Building Details

Year Built 1974

Year Renovated 2017

Buildings 1

Building Size 41,885 SF

Listing Agency: Charleston – Morrison Show Phone

Listed By: Thomas Buist Show Phone

Source: Colliers

Added: May 14 Changed: Aug 29 Last Checked: Aug 29 at 9:08PM

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Investment Insights

Based on property information with market context.

This vacant manufacturing property contains ±41,885 SF across office and industrial production areas on ±5.37 acres. The building includes ±6,043 SF of office space and ±35,842 SF dedicated to warehouse and manufacturing functions. Office improvements date to around 2015, while a conference room was added within the warehouse in 2017. The interior offers a broad production floor, enclosed work areas, and clear heights ranging from approximately 20' to 26'.

Seven drive-in doors, crane rails in both bays, and a conveying 5-ton bridge crane with 14'4'' under hook support industrial operations. Electrical service is 800 amp, 3-phase, 277/480V, with natural gas, public water, and sewer. The site also provides ±2.50 acres of additional land, paved and concrete truck circulation, and on-site parking. The property is zoned Industrial in the City of Hanahan, approximately 1.13 miles from I-526, and has potential rear rail access via CSX.

Key Highlights

• ±41,885 SF manufacturing facility on ±5.37 acres
• ±2.50 acres of additional land for expansion, outdoor storage, or parking
• ±6,043 SF office and ±35,842 SF warehouse/manufacturing 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

$240,888

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

3.79%

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%

$4,817,760 $4.8M

Cap Rate 7%

$3,441,257 $3.4M

Cap Rate 9%

$2,676,533 $2.7M

Market Conditions

NOI Build-Up for 41,885 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

$321.7K $7.68/SF

− Vacancy

−$38.3K −$0.91/SF

EGI

$283.4K $6.77/SF

− OpEx

−$42.5K −$1.01/SF

NOI

$240.9K $5.75/SF

Area

Berkeley County, SC

Vacancy

11.90%

Lease Rate

$7.68 /SF/Yr

Expense Ratio

15.00%

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%

$4,817,760

Cap Rate 7%

$3,441,257

Cap Rate 9%

$2,676,533

Alternative Uses

Best Use

Warehouse

$3.44M

$3.01M – $4.01M (±1% cap)

NOI $240,888 @ 7.0% cap · market cap 3.79%

Second Best

Industrial

$2.83M

$2.48M – $3.31M (±1% cap)

NOI $198,378 @ 7.0% cap · market cap 3.12%

Theoretical Best

Office A

$11.33M

$9.92M – $13.22M (±1% cap)

NOI $793,436 @ 7.0% cap · market cap 12.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Manufacturing properties

Suggested Use

Top Pick Restaurant Real Estate Agency Dental Office Parking Lot & Garage Law Firm Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

26 ft

Clear height

7

Drive-in doors

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

243

Businesses Nearby

Explore this area Business Placement

Demographics for 29410, SC

20,238

Population

8,501

Households

2.4

Avg Household Size

36

Median Age

38%

College-Educated

94%

High-School Grad

10.5 sq mi

ZIP Area

1,927

Density / Sq Mi

$84,061

Median Household Income

$53,195

Median Earnings

$1,324

Median Rent

$339,800

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Vacant industrial property combines office, warehouse, and production areas with heavy-power service and direct truck circulation.

Where is this manufacturing property located?

The property is located at 915 Commerce Cir Hanahan, SC.

What is the asking price?

The asking price for this property is $6,360,000.

What are key features of this property?

This property features: ±41,885 SF manufacturing facility on ±5.37 acres; ±2.50 acres of additional land for expansion, outdoor storage, or parking; ±6,043 SF office and ±35,842 SF warehouse/manufacturing space