Renovated Office
For Sale
Contact for pricing
107 W 5th North St, Summerville, SC 29483
Renovated office building with on-site surface parking and potential for individual floor leasing.
Property Size6,578 SF
Price / SF$241.71
Days on Market552
Property Features for 107 W 5th North St
General Information
Standard status
Active
Size
6,578 SF
Property subtype
OFFICE
Listing Agency:
Roadstead Real Estate Advisors LLC
(843) 577-7732
Listed By:
Geoffrey L Groat, Jr
(843) 442-0328
Source:
Moodyscre
Added: Mar 12, 2025
Changed: Aug 14
Last Checked: Sep 13 at 11:43AM
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 Roadstead Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
This office building offers a brand new ground floor renovation and includes on-site surface parking. The layout provides flexibility with potential to lease each floor individually.
The property is conveniently located less than one block from Main Street and is near major banks and numerous Summerville restaurants.
With renovated office space and practical parking on site, the building is suited for office users seeking a multi-floor configuration and the option to control space by level.
The property is conveniently located less than one block from Main Street and is near major banks and numerous Summerville restaurants.
With renovated office space and practical parking on site, the building is suited for office users seeking a multi-floor configuration and the option to control space by level.
Key Highlights
- Brand new ground floor renovation
- On‑site surface parking included
- Potential to lease each floor individually
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
$130,671
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
8.22%
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%
$2,613,420
$2.6M
Cap Rate 7%
$1,866,729
$1.9M
Cap Rate 9%
$1,451,900
$1.5M
Market Conditions
NOI Build-Up for 6,578 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
$195.8K $29.76/SF
− Vacancy
−$21.5K −$3.27/SF
EGI
$174.2K $26.49/SF
− OpEx
−$43.6K −$6.62/SF
NOI
$130.7K $19.86/SF
Area
Dorchester County, SC
Vacancy
11.00%
Lease Rate
$29.76 /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%
$2,613,420
Cap Rate 7%
$1,866,729
Cap Rate 9%
$1,451,900
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,671 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.92M
$4.31M – $5.74M
NOI $344,595 @ 7.0% cap · market cap 21.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 29483, SC
56,778
Population
23,133
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
53.3 sq mi
ZIP Area
1,065
Density / Sq Mi
$82,194
Median Household Income
$42,929
Median Earnings
$1,220
Median Rent
$303,400
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 - Renovated office building with on-site surface parking and potential for individual floor leasing.
Where is this office units located?
The property is located at 107 W 5th North St Summerville, SC.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Brand new ground floor renovation; On‑site surface parking included; Potential to lease each floor individually
