Two-Story Medical Office
For Sale
$1,300,000
1845 Savage Rd, Charleston, SC 29407
Standalone clinical facility with a durable exterior and an existing medical layout.
Property Size3,383 SF
Price / SF$384.27
Days on Market110
Property Features for 1845 Savage Rd
General Information
Standard status
Active
Size
3,383 SF
Property subtype
Healthcare
Building Details
Year Built
2000
Buildings
1
Stories
2
Building Size
3,383 SF
Construction
block/stucco
Listing Agency:
Charleston – Morrison
(843) 720-7501
Listed By:
Bob Nuttall · License #114742
(843) 720-7501
Source:
Colliers
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 5:09PM
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 Charleston – Morrison
Investment Insights
Based on property information with market context.
This standalone medical office property at 1845 Savage Rd in Charleston, SC, contains approximately 3,383 SF across two stories. The building was constructed in 2000 on a concrete slab foundation and features a paintable block and stucco exterior.
Interior finishes include wood, tile, and carpet flooring. The floor plan is configured for clinical use, providing an existing medical-office arrangement for an owner-user or healthcare operation.
Interior finishes include wood, tile, and carpet flooring. The floor plan is configured for clinical use, providing an existing medical-office arrangement for an owner-user or healthcare operation.
Key Highlights
- Approximately 3,383 SF of medical office space
- Two‑story building constructed in 2000
- Standalone facility at 1845 Savage Rd, Charleston, SC 29407
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
$47,708
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%
$954,160
$954.2K
Cap Rate 7%
$681,543
$681.5K
Cap Rate 9%
$530,089
$530.1K
Market Conditions
NOI Build-Up for 3,383 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
$87.3K $25.80/SF
− Vacancy
−$7.8K −$2.30/SF
EGI
$79.5K $23.50/SF
− OpEx
−$31.8K −$9.40/SF
NOI
$47.7K $14.10/SF
Area
Charleston, SC
Vacancy
8.90%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
40.00%
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%
$954,160
Cap Rate 7%
$681,543
Cap Rate 9%
$530,089
Alternative Uses
Best Use
Healthcare Medical
$681.5K
$596.4K – $795.1K
NOI $47,708 @ 7.0% cap · market cap 3.67%
Second Best
Office B
$678.3K
$593.6K – $791.4K
NOI $47,484 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$915.5K
$801.1K – $1.07M
NOI $64,085 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Standalone clinical facility with a durable exterior and an existing medical layout.
Where is this medical office space located?
The property is located at 1845 Savage Rd Charleston, SC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 3,383 SF of medical office space; Two‑story building constructed in 2000; Standalone facility at 1845 Savage Rd, Charleston, SC 29407
