | Charleston
(843) 513-0595
Listed By:
Christi Copenhaver · License #128260
Source:
Naicharleston
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 31 at 2:18PM
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 NAI | Charleston
Investment Insights
Based on property information with market context.
Located in Summerville, SC, this flex warehouse property at 1268 State Road is situated between Carnes Crossroads (1.7 miles) and Cane Bay (2.2 miles), and near the new Roper Hospital (1.2 miles). The property spans approximately 10 acres and features a building of approximately 3,000 square feet. The building includes approximately 1,000 square feet of office space and approximately 2,000 square feet of raw warehouse space. The warehouse has 18-foot eaves and two 10-foot by 12-foot bay doors. A mezzanine storage area above the office space provides an additional approximately 1,000 square feet. The building will be vacant upon sale. The property has 315 feet of frontage on State Road (Hwy 176), offering direct access. The seller also has a quit claim deed for half of the adjacent parcel (.107 acres, TMS #: 209-00-01-084), which will convey with the sale. Value is found in the improvements and prime location.
Key Highlights
- Prime location between Carnes Crossroads and Cane Bay, near the new Roper Hospital.
- ±10 acre property with a ±3,000 SF flex warehouse building.
- Includes ±1,000 SF of office space and ±2,000 SF of raw warehouse space.
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
$64,144
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
3.67%
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%
$1,282,880
$1.3M
Cap Rate 7%
$916,343
$916.3K
Cap Rate 9%
$712,711
$712.7K
Market Conditions
NOI Build-Up for 3,000 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
$110.9K $36.96/SF
− Vacancy
−$12.2K −$4.07/SF
EGI
$98.7K $32.89/SF
− OpEx
−$34.5K −$11.51/SF
NOI
$64.1K $21.38/SF
Area
Dorchester County, SC
Vacancy
11.00%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,282,880
Cap Rate 7%
$916,343
Cap Rate 9%
$712,711
Alternative Uses
Best Use
Flex RnD
$916.3K
$801.8K – $1.07M
NOI $64,144 @ 7.0% cap · market cap 3.67%
Second Best
Industrial
$666.3K
$583.0K – $777.4K
NOI $46,642 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$2.25M
$1.96M – $2.62M
NOI $157,158 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29486, SC
41,148
Population
19,452
Households
2.1
Avg Household Size
35
Median Age
31%
College-Educated
90%
High-School Grad
62.3 sq mi
ZIP Area
660
Density / Sq Mi
$87,386
Median Household Income
$45,533
Median Earnings
$1,612
Median Rent
$329,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse on 10 acres between Carnes Crossroads and Cane Bay.
Where is this flex space located?
The property is located at 1268 State Rd Summerville, SC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime location between Carnes Crossroads and Cane Bay, near the new Roper Hospital.; ±10 acre property with a ±3,000 SF flex warehouse building.; Includes ±1,000 SF of office space and ±2,000 SF of raw warehouse space.
