West Ashley Standalone Office
For Sale
Contact for pricing
1721 Ashley River Road, Charleston, SC 29407
Freestanding office building with high visibility and flexible zoning.
Property Size2,538 SF
Price / SF$393.22
Days on Market101
Property Features for 1721 Ashley River Road
General Information
Standard status
Active
Size
2,538 SF
Property subtype
Special Purpose
Listing Agency:
Dunes Properties Dunes Downtown
Listed By:
Luiz Yamashita · License #South Carolina
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Aug 21 at 12:57PM
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 Dunes Properties Dunes Downtown
Investment Insights
Based on property information with market context.
This standalone office building is located on Ashley River Road in West Ashley. The property is currently configured as an attorney's office, and its layout is suitable for professional office users, including legal, medical, financial, consulting, or creative firms. The property benefits from approximately 38,000 vehicles per day along Ashley River Road, providing exposure and signage potential. The existing floor plan features private offices and offers the flexibility for an owner-user to occupy a portion of the building and generate supplemental income through executive office rentals or shared workspace arrangements. The property is located within the City of Charleston's Limited Business (LB) zoning district, which supports neighborhood-oriented professional office, financial, and retail uses that remain compatible with surrounding residential areas. The zoning encourages a professional and stable business environment while limiting more intensive commercial uses. The property is situated near the intersection of Ashley River Road and Wappoo Road, offering access to the major thoroughfares serving West Ashley, Downtown Charleston, and surrounding residential communities. This location places the property within minutes of restaurants, retail amenities, and key business districts. The property size is 2538 square feet.
Key Highlights
- High Visibility: Located on Ashley River Road with approximately 38,000 vehicles per day.
- Flexible Zoning: Limited Business (LB) zoning allows for a wide range of uses.
- Strategic Location: Convenient access to major thoroughfares, Downtown Charleston.
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
$35,623
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
3.57%
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%
$712,460
$712.5K
Cap Rate 7%
$508,900
$508.9K
Cap Rate 9%
$395,811
$395.8K
Market Conditions
NOI Build-Up for 2,538 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
$56.3K $22.20/SF
− Vacancy
−$8.8K −$3.49/SF
EGI
$47.5K $18.71/SF
− OpEx
−$11.9K −$4.68/SF
NOI
$35.6K $14.04/SF
Area
Charleston, SC
Vacancy
15.70%
Lease Rate
$22.20 /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%
$712,460
Cap Rate 7%
$508,900
Cap Rate 9%
$395,811
Alternative Uses
Best Use
Office B
$508.9K
$445.3K – $593.7K
NOI $35,623 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$686.8K
$601.0K – $801.3K
NOI $48,078 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 29407, SC
35,373
Population
18,723
Households
1.9
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,297
Density / Sq Mi
$80,568
Median Household Income
$51,827
Median Earnings
$1,388
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Office in Charleston, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with high visibility and flexible zoning.
Where is this office building located?
The property is located at 1721 Ashley River Road Charleston, SC.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: High Visibility: Located on Ashley River Road with approximately 38,000 vehicles per day.; Flexible Zoning: Limited Business (LB) zoning allows for a wide range of uses.; Strategic Location: Convenient access to major thoroughfares, Downtown Charleston.
