Day Care Center with Office
For Sale
$2,300,000
1910 McMillan Avenue North, Charleston, SC 29405
Former childcare facility with adaptability for medical, professional, religious, or financial service operations.
Property Size12,895 SF
Price / SF$178.36
Days on Market193
Property Features for 1910 McMillan Avenue North
General Information
Standard status
Active
Size
12,895 SF
Property subtype
Schools/Education
Building Details
Building Size
12,895 SF
Properties For Sale
at 1910 McMillan Avenue North Contact us- Size
- 12,895 SF
- Lease Type
- NNN
1910 McMillan Ave
Listing Agency:
NAI Charleston
(843) 518-5310
Listed By:
David Grubbs · License #12145
(843) 518-5310
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:57PM
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 NAI Charleston
Investment Insights
Based on property information with market context.
This ±12,895 SF commercial property was previously used as a daycare and is now offered for sale. The building’s established childcare configuration supports continued consideration as a daycare or preschool, while the source information also identifies medical and professional office, church, and financial service uses as potential alternatives.
The property is located at 1910 McMillan Avenue in North Charleston, just outside the Navy Yard redevelopment project. Planned components of that project include retail, office, residential, and mixed-use development. The Lowcountry Rapid Transit System is scheduled for 2026 and is planned to connect Charleston, North Charleston, and Summerville.
The property is located at 1910 McMillan Avenue in North Charleston, just outside the Navy Yard redevelopment project. Planned components of that project include retail, office, residential, and mixed-use development. The Lowcountry Rapid Transit System is scheduled for 2026 and is planned to connect Charleston, North Charleston, and Summerville.
Key Highlights
- ±12,895 SF former daycare facility
- Located at 1910 McMillan Avenue, North Charleston, SC 29405
- Potential uses include daycare, preschool, medical or professional office, church, and financial services
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
$181,849
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
7.91%
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%
$3,636,980
$3.6M
Cap Rate 7%
$2,597,843
$2.6M
Cap Rate 9%
$2,020,544
$2.0M
Market Conditions
NOI Build-Up for 12,895 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
$332.7K $25.80/SF
− Vacancy
−$29.6K −$2.30/SF
EGI
$303.1K $23.50/SF
− OpEx
−$121.2K −$9.40/SF
NOI
$181.8K $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%
$3,636,980
Cap Rate 7%
$2,597,843
Cap Rate 9%
$2,020,544
Alternative Uses
Best Use
Healthcare Medical
$2.60M
$2.27M – $3.03M
NOI $181,849 @ 7.0% cap · market cap 7.91%
Second Best
Office B
$2.59M
$2.26M – $3.02M
NOI $180,994 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,273 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29405, SC
25,620
Population
13,058
Households
2
Avg Household Size
37
Median Age
27%
College-Educated
84%
High-School Grad
14.7 sq mi
ZIP Area
1,743
Density / Sq Mi
$54,566
Median Household Income
$35,887
Median Earnings
$1,196
Median Rent
$266,200
Median Home Value
Market
Vacancy Rate% for Office in Charleston, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kingdom Treasures Child Center — 3680 Meeting Street Rd, North Charleston, SC 29405
- Discovery School — 1910 mcmillan ave, north charleston, sc 29405
- Nia Infant, Toddler, & Child Development Center — 2007 Helm Ave, Charleston, SC 29405
- Toddlers Academy & Pre School — 4146 Rivers Ave, North Charleston, SC 29405
Frequently Asked Questions
What type of property is this?
Day care center - Former childcare facility with adaptability for medical, professional, religious, or financial service operations.
Where is this day care center located?
The property is located at 1910 McMillan Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: ±12,895 SF former daycare facility; Located at 1910 McMillan Avenue, North Charleston, SC 29405; Potential uses include daycare, preschool, medical or professional office, church, and financial services
