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    Mixed-Use Building with Storefronts Title is generated by Realmo AI

    438 King St, Charleston, SC 29403

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    For Lease
    $35 SF/Yr $31,129/Mo (calc)

    Three-story historic building offers flexible space for retail, office, or hospitality with on-site parking and outdoor access.

    Type:Retail
    Property size:
    10,673 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 3:08 am

    Property Features for 438 King St

    General Information

    Standard status
    Active
    Size
    10,673 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1908

    Spaces For Lease

    at 438 King St Contact us

    We can help!

    Listing Contact
    Thomas M. Boulware, SIOR, CCIM

    Listing agent Thomas M. Boulware, SIOR, CCIM

    Listing office

    Listing date Jun 2, 2026

    Source Naicharleston

    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 Thomas M. Boulware, SIOR, CCIM

    HighLights

    • Three‑story mixed‑use building built in 1908 with 10,673 SF on Charleston’s Upper King Street corridor
    • Zoned General Commercial; city ideal use listed as retail, office, restaurant or hospitality
    • 18 on‑site parking spaces for customer and tenant use
    • Each floor provides access to outdoor patio or porch space
    • Lease rates listed: 1st floor $75/SF NNN; 2nd and 3rd floors $35/SF NNN
    • Undergoing renovations and delivered in warm shell condition; TMS 460‑16‑02‑066

    Overview

    438 King Street is a three-story mixed-use building originally built in 1908, with classic architectural character alongside modern updates. The property features large storefront windows, high ceilings, hardwood floors, and historic detailing throughout. Each floor provides access to outdoor patio or porch space, supporting a more usable streetscape and tenant experience. The building is currently undergoing renovations and is slated for delivery in warm shell condition, giving incoming tenants flexibility to design and finish to their needs.

    Located in the heart of Charleston’s historic Upper King Street corridor, the property is well positioned for concepts seeking visibility and walkable urban character. It offers 18 rare on-site parking spaces, an important convenience for both employees and customers. Zoning is listed as General Commercial, supporting a range of commercial uses.

    With its storefront-ready frontage, multiple levels, and outdoor access per floor, this asset can work for retail, office, restaurant, or hospitality users looking for an historic setting with modern renovation momentum. The warm shell delivery further supports tenant customization for branding, layout, and buildout plans, while maintaining the building’s existing architectural advantages.
    Location Intelligence

    Current Use by Public Records

    Maron Marvel Bradley ... Law Firm John K. Crum Artist Jim Dyke & Associates Marketing & Advertising

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Creech's Florist — 3200 Azalea Dr, Charleston, SC 29405
    • Jade Water Designs — North Charleston, SC 29405
    • arôme — 2872 azalea dr, north charleston, sc 29405
    • Pretty Petals of Charleston — 2872 Azalea Dr, North Charleston, SC 29405

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Berkeley
    State
    South Carolina
    Longitude
    -79.9379837
    Latitude
    32.7885943

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    FAQs

    What type of property is this?
    Storefront property - Three-story historic building offers flexible space for retail, office, or hospitality with on-site parking and outdoor access.
    Where is this storefront property located?
    The property is located at 438 King St Charleston, SC.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Three‑story mixed‑use building built in 1908 with 10,673 SF on Charleston’s Upper King Street corridor; Zoned General Commercial; city ideal use listed as retail, office, restaurant or hospitality; 18 on‑site parking spaces for customer and tenant use
    (843) 270-9124
    We can help!
    Listing Contact
    Thomas M. Boulware, SIOR, CCIM
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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