Fully Renovated Warehouse-Office
For Sale
Contact for pricing
2532 Spruill Avenue, North Charleston, SC 29405
Fully conditioned warehouse and office space with renovated systems, polished concrete floors, and modern office buildout.
Property Size26,930 SF
Lot Size1.73 Acres
Price / SF$215
Days on Market87
Property Features for 2532 Spruill Avenue
General Information
Standard status
Active
Size
26,930 SF
Total Parking Spaces
13
Lot size
1.73 Acres
Property subtype
Industrial
Zoning
City of North Charleston - M-2 - Heavy Industrial District
Lease Type
NNN
Warehouse & Industrial
Drive-In Doors
4
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2024
Tenancy
Single
Listing Agency:
Colliers - Charleston, South Carolina
Listed By:
Jon-Michael Brock · License #95977
(843) 203-1056
Source:
Crexi
Added: Jul 26
Changed: Oct 18
Last Checked: Oct 19 at 5:40AM
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 Colliers - Charleston, South Carolina
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Investment Insights
Based on property information with market context.
This fully conditioned warehouse and office facility totals 27,840 square feet and was fully renovated with a new roof, HVAC and sprinkler systems, polished concrete floors, and updated electrical and lighting. Interior improvements include mechanical upgrades, restrooms, and plumbing throughout. The office component provides 3,900 square feet with three large private offices plus an open lobby/showroom area with modern finishing.
The property sits on 1.73 acres inside the I-526 loop. In addition to the main building, there are four storage buildings on-site that are not included in the stated total square footage. Each storage building has its own drive-in roll-up door.
The property sits on 1.73 acres inside the I-526 loop. In addition to the main building, there are four storage buildings on-site that are not included in the stated total square footage. Each storage building has its own drive-in roll-up door.
Key Highlights
- +27,840 SF fully conditioned warehouse/office space on +1.73 acres inside the I‑526 loop
- Building fully renovated with new roof, HVAC/sprinkler systems, polished concrete floors, and updated electric, lighting, mechanical
- +3,900 SF office space with three large private offices and an open lobby/showroom area with modern finishing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$277,271
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,545,420
$5.5M
Cap Rate 7%
$3,961,014
$4.0M
Cap Rate 9%
$3,080,789
$3.1M
Market Conditions
NOI Build-Up for 26,930 SF
Gross rent
$484.7K $18.00/SF
− Vacancy
−$58.2K −$2.16/SF
EGI
$426.6K $15.84/SF
− OpEx
−$149.3K −$5.54/SF
NOI
$277.3K $10.30/SF
Area
North Charleston, SC
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,545,420
Cap Rate 7%
$3,961,014
Cap Rate 9%
$3,080,789
Alternative Uses
Best Use
Flex RnD
$3.96M
$3.47M – $4.62M
NOI $277,271 @ 7.0% cap · market cap 4.79%
Second Best
Warehouse
$2.21M
$1.94M – $2.58M
NOI $154,879 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$7.31M
$6.40M – $8.53M
NOI $511,885 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
224
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Fully conditioned warehouse and office space with renovated systems, polished concrete floors, and modern office buildout.
Where is this flex space located?
The property is located at 2532 Spruill Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $5,790,000.
What are key features of this property?
This property features: +27,840 SF fully conditioned warehouse/office space on +1.73 acres inside the I‑526 loop; Building fully renovated with new roof, HVAC/sprinkler systems, polished concrete floors, and updated electric, lighting, mechanical; +3,900 SF office space with three large private offices and an open lobby/showroom area with modern finishing
