208 E 2nd North Street, Summerville, SC 29483

Building Details

Buildings 3 More

Tenancy Multi More

Listing Agency: KW Commercial

Listed By: Jillian Weatherford, CCIM · License #121502 Show Phone

Source: Crexi

Added: Oct 26 Changed: Nov 8 Last Checked: Nov 8 at 5:32PM

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Investment Insights

Based on property information with market context.

Three connected buildings provide approximately 6,200 square feet of space on a 0.61-acre site. The interiors are finished, and the current occupants provide personal services. The property is associated with TMS 137-07-14-004.

Situated in downtown Summerville, the site carries reported Town D-MX zoning. That designation allows for mixed-use development that may include housing, retail, offices, and lodging; any changes or development remain subject to Town requirements and approvals.

Key Highlights

• Approximately 6,200 square feet across three connected buildings
• 0.61‑acre site, approximately 26,572 square feet
• Current occupants provide personal services

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$123,162

Cap Rate

7.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,463,240 $2.5M

Cap Rate 7%

$1,759,457 $1.8M

Cap Rate 9%

$1,368,467 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,200 SF

Gross rent

$184.5K $29.76/SF

− Vacancy

−$20.3K −$3.27/SF

EGI

$164.2K $26.49/SF

− OpEx

−$41.1K −$6.62/SF

NOI

$123.2K $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 Rate 5%

$2,463,240

Cap Rate 7%

$1,759,457

Cap Rate 9%

$1,368,467

Alternative Uses

Best Use

Office B

$1.76M

$1.54M – $2.05M (±1% cap)

NOI $123,162 @ 7.0% cap · market cap 7.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.64M

$4.06M – $5.41M (±1% cap)

NOI $324,793 @ 7.0% cap · market cap 19.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Locksmith Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store Storage Facility

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,832

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Connected buildings on a downtown site are occupied by personal service providers.

Where is this office building located?

The property is located at 208 E 2nd North Street Summerville, SC.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: Approximately 6,200 square feet across three connected buildings; 0.61‑acre site, approximately 26,572 square feet; Current occupants provide personal services