Modern Corner Lot Office
For Sale
$1,575,000
3618 Ashley Phosphate Road, North Charleston, SC 29418
Two-story office building with parking, suitable for owner or investor.
Property Size8,000 SF
Price / SF$196.88
Days on Market161
Property Features for 3618 Ashley Phosphate Road
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Office
Listing Agency:
CBRE | Charleston
(843) 367-6053
Listed By:
Chip Shealy · License #83757
(843) 367-6053
Source:
Cbre
Added: Mar 25
Changed: Aug 13
Last Checked: Aug 31 at 2:32PM
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 CBRE | Charleston
Investment Insights
Based on property information with market context.
This modern, two-story office building, constructed in 2008, is situated on a corner lot and includes ample parking. The property offers excellent visibility and is currently fully occupied with short-term leases. This presents an opportunity for either an owner-occupant or an investor. Current tenants have expressed interest in remaining, making it an appealing investment. There is potential to increase rents or occupy the building. The property has a size of 8000 square feet.
Key Highlights
- Excellent visibility due to corner lot location.
- Available for sale at less than replacement cost.
- Suitable for both owner‑occupants and investors.
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
$107,100
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
6.80%
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%
$2,142,000
$2.1M
Cap Rate 7%
$1,530,000
$1.5M
Cap Rate 9%
$1,190,000
$1.2M
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
$168.0K $21.00/SF
− Vacancy
−$25.2K −$3.15/SF
EGI
$142.8K $17.85/SF
− OpEx
−$35.7K −$4.46/SF
NOI
$107.1K $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%
$2,142,000
Cap Rate 7%
$1,530,000
Cap Rate 9%
$1,190,000
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,100 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,064 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 29418, SC
24,154
Population
12,334
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
1,830
Density / Sq Mi
$62,421
Median Household Income
$41,287
Median Earnings
$1,277
Median Rent
$234,500
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.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with parking, suitable for owner or investor.
Where is this office building located?
The property is located at 3618 Ashley Phosphate Road North Charleston, SC.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Excellent visibility due to corner lot location.; Available for sale at less than replacement cost.; Suitable for both owner‑occupants and investors.
