Grocery Store with On-Site
New
For Sale
$2,550,000
4411 Durant Ave, North Charleston, SC 29406
Masonry retail building currently operating as a grocery store, with rooftop HVAC and a membrane roof replaced in 2018.
Property Size11,342 SF
Days on Market3
Property Features for 4411 Durant Ave
General Information
Standard status
Active
Size
11,342 SF
Total Parking Spaces
45
Property subtype
Retail
Building Details
Building Size
11,342 SF
Year Built
1996
Construction
masonry
Tenancy
Single
Parking Ratio
4 per 1,000 SF
Listing Agency:
Meridian Commercial
(415) 272-6147
Listed By:
Steve Easley · License #CalDRE #00378205
(415) 272-6147
Source:
Meridiancommercial
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 10:22PM
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 Meridian Commercial
Investment Insights
Based on property information with market context.
This grocery and convenience store property at 4411 Durant Ave in North Charleston is currently occupied by Save-A-Lot and can be vacated with 30-day notice. The building uses masonry construction and was built in 1996, with 45 on-site parking spaces. The existing improvements include rooftop Carrier heat pumps, including one 3-ton unit and two 15-ton units.
The HVAC system was replaced in December 2016, and the roof was renewed in August 2018 with a 60 Mil White GAF TPO single membrane system. The property is located along the 21-mile proposed Low Country Rapid Transit system. It was originally developed as a Rite Aid Pharmacy, providing additional context for the building’s prior retail use.
The HVAC system was replaced in December 2016, and the roof was renewed in August 2018 with a 60 Mil White GAF TPO single membrane system. The property is located along the 21-mile proposed Low Country Rapid Transit system. It was originally developed as a Rite Aid Pharmacy, providing additional context for the building’s prior retail use.
Key Highlights
- Current Save‑A‑Lot grocery operation with 30‑day notice to vacate
- 45 on‑site parking spaces, noted at 4 per 1,000 SF
- Masonry construction; built in 1996
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
$166,132
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
6.51%
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%
$3,322,640
$3.3M
Cap Rate 7%
$2,373,314
$2.4M
Cap Rate 9%
$1,845,911
$1.8M
Market Conditions
NOI Build-Up for 11,342 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
$238.2K $21.00/SF
− Vacancy
−$16.7K −$1.47/SF
EGI
$221.5K $19.53/SF
− OpEx
−$55.4K −$4.88/SF
NOI
$166.1K $14.65/SF
Area
North Charleston, SC
Vacancy
7.00%
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%
$3,322,640
Cap Rate 7%
$2,373,314
Cap Rate 9%
$1,845,911
Alternative Uses
Best Use
Specialty Retail
$2.37M
$2.08M – $2.77M
NOI $166,132 @ 7.0% cap · market cap 6.51%
Second Best
Retail
$1.88M
$1.64M – $2.19M
NOI $131,476 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,589 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29406, SC
32,730
Population
14,542
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
82%
High-School Grad
15.3 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,640
Median Household Income
$36,741
Median Earnings
$1,305
Median Rent
$209,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Duvall Catering — 800 Bldg, 7000 Rivers Ave, North Charleston, SC 29406
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Masonry retail building currently operating as a grocery store, with rooftop HVAC and a membrane roof replaced in 2018.
Where is this grocery and convenience store located?
The property is located at 4411 Durant Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Current Save‑A‑Lot grocery operation with 30‑day notice to vacate; 45 on‑site parking spaces, noted at 4 per 1,000 SF; Masonry construction; built in 1996
