Office Redevelopment
For Sale
Contact for pricing
3841 Rivers Avenue, North Charleston, SC 29405
Two-building office property with multiple private offices, conference areas, and an X-ray room.
Property Size5,161 SF
Price / SF$232.51
Days on Market52
Property Features for 3841 Rivers Avenue
General Information
Standard status
Active
Size
5,161 SF
Total Parking Spaces
34
Property subtype
Office, Mixed Use, Retail
Zoning
City of North Charleston - B-2 - General Business District
Building Details
Year Built
1989
Units
2
Listing Agency:
Carolina One Real Estate
Listed By:
Steve Wray · License #SC 84964
Source:
Crexi
Added: Jul 16
Changed: Aug 25
Last Checked: Sep 2 at 10:29AM
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
Investment Insights
Based on property information with market context.
This offering includes a main office building and a smaller second building, providing space for office and medical-related use. The main building totals 3,361 SF and is configured with 12 offices, conference rooms, a central business office, kitchen, and a laundry room with washer and dryer connections. The entrance features a large reception area plus a restroom. Additional amenities include a mahogany paneled executive suite with a wet bar, full bath and shower, and an attic with approximately 500 SF of semi-finished space used previously as storage. There is also an X-ray room included for medical users.
The smaller building totals 1,800 SF and is currently rented to a long-time tenant.
The property is located on Rivers Avenue in North Charleston and is described as being within close proximity to Riverfront Park, the Naval Hospital redevelopment, local social services and library facilities, and nearby dining and retail options around Park Circle. It is also noted as being on the Lowcountry Rapid Transit line (LCRT), scheduled for a 2027 launch.
The smaller building totals 1,800 SF and is currently rented to a long-time tenant.
The property is located on Rivers Avenue in North Charleston and is described as being within close proximity to Riverfront Park, the Naval Hospital redevelopment, local social services and library facilities, and nearby dining and retail options around Park Circle. It is also noted as being on the Lowcountry Rapid Transit line (LCRT), scheduled for a 2027 launch.
Key Highlights
- Two‑building office property with 3,361 SF main building plus a separate 1,800 SF smaller building
- Main building includes 12 offices, conference rooms, reception area, kitchen, laundry room, and a central business office
- Main building features an executive suite with wet bar, full bath and shower, plus an entrance reception and restroom
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
$69,093
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
5.76%
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%
$1,381,860
$1.4M
Cap Rate 7%
$987,043
$987.0K
Cap Rate 9%
$767,700
$767.7K
Market Conditions
NOI Build-Up for 5,161 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
$108.4K $21.00/SF
− Vacancy
−$16.3K −$3.15/SF
EGI
$92.1K $17.85/SF
− OpEx
−$23.0K −$4.46/SF
NOI
$69.1K $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%
$1,381,860
Cap Rate 7%
$987,043
Cap Rate 9%
$767,700
Alternative Uses
Best Use
Office B
$987.0K
$863.7K – $1.15M
NOI $69,093 @ 7.0% cap · market cap 5.76%
Second Best
Healthcare Medical
$955.5K
$836.1K – $1.11M
NOI $66,887 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,100 @ 7.0% cap · market cap 8.18%
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
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?
Office units - Two-building office property with multiple private offices, conference areas, and an X-ray room.
Where is this office units located?
The property is located at 3841 Rivers Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑building office property with 3,361 SF main building plus a separate 1,800 SF smaller building; Main building includes 12 offices, conference rooms, reception area, kitchen, laundry room, and a central business office; Main building features an executive suite with wet bar, full bath and shower, plus an entrance reception and restroom
