Fenced-Yard Flex
For Sale
Contact for pricing
3285 Associate Drive, North Charleston, SC 29418
Vacant flex property combining private offices, warehouse space, a drive-in door, and secured outdoor storage.
Property Size3,750 SF
Price / SF$400
Days on Market141
Property Features for 3285 Associate Drive
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Industrial, Mixed Use, Office, Business for Sale
Zoning
City of North Charleston - M-1 - Light Industrial District
Building Details
Year Built
1984
Listing Agency:
The Boulevard Company
Listed By:
Al Simmons · License #SC 94799
Source:
Crexi
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 25 at 6:27AM
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 The Boulevard Company
Investment Insights
Based on property information with market context.
This standalone flex building at 3285 Associate Dr in North Charleston combines professional office and warehouse components on a 0.99-acre site. The 3,750-square-foot building includes 1,750 square feet of office area and 2,000 square feet of warehouse space, with a drive-in door and a fully fenced yard. A 900-square-foot open storage shed at the rear adds covered space for equipment or materials.
The office layout provides six private offices, a reception area, conference room, three renovated restrooms, including one with a shower, and additional closet and storage areas. Restroom improvements have been completed, and the building is currently vacant. Its location offers access to the Charleston MSA, while the metal structure and stucco façade provide a defined commercial presence.
The office layout provides six private offices, a reception area, conference room, three renovated restrooms, including one with a shower, and additional closet and storage areas. Restroom improvements have been completed, and the building is currently vacant. Its location offers access to the Charleston MSA, while the metal structure and stucco façade provide a defined commercial presence.
Key Highlights
- 3,750 SF flex building with 1,750 SF office and 2,000 SF warehouse space
- 0.99‑acre site with fully fenced yard area
- 900 SF open storage shed at the rear
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
$50,203
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
3.35%
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%
$1,004,060
$1.0M
Cap Rate 7%
$717,186
$717.2K
Cap Rate 9%
$557,811
$557.8K
Market Conditions
NOI Build-Up for 3,750 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
$78.8K $21.00/SF
− Vacancy
−$11.8K −$3.15/SF
EGI
$66.9K $17.85/SF
− OpEx
−$16.7K −$4.46/SF
NOI
$50.2K $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%
$1,004,060
Cap Rate 7%
$717,186
Cap Rate 9%
$557,811
Alternative Uses
Best Use
Office B
$717.2K
$627.5K – $836.7K
NOI $50,203 @ 7.0% cap · market cap 3.35%
Second Best
Flex RnD
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,280 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29418, SC
24,154
Population
12,334
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
1,830
Density / Sq Mi
$62,421
Median Household Income
$41,287
Median Earnings
$1,277
Median Rent
$234,500
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 - Vacant flex property combining private offices, warehouse space, a drive-in door, and secured outdoor storage.
Where is this flex space located?
The property is located at 3285 Associate Drive North Charleston, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,750 SF flex building with 1,750 SF office and 2,000 SF warehouse space; 0.99‑acre site with fully fenced yard area; 900 SF open storage shed at the rear
