Multi-Tenant Light Industrial
For Sale
$3,800,000
339 Fleming Rd, Charleston, SC 29412
Three fully conditioned light industrial buildings with eight roll-up doors and secure gated access, plus 45+ boat/RV parking spaces.
Property Size11,783 SF
Lot Size1.72 Acres
Price / SF$322.50
Days on Market75
Property Features for 339 Fleming Rd
General Information
Standard status
Active
Size
11,783 SF
Lot size
1.72 Acres
Property subtype
Office Warehouse
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
secure gated access
Rare Light Industrial Zoned asset on James Island (Charleston)
Supply-Constrained Submarket. High Demand for Space and Low Supply
8 Oversized Roll-Up Doors, Secure Gated Access, Functional Multi-Tenant Layout
6 Tenants Across 3 Buildings
Boat & RV storage. 45+ Parking Spaces. Significant Additional Income Stream with Ability to Increase Rents
All Gross Leases at Below-Market Rents
Building Details
Building Size
11,783 SF
Year Built
1990
Tenancy
Multi
Listing Agency:
Charleston Office
Listed By:
Harrison Creason · License #License(s): SC: 91161, NC: LC1015
(843) 952-2257
Source:
Marcusmillichap
Added: Jun 23
Changed: Sep 3
Last Checked: Sep 5 at 4:01AM
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 Charleston Office
Investment Insights
Based on property information with market context.
339 Fleming Road is a multi-tenant light industrial property with three fully conditioned buildings totaling 11,783 square feet on a 1.72-acre site. The complex includes eight roll-up doors and secure gated access, with a functional layout that accommodates six tenants across the buildings.
Leases are structured on gross terms, and the current rents are described as below-market. In addition to building income, the property generates revenue from 45+ boat and RV parking spaces, with room to increase parking rents.
The site also provides ample space for expansion, laydown yard, and parking, supporting ongoing flexibility for tenant operations within the existing industrial configuration.
Leases are structured on gross terms, and the current rents are described as below-market. In addition to building income, the property generates revenue from 45+ boat and RV parking spaces, with room to increase parking rents.
The site also provides ample space for expansion, laydown yard, and parking, supporting ongoing flexibility for tenant operations within the existing industrial configuration.
Key Highlights
- Three fully conditioned light industrial buildings totaling 11,783 SF, built in 1990
- 1.72‑acre multi‑tenant setup with six tenants across the buildings
- Eight roll‑up doors plus secure gated access for tenant and yard operations
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
$154,752
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
4.07%
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%
$3,095,040
$3.1M
Cap Rate 7%
$2,210,743
$2.2M
Cap Rate 9%
$1,719,467
$1.7M
Market Conditions
NOI Build-Up for 11,783 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
$209.3K $17.76/SF
− Vacancy
−$27.2K −$2.31/SF
EGI
$182.1K $15.45/SF
− OpEx
−$27.3K −$2.32/SF
NOI
$154.8K $13.13/SF
Area
Charleston, SC
Vacancy
13.00%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
15.00%
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%
$3,095,040
Cap Rate 7%
$2,210,743
Cap Rate 9%
$1,719,467
Alternative Uses
Best Use
Warehouse
$2.21M
$1.93M – $2.58M
NOI $154,752 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,208 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29412, SC
39,687
Population
18,429
Households
2.2
Avg Household Size
40
Median Age
55%
College-Educated
96%
High-School Grad
39.2 sq mi
ZIP Area
1,012
Density / Sq Mi
$99,443
Median Household Income
$54,757
Median Earnings
$1,744
Median Rent
$458,000
Median Home Value
Market
Vacancy Rate% for Industrial in Charleston, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Extra Space Storage — 1951 Maybank Hwy, Charleston, SC 29412
Frequently Asked Questions
What type of property is this?
Warehouse - Three fully conditioned light industrial buildings with eight roll-up doors and secure gated access, plus 45+ boat/RV parking spaces.
Where is this warehouse located?
The property is located at 339 Fleming Rd Charleston, SC.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Three fully conditioned light industrial buildings totaling 11,783 SF, built in 1990; 1.72‑acre multi‑tenant setup with six tenants across the buildings; Eight roll‑up doors plus secure gated access for tenant and yard operations
