Flex Building with Office
For Sale
Contact for pricing
2118 Cosgrove Avenue, North Charleston, SC 29405
Flexible office and warehouse configuration includes private offices, showroom space, kitchen, and operational warehouse features.
Property Size10,110 SF
Price / SF$217.61
Days on Market44
Property Features for 2118 Cosgrove Avenue
General Information
Standard status
Active
Size
10,110 SF
Property subtype
Industrial, Self Storage, Retail, Office
Zoning
City of North Charleston - B-2 - General Business District
Warehouse & Industrial
Warehouse Space
6,432 SF
Office Build-Out
3,534 SF
Three-Phase Power
Yes
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Amenities
conference room
full kitchen
private offices
additional offices
half baths
full bathroom with shower
roll-up door
rear exit door
compressor
storage racks
LED lighting
Building Details
Year Built
1990
Buildings
1
Building Size
10,110 SF
Listing Agency:
RE/MAX Pro Realty
(843) 767-7777
Listed By:
Chris Garcia · License #46361
Source:
Crexi
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 29 at 6:34PM
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 RE/MAX Pro Realty
Investment Insights
Based on property information with market context.
This 10,110-square-foot flex building combines 6,432 square feet of warehouse area with 3,534 square feet of office and showroom space, plus a 144-square-foot overhung area. The layout includes a conference room, full kitchen, six private offices, two additional smaller offices, two half baths, and a full bathroom with shower. Warehouse improvements include a roll-up door, rear exit, half bath, compressor, storage racks, and three-phase power at the pole. Three HVAC units are approximately 7 years old, with new compressors installed in August 2025, and LED lighting extends throughout the office and warehouse areas.
Located at 2118 Cosgrove Avenue in North Charleston, the property is approximately three blocks from I-26 and approximately three blocks from the new entrance to the Navy Base Redevelopment District. The site is zoned City of North Charleston B-2, General Business District, and is identified as an Opportunity Zone.
Located at 2118 Cosgrove Avenue in North Charleston, the property is approximately three blocks from I-26 and approximately three blocks from the new entrance to the Navy Base Redevelopment District. The site is zoned City of North Charleston B-2, General Business District, and is identified as an Opportunity Zone.
Key Highlights
- 10,110‑square‑foot flex building with 6,432 square feet of warehouse and 3,534 square feet of office/showroom space
- Six private offices, two additional smaller offices, conference room, and full kitchen
- Warehouse includes roll‑up door, rear exit door, half bath, compressor, and storage racks
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
$135,348
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
6.15%
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%
$2,706,960
$2.7M
Cap Rate 7%
$1,933,543
$1.9M
Cap Rate 9%
$1,503,867
$1.5M
Market Conditions
NOI Build-Up for 10,110 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
$212.3K $21.00/SF
− Vacancy
−$31.8K −$3.15/SF
EGI
$180.5K $17.85/SF
− OpEx
−$45.1K −$4.46/SF
NOI
$135.3K $13.39/SF
Area
North Charleston, SC
Vacancy
15.00%
Lease Rate
$21.00 /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%
$2,706,960
Cap Rate 7%
$1,933,543
Cap Rate 9%
$1,503,867
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.26M
NOI $135,348 @ 7.0% cap · market cap 6.15%
Second Best
Flex RnD
$1.49M
$1.30M – $1.73M
NOI $104,093 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,171 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Balanced
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 South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible office and warehouse configuration includes private offices, showroom space, kitchen, and operational warehouse features.
Where is this flex space located?
The property is located at 2118 Cosgrove Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10,110‑square‑foot flex building with 6,432 square feet of warehouse and 3,534 square feet of office/showroom space; Six private offices, two additional smaller offices, conference room, and full kitchen; Warehouse includes roll‑up door, rear exit door, half bath, compressor, and storage racks
