Apartment Building with Central
For Sale
$1,900,000
4345 Leslie Street, North Charleston, SC 29418
Built in 1973 and located in Charleston County.
Property Size8,928 SF
Days on Market8
Property Features for 4345 Leslie Street
General Information
Standard status
Active
Size
8,928 SF
Property subtype
Residential Income
Amenities
Central Air
Other
Building Details
Building Size
8,928 SF
Year Built
1973
Stories
1
Listing Agency:
The Boulevard Company
(843) 819-2555
Listed By:
Cory Cockrell
(843) 819-2555
Source:
Evrealestate
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 14 at 5:24AM
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 The Boulevard Company
Investment Insights
Based on property information with market context.
This apartment building at 4345 Leslie Street in North Charleston, South Carolina, was constructed in 1973. Central air is identified among the interior features.
The property is in Charleston County and can be reached from I-26 E via Exit 213 A, followed by W Montague Avenue, Dorchester Road, and Leslie Street.
The property is in Charleston County and can be reached from I-26 E via Exit 213 A, followed by W Montague Avenue, Dorchester Road, and Leslie Street.
Key Highlights
- Apartment building constructed in 1973
- Central air listed among interior features
- Located at 4345 Leslie Street, North Charleston, SC 29418
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
$109,836
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
5.78%
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%
$2,196,720
$2.2M
Cap Rate 7%
$1,569,086
$1.6M
Cap Rate 9%
$1,220,400
$1.2M
Market Conditions
NOI Build-Up for 8,928 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
$214.3K $24.00/SF
− Vacancy
−$14.6K −$1.63/SF
EGI
$199.7K $22.37/SF
− OpEx
−$89.9K −$10.07/SF
NOI
$109.8K $12.30/SF
Area
North Charleston, SC
Vacancy
6.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,196,720
Cap Rate 7%
$1,569,086
Cap Rate 9%
$1,220,400
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,836 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,703 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1973 and located in Charleston County.
Where is this apartment building located?
The property is located at 4345 Leslie Street North Charleston, SC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Apartment building constructed in 1973; Central air listed among interior features; Located at 4345 Leslie Street, North Charleston, SC 29418
