Flex Building with Retail
For Sale
Contact for pricing
4405 Dorchester Road, North Charleston, SC 29405
Flex building offers retail frontage plus warehouse and mezzanine space with dual access.
Property Size18,621 SF
Price / SF$167.82
Days on Market132
Property Features for 4405 Dorchester Road
General Information
Standard status
Active
Size
18,621 SF
Property subtype
Office, Retail, Industrial
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Tenancy
Single
Listing Agency:
Bridge Commercial
Listed By:
Brooks Courtney · License #104029
(843) 535-8600
Source:
Crexi
Added: Apr 28
Changed: Aug 22
Last Checked: Aug 29 at 9:56AM
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 Bridge Commercial
Investment Insights
Based on property information with market context.
This flex building includes retail frontage, warehouse space, and mezzanine areas with a second-floor warehouse and mezzanine that can be converted into office space. The configuration supports multiple functional uses within the same structure, with both warehouse and upper-level space available.
The property is located on Dorchester Road in North Charleston, with proximity to I-26, I-526, and Charleston International Airport. Prime visibility and dual access support convenient arrival and circulation for occupants and visitors.
Overall, the building’s mix of retail-facing space and warehouse/mezzanine improvements provides a flexible footprint for businesses seeking both customer-facing frontage and on-site storage or operations space.
The property is located on Dorchester Road in North Charleston, with proximity to I-26, I-526, and Charleston International Airport. Prime visibility and dual access support convenient arrival and circulation for occupants and visitors.
Overall, the building’s mix of retail-facing space and warehouse/mezzanine improvements provides a flexible footprint for businesses seeking both customer-facing frontage and on-site storage or operations space.
Key Highlights
- 1985‑built ±18,621 SF flex building with retail frontage, warehouse space, and mezzanine areas
- Includes 2nd‑floor warehouse and mezzanine areas that can be converted into office space
- Dual access to the building
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
$215,855
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
6.91%
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%
$4,317,100
$4.3M
Cap Rate 7%
$3,083,643
$3.1M
Cap Rate 9%
$2,398,389
$2.4M
Market Conditions
NOI Build-Up for 18,621 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
$335.2K $18.00/SF
− Vacancy
−$26.8K −$1.44/SF
EGI
$308.4K $16.56/SF
− OpEx
−$92.5K −$4.97/SF
NOI
$215.9K $11.59/SF
Area
North Charleston, SC
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,317,100
Cap Rate 7%
$3,083,643
Cap Rate 9%
$2,398,389
Alternative Uses
Best Use
Retail
$3.08M
$2.70M – $3.60M
NOI $215,855 @ 7.0% cap · market cap 6.91%
Second Best
Flex RnD
$2.74M
$2.40M – $3.20M
NOI $191,722 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$5.06M
$4.42M – $5.90M
NOI $353,948 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lowcountry Eats — 1608 Camp Rd, Charleston, SC 29412
- Roscoes Diner — 2705 Bonds Ave, North Charleston, SC 29405
- Chug-a-Lug Wagon — 2652 bonds ave unit 206, north charleston, sc 29405
- Farrah’s Backyard Catering — 3555 Dorchester Rd, North Charleston, SC 29405
- Cast Iron Food Truck and Catering — 3555 Dorchester Rd, North Charleston, SC 29405
Frequently Asked Questions
What type of property is this?
Flex space - Flex building offers retail frontage plus warehouse and mezzanine space with dual access.
Where is this flex space located?
The property is located at 4405 Dorchester Road North Charleston, SC.
What is the asking price?
The asking price for this property is $3,125,000.
What are key features of this property?
This property features: 1985‑built ±18,621 SF flex building with retail frontage, warehouse space, and mezzanine areas; Includes 2nd‑floor warehouse and mezzanine areas that can be converted into office space; Dual access to the building
