North Charleston Multifamily Investment
For Sale
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3360 Apache St, North Charleston, SC 29405
Multifamily property in North Charleston, offering value-add potential.
Property Size31,500 SF
Price / SF$201.59
Days on Market181
Property Features for 3360 Apache St
General Information
Standard status
Active
Size
31,500 SF
Class
C
Total Parking Spaces
40
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$397,000
Building Details
Year Built
1972
Buildings
5
Stories
2
Units
60
Listing Agency:
Maven Realty
(843) 817-4431
Listed By:
Troy Gandee · License #84320
Source:
Crexi
Added: Mar 1
Changed: Aug 17
Last Checked: Aug 29 at 2:50AM
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 Maven Realty
Investment Insights
Based on property information with market context.
This multifamily property, situated in a dynamic North Charleston neighborhood, presents a value-add opportunity. The property encompasses a total size of 31,500 square feet.
Key Highlights
- Value add opportunity awaits.
- Located in a dynamic North Charleston neighborhood.
- Year Built: 1972.
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
$387,526
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
6.10%
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%
$7,750,520
$7.8M
Cap Rate 7%
$5,536,086
$5.5M
Cap Rate 9%
$4,305,844
$4.3M
Market Conditions
NOI Build-Up for 31,500 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
$756.0K $24.00/SF
− Vacancy
−$51.4K −$1.63/SF
EGI
$704.6K $22.37/SF
− OpEx
−$317.1K −$10.07/SF
NOI
$387.5K $12.30/SF
Area
North Charleston, SC
Vacancy
6.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
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%
$7,750,520
Cap Rate 7%
$5,536,086
Cap Rate 9%
$4,305,844
Alternative Uses
Best Use
Apartment 5plus
$5.54M
$4.84M – $6.46M
NOI $387,526 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.55M
$7.48M – $9.98M
NOI $598,752 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in North Charleston, offering value-add potential.
Where is this apartment building located?
The property is located at 3360 Apache St North Charleston, SC.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Value add opportunity awaits.; Located in a dynamic North Charleston neighborhood.; Year Built: 1972.
