Light Industrial Flex
For Sale
Contact for pricing
3605 Meeting Street Road, North Charleston, SC 29405
Two freestanding light industrial buildings total about 7,726 SF on roughly 0.64 acres, zoned M-1 and currently delivered vacant.
Property Size7,726 SF
Lot Size0.64 Acres
Price / SF$152.08
Days on Market222
Property Features for 3605 Meeting Street Road
General Information
Standard status
Active
Size
7,726 SF
Lot size
0.64 Acres
Property subtype
Retail, Office, Industrial
Zoning
City of North Charleston - M-1 - Light Industrial District
Additional Details
Road Access
Yes
Building Details
Year Built
1970
Listing Agency:
Dunes Commercial Properties
Listed By:
Lucas Beni · License #123137
Source:
Crexi
Added: Jan 27
Changed: Sep 2
Last Checked: Sep 2 at 4:49AM
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 Dunes Commercial Properties
Investment Insights
Based on property information with market context.
The property at 3605 Meeting Street Road includes two freestanding buildings totaling approximately 7,726 square feet (about +/- 3,863 SF each) on roughly +/- 0.64 acres. Zoned M-1 (Light Industrial), the buildings are currently occupied by a medical practice and are being delivered vacant, providing flexibility for an owner-user or investor. The layout can be used as a single operation or reconfigured into multiple suites to support a range of commercial uses.
The site offers prominent frontage along Meeting Street Road and includes a large rear parking and laydown area suited to contractors, service companies, fleet users, or businesses needing outdoor storage. Convenient access to major transportation routes supports practical operations for light industrial, flex, office, or service-oriented users.
This offering is structured around a flexible, light industrial site with two standalone buildings and significant outdoor work/storage space, with the option to operate as one business or divide into multiple suites.
The site offers prominent frontage along Meeting Street Road and includes a large rear parking and laydown area suited to contractors, service companies, fleet users, or businesses needing outdoor storage. Convenient access to major transportation routes supports practical operations for light industrial, flex, office, or service-oriented users.
This offering is structured around a flexible, light industrial site with two standalone buildings and significant outdoor work/storage space, with the option to operate as one business or divide into multiple suites.
Key Highlights
- Two freestanding buildings totaling approximately 7,726 SF (+/- 3,863 SF each) on about 0.64 acres
- Zoned M‑1 (Light Industrial) with potential to support light industrial, flex, office, or service‑oriented uses
- Currently occupied by a medical practice and being delivered vacant
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
$103,432
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
8.80%
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%
$2,068,640
$2.1M
Cap Rate 7%
$1,477,600
$1.5M
Cap Rate 9%
$1,149,244
$1.1M
Market Conditions
NOI Build-Up for 7,726 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
$162.2K $21.00/SF
− Vacancy
−$24.3K −$3.15/SF
EGI
$137.9K $17.85/SF
− OpEx
−$34.5K −$4.46/SF
NOI
$103.4K $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%
$2,068,640
Cap Rate 7%
$1,477,600
Cap Rate 9%
$1,149,244
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,432 @ 7.0% cap · market cap 8.80%
Second Best
Healthcare Medical
$1.43M
$1.25M – $1.67M
NOI $100,129 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,856 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Balanced
Demand for This Use
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two freestanding light industrial buildings total about 7,726 SF on roughly 0.64 acres, zoned M-1 and currently delivered vacant.
Where is this flex space located?
The property is located at 3605 Meeting Street Road North Charleston, SC.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Two freestanding buildings totaling approximately 7,726 SF (+/- 3,863 SF each) on about 0.64 acres; Zoned M‑1 (Light Industrial) with potential to support light industrial, flex, office, or service‑oriented uses; Currently occupied by a medical practice and being delivered vacant
