Storefront Retail Building with
For Sale
$550,000
3356 Rivers Avenue, North Charleston, SC 29405
The property offers B-2 zoning, on-site parking, and access to Cosgrove Avenue and I-26.
Property Size2,667 SF
Lot Size0.38 Acres
Price / SF$206.22
Days on Market91
Property Features for 3356 Rivers Avenue
General Information
Standard status
Active
Size
2,667 SF
Total Parking Spaces
20
Lot size
0.38 Acres
Property subtype
Retail on Rivers Avenue
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
2,667 SF
Buildings
1
Listing Agency:
(843) 814-6111
Listed By:
E. David Grubbs, Jr., SIOR
Source:
Naicharleston
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 2:51PM
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
Investment Insights
Based on property information with market context.
This storefront property comprises a ±2,667-square-foot retail building on approximately ±0.38 acres. The site provides 20 on-site parking spaces and carries B-2 zoning.
Located on Rivers Avenue in North Charleston, the property offers access to Cosgrove Avenue and I-26. It is also identified as being within Opportunity Zone 20 and is available for sale.
Located on Rivers Avenue in North Charleston, the property offers access to Cosgrove Avenue and I-26. It is also identified as being within Opportunity Zone 20 and is available for sale.
Key Highlights
- ±2,667 SF retail building
- ±0.38 AC site
- 20 on‑site parking spaces
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
$30,916
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
5.62%
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%
$618,320
$618.3K
Cap Rate 7%
$441,657
$441.7K
Cap Rate 9%
$343,511
$343.5K
Market Conditions
NOI Build-Up for 2,667 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
$48.0K $18.00/SF
− Vacancy
−$3.8K −$1.44/SF
EGI
$44.2K $16.56/SF
− OpEx
−$13.2K −$4.97/SF
NOI
$30.9K $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%
$618,320
Cap Rate 7%
$441,657
Cap Rate 9%
$343,511
Alternative Uses
Best Use
Retail
$441.7K
$386.5K – $515.3K
NOI $30,916 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$724.2K
$633.7K – $844.9K
NOI $50,694 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
57k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Storefront property - The property offers B-2 zoning, on-site parking, and access to Cosgrove Avenue and I-26.
Where is this storefront property located?
The property is located at 3356 Rivers Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: ±2,667 SF retail building; ±0.38 AC site; 20 on‑site parking spaces
