Wando Park Second-Floor Office
For Sale
Contact for pricing
421 Wando Park Boulevard #2nd Floor, Mount Pleasant, SC 29464
High-quality office investment in Mount Pleasant's Wando Park business corridor.
Property Size17,349 SF
Price / SF$372.93
Days on Market178
Property Features for 421 Wando Park Boulevard #2nd Floor
General Information
Standard status
Active
Size
17,349 SF
Property subtype
Office
Listing Agency:
Colliers
(843) 329-0108
Listed By:
Pete Harper · License #SC 42090
Source:
Crexi
Added: Feb 25
Changed: Aug 20
Last Checked: Aug 21 at 4:44PM
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 Colliers
Investment Insights
Based on property information with market context.
The entire second-floor office condominium at 421 Wando Park Boulevard is available for sale, presenting an opportunity to acquire a high-quality office investment in Mount Pleasant's Wando Park business corridor. The professional office space features 17,349 square feet of well-appointed layout suitable for single or multi-tenant occupancy. The property offers a modern, professional environment with a combination of private offices, conference rooms, collaborative work areas, and support space. Large windows provide abundant natural light, and common areas are professionally maintained, creating a corporate presence for ownership or tenants. Strategically located just off Long Point Road with immediate access to I-526, the property provides connectivity to Charleston, Daniel Island, and North Charleston. Wando Park Boulevard is surrounded by medical, professional, and corporate users, as well as nearby retail and dining amenities, making it a location for both employees and clients. This offering represents a unique opportunity for an owner-user or investor to secure a premier office asset in one of the Charleston region's suburban office submarkets.
Key Highlights
- Premier office asset in Mount Pleasant's Wando Park business corridor.
- 17,349 square feet of well‑appointed office space ideal for single or multi‑tenant occupancy.**
- Strategic location with immediate access to I‑526 and connectivity to Charleston, Daniel Island, and 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
$363,028
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
5.61%
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%
$7,260,560
$7.3M
Cap Rate 7%
$5,186,114
$5.2M
Cap Rate 9%
$4,033,644
$4.0M
Market Conditions
NOI Build-Up for 17,349 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
$520.5K $30.00/SF
− Vacancy
−$36.4K −$2.10/SF
EGI
$484.0K $27.90/SF
− OpEx
−$121.0K −$6.98/SF
NOI
$363.0K $20.92/SF
Area
Charleston County, SC
Vacancy
7.00%
Lease Rate
$30.00 /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%
$7,260,560
Cap Rate 7%
$5,186,114
Cap Rate 9%
$4,033,644
Alternative Uses
Best Use
Office B
$5.19M
$4.54M – $6.05M
NOI $363,028 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.30M
$5.51M – $7.35M
NOI $440,839 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 29464, SC
51,287
Population
26,829
Households
1.9
Avg Household Size
41
Median Age
67%
College-Educated
96%
High-School Grad
30.1 sq mi
ZIP Area
1,704
Density / Sq Mi
$107,215
Median Household Income
$60,066
Median Earnings
$1,973
Median Rent
$672,400
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 - High-quality office investment in Mount Pleasant's Wando Park business corridor.
Where is this office units located?
The property is located at 421 Wando Park Boulevard #2nd Floor Mount Pleasant, SC.
What is the asking price?
The asking price for this property is $6,470,000.
What are key features of this property?
This property features: Premier office asset in Mount Pleasant's Wando Park business corridor.; 17,349 square feet of well‑appointed office space ideal for single or multi‑tenant occupancy.**; Strategic location with immediate access to I‑526 and connectivity to Charleston, Daniel Island, and North Charleston.
