Leased Office
For Sale
$1,000,000
604 Front St, Georgetown, SC 29440
Georgetown Executive Center offers 11 individually leased private office spaces with on-site tenant parking across from the George Hotel.
Property Size2,961 SF
Price / SF$337.72
Days on Market513
Property Features for 604 Front St
General Information
Standard status
Active
Size
2,961 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$6,489
Building Details
Year Built
1966
Listing Agency:
Peace Sotheby's Intl Realty PI
(843) 237-7711
Listed By:
Lauren O Call · License #91617
(864) 884-3695
Source:
Exitrealty
Added: Apr 13, 2025
Changed: Sep 2
Last Checked: Sep 7 at 6:38AM
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 Peace Sotheby's Intl Realty PI
Investment Insights
Based on property information with market context.
Georgetown Executive Center at 604 Front St includes 11 individually leased private office spaces within a single commercial property. The building is positioned to support a multi-tenant office setup, with current lease agreements in place to provide a consistent income stream.
The property is located on Front Street in the Core Commercial District for the City of Georgetown, directly across from the George Hotel. It also features a private parking lot for tenants. The remarks note proximity to downtown Georgetown’s retail, dining, and waterfront amenities, and the property lies within the historic district.
For regional accessibility, the location is described as near major thoroughfares connecting to Charleston (approximately 60 miles southwest) and Myrtle Beach (approximately 35 miles northeast), with the site also noted as within an eligible Opportunity Zone.
The property is located on Front Street in the Core Commercial District for the City of Georgetown, directly across from the George Hotel. It also features a private parking lot for tenants. The remarks note proximity to downtown Georgetown’s retail, dining, and waterfront amenities, and the property lies within the historic district.
For regional accessibility, the location is described as near major thoroughfares connecting to Charleston (approximately 60 miles southwest) and Myrtle Beach (approximately 35 miles northeast), with the site also noted as within an eligible Opportunity Zone.
Key Highlights
- Georgetown Executive Center includes 11 individually leased private office spaces.
- Private parking lot available for tenants.
- Located on Front Street directly across from the George Hotel.
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
$41,572
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
4.16%
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%
$831,440
$831.4K
Cap Rate 7%
$593,886
$593.9K
Cap Rate 9%
$461,911
$461.9K
Market Conditions
NOI Build-Up for 2,961 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
$71.1K $24.00/SF
− Vacancy
−$15.6K −$5.28/SF
EGI
$55.4K $18.72/SF
− OpEx
−$13.9K −$4.68/SF
NOI
$41.6K $14.04/SF
Area
Georgetown County, SC
Vacancy
22.00%
Lease Rate
$24.00 /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%
$831,440
Cap Rate 7%
$593,886
Cap Rate 9%
$461,911
Alternative Uses
Best Use
Office B
$593.9K
$519.7K – $692.9K
NOI $41,572 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.2K
$710.6K – $947.5K
NOI $56,851 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 29440, SC
27,451
Population
13,845
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
89%
High-School Grad
523.1 sq mi
ZIP Area
52
Density / Sq Mi
$54,926
Median Household Income
$33,636
Median Earnings
$912
Median Rent
$160,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Georgetown Executive Center offers 11 individually leased private office spaces with on-site tenant parking across from the George Hotel.
Where is this office units located?
The property is located at 604 Front St Georgetown, SC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Georgetown Executive Center includes 11 individually leased private office spaces.; Private parking lot available for tenants.; Located on Front Street directly across from the George Hotel.
