North Charleston Medical Office
For Sale
Contact for pricing
Pending
3800 Faber Place Drive, North Charleston, SC 29405
Commercial property suitable for medical or professional office use.
Property Size4,345 SF
Days on Market201
Property Features for 3800 Faber Place Drive
General Information
Standard status
Pending
Size
4,345 SF
Total Parking Spaces
34
Property subtype
Office
Zoning
City of North Charleston - ON - Office Neighborhood District
Building Details
Year Built
1992
Stories
1
Listing Agency:
Carolina One Real Estate Summerville
(843) 452-6393
Listed By:
Michael Sally · License #40753
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 25 at 7:30AM
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 Carolina One Real Estate Summerville
Investment Insights
Based on property information with market context.
Located in the commercial corridor of North Charleston, 3800 Faber Place Drive presents an opportunity for owner-users or investors. The 4,345 square-foot property is currently configured as a medical office building, suitable for continued medical or professional office use. The layout includes 11 exam rooms, a central office, two waiting rooms, three doctors' offices, a nurses' work area, and treatment rooms. The property benefits from regional connectivity, with convenient access to major transportation routes, Charleston International Airport, and the area's industrial and commercial centers within the Lowcountry's commercial market.
Key Highlights
- Excellent regional connectivity in an active commercial market.
- Flexible commercial asset suitable for owner‑users or investors.
- Well‑established commercial corridor location in North Charleston.
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
$58,169
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
3.88%
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%
$1,163,380
$1.2M
Cap Rate 7%
$830,986
$831.0K
Cap Rate 9%
$646,322
$646.3K
Market Conditions
NOI Build-Up for 4,345 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
$91.2K $21.00/SF
− Vacancy
−$13.7K −$3.15/SF
EGI
$77.6K $17.85/SF
− OpEx
−$19.4K −$4.46/SF
NOI
$58.2K $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%
$1,163,380
Cap Rate 7%
$830,986
Cap Rate 9%
$646,322
Alternative Uses
Best Use
Office B
$831.0K
$727.1K – $969.5K
NOI $58,169 @ 7.0% cap · market cap 3.88%
Second Best
Healthcare Medical
$804.4K
$703.9K – $938.5K
NOI $56,311 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,590 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Under-served
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial property suitable for medical or professional office use.
Where is this medical office space located?
The property is located at 3800 Faber Place Drive North Charleston, SC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Excellent regional connectivity in an active commercial market.; Flexible commercial asset suitable for owner‑users or investors.; Well‑established commercial corridor location in North Charleston.
