Updated Office/Studio Flex
For Sale
Contact for pricing
2135 Dorchester Road, North Charleston, SC 29405
Updated interior with LVP flooring, recessed lighting, and a refreshed kitchenette plus enclosed front porch and rear gravel parking.
Property Size1,130 SF
Price / SF$398.23
Days on Market160
Property Features for 2135 Dorchester Road
General Information
Standard status
Active
Size
1,130 SF
Class
B
Total Parking Spaces
8
Property subtype
Office, Industrial, Retail
Zoning
City of North Charleston - B-1 - Limited Business District
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
1940
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Lighthouse Real Estate
Listed By:
Joe Porter · License #70601
(843) 860-3238
Source:
Crexi
Added: Mar 30
Changed: Aug 31
Last Checked: Sep 3 at 7:54AM
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 Lighthouse Real Estate
Investment Insights
Based on property information with market context.
This updated office/studio flex suite offers a flexible interior layout designed to support a variety of business uses. Interior improvements include durable LVP flooring, recessed lighting, and a refreshed kitchenette with new cabinetry and a tile backsplash. An enclosed front porch provides an inviting entry that can function as a reception or waiting area.
Inside, the space features two large main rooms suited for private offices, conference or meeting space, collaborative work, and showroom-style use. Toward the rear, the updated kitchenette is complemented by an additional office or flex room, a bathroom, and a separate storage area.
The property is positioned along the high-visibility Dorchester Road corridor with convenient access to surrounding residential and commercial growth. Off-street parking is available in a rear gravel parking area for staff and visitors, and the location is within walking distance of South Carolina’s first planned dedicated bus rapid transit system. It is also near the planned redevelopment of the former Naval Hospital site, expected to include 292 live-work apartment units, supporting continued area growth.
Inside, the space features two large main rooms suited for private offices, conference or meeting space, collaborative work, and showroom-style use. Toward the rear, the updated kitchenette is complemented by an additional office or flex room, a bathroom, and a separate storage area.
The property is positioned along the high-visibility Dorchester Road corridor with convenient access to surrounding residential and commercial growth. Off-street parking is available in a rear gravel parking area for staff and visitors, and the location is within walking distance of South Carolina’s first planned dedicated bus rapid transit system. It is also near the planned redevelopment of the former Naval Hospital site, expected to include 292 live-work apartment units, supporting continued area growth.
Key Highlights
- Updated interior includes LVP flooring, recessed lighting, and a refreshed kitchenette with new cabinetry and tile backsplash
- Flexible layout with two large main rooms plus an additional office/flex room, bathroom, and separate storage area
- Enclosed front porch provides an inviting entry for reception or waiting use
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
$15,128
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
3.36%
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%
$302,560
$302.6K
Cap Rate 7%
$216,114
$216.1K
Cap Rate 9%
$168,089
$168.1K
Market Conditions
NOI Build-Up for 1,130 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
$23.7K $21.00/SF
− Vacancy
−$3.6K −$3.15/SF
EGI
$20.2K $17.85/SF
− OpEx
−$5.0K −$4.46/SF
NOI
$15.1K $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%
$302,560
Cap Rate 7%
$216,114
Cap Rate 9%
$168,089
Alternative Uses
Best Use
Office B
$216.1K
$189.1K – $252.1K
NOI $15,128 @ 7.0% cap · market cap 3.36%
Second Best
Retail
$187.1K
$163.7K – $218.3K
NOI $13,099 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$306.8K
$268.5K – $358.0K
NOI $21,479 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
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?
Office units - Updated interior with LVP flooring, recessed lighting, and a refreshed kitchenette plus enclosed front porch and rear gravel parking.
Where is this office units located?
The property is located at 2135 Dorchester Road North Charleston, SC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Updated interior includes LVP flooring, recessed lighting, and a refreshed kitchenette with new cabinetry and tile backsplash; Flexible layout with two large main rooms plus an additional office/flex room, bathroom, and separate storage area; Enclosed front porch provides an inviting entry for reception or waiting use
