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    Single-Story Office Building Title is generated by Realmo AI

    255 East Bay Street, Charleston, SC 29401

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    For Lease
    $35 SF/Yr $13,795/Mo (calc)

    Centrally located office building with flexible lease terms and included parking to support medical or professional users.

    Type:Medical Office
    Property size:
    4,730 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:58 am

    Property Features for 255 East Bay Street

    General Information

    Standard status
    Active
    Size
    4,730 SF
    Property subtype
    Medical Office

    Spaces For Lease

    at 255 East Bay Street Contact us

    We can help!

    Listing Contact
    E. David Grubbs, Jr., SIOR

    Listing agent E. David Grubbs, Jr., SIOR

    Listing office

    Listing date Jun 2, 2026

    Source Naicharleston

    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 E. David Grubbs, Jr., SIOR

    HighLights

    • 4,730 SF single‑story office building in City of Charleston’s GB (General Business) zoning
    • Currently leased to Roper Physician Partners; tenant will vacate with notice
    • 6 parking spaces included with the lease; 19 marked spaces in front, 2 marked spaces on Pinckney St, and 2 unmarked spaces in the rear
    • Landlord will consider leasing “as is,” long‑term ground lease, and redevelopment
    • Lease rate listed at $35/SF NNN

    Overview

    This single-story office building totals approximately 4,730 SF and is currently leased by Roper Physician Partners. The tenant will vacate with notice, giving an incoming user an opportunity to take over an existing office configuration. The property may be leased “as is,” and the landlord will also consider a long-term ground lease and redevelopment.

    The building sits within walking distance of the Historic Charleston City Market area and Waterfront Park, with access to surrounding dining and hundreds of hotel rooms. Parking is included with the lease for six spaces, and additional parking is negotiable. The property has 19 marked spaces in front of the building, two marked spaces on Pinckney St, and two unmarked spaces in the rear.

    The existing single-story layout and zoning make this a practical option for office and medical-oriented tenants seeking a downtown presence with on-site parking. For investors, the GB (General Business) zoning and the stated openness to redevelopment or a ground lease provide multiple paths to reposition or operate the asset in the heart of the market.
    Location Intelligence

    Current Use by Public Records

    Robert B. Lowery, ... Physician Olson Cameron Lee Employment Agency Roper St. Francis ... Medical Clinic Joshua H. Lamb, ... Physician Dr. William Carroll Physician

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Olde Towne Veterinary Clinic — 17 Pinckney St, Charleston, SC 29401
    • Olde Towne Veterinary Clinic: Klein Kelli C DVM — 17 Pinckney St, Charleston, SC 29401
    • Mobile Veterinary Surgery LLC — 145 Queen St, Charleston, SC 29401
    • Vetted Solutions — 152 broad st, charleston, sc 29401
    • Elite Charleston Vets — 104 Queen St, Charleston, SC 29401

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Berkeley
    State
    South Carolina
    Longitude
    -79.927969
    Latitude
    32.7825759

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    FAQs

    What type of property is this?
    Medical Office Space - Centrally located office building with flexible lease terms and included parking to support medical or professional users.
    Where is this medical office space located?
    The property is located at 255 East Bay Street Charleston, SC.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: 4,730 SF single‑story office building in City of Charleston’s GB (General Business) zoning; Currently leased to Roper Physician Partners; tenant will vacate with notice; 6 parking spaces included with the lease; 19 marked spaces in front, 2 marked spaces on Pinckney St, and 2 unmarked spaces in the rear
    (843) 814-6111
    We can help!
    Listing Contact
    E. David Grubbs, Jr., SIOR
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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