Retail Space in Redeveloping
For Sale
Contact for pricing
Pending
3315 Rivers Avenue, North Charleston, SC 29405
Retail space with redevelopment potential in a prime location.
Property Size8,000 SF
Days on Market97
Property Features for 3315 Rivers Avenue
General Information
Standard status
Pending
Size
8,000 SF
Property subtype
Retail
Zoning
City of North Charleston - B-2 - General Business District
Listing Agency:
KW Commercial
(843) 767-7777
Listed By:
Jillian Weatherford, CCIM · License #121502
Source:
Crexi
Added: May 25
Changed: Aug 8
Last Checked: Jul 24 at 4:32PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This retail space is located in an area undergoing redevelopment with new restaurants and attractions. The property offers an opportunity to invest before potential price increases. The initial lease term has 3 years remaining, with one 5-year option available. The property is situated in an excellent location on Rivers Avenue.
Key Highlights
- Excellent location at the intersection of Cosgrove, Rivers, and Reynolds
- Redeveloping area with popular
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
$92,736
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
7.42%
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%
$1,854,720
$1.9M
Cap Rate 7%
$1,324,800
$1.3M
Cap Rate 9%
$1,030,400
$1.0M
Market Conditions
NOI Build-Up for 8,000 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
$144.0K $18.00/SF
− Vacancy
−$11.5K −$1.44/SF
EGI
$132.5K $16.56/SF
− OpEx
−$39.7K −$4.97/SF
NOI
$92.7K $11.59/SF
Area
North Charleston, SC
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,854,720
Cap Rate 7%
$1,324,800
Cap Rate 9%
$1,030,400
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,064 @ 7.0% cap · market cap 12.17%
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
57k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 32%
Groceries 17%
Electronics 2%
McDonald's
Dining
15,830 visits/mo
0.4 miles
Restaurant Depot
Groceries
9,682 visits/mo
0.2 miles
Family Dollar
Shops & Services
8,151 visits/mo
0.5 miles
Exxon
Shops & Services
6,026 visits/mo
0.4 miles
BP
Shops & Services
5,960 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with redevelopment potential in a prime location.
Where is this retail space located?
The property is located at 3315 Rivers Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Excellent location at the intersection of Cosgrove, Rivers, and Reynolds; Redeveloping area with popular
