Flex Space with Warehouse
For Sale
$1,895,000
5450 Memorial Blvd, Saint George, SC 29477
Commercial Sale, Saint George, SC
Property Size8,250 SF
Lot Size4.00 Acres
Price / SF$229.70
Days on Market131
Property Features for 5450 Memorial Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
000000
Directions
From Summerville take Highway 78 towards St. George. As you pass the Dorchester County Courthouse the property is on the right less than a mile.
Standard status
Active
APN
045-15-03-003, 045-15-03-004, 045-15-03-
Lot size
4.00 Acres
Listing Agency:
National Land Realty, Greenville, SC
(855) 384-5263
Listed By:
Edward Weathers
(855) 384-5263
Added: Apr 15
Changed: Aug 20
Last Checked: Aug 23 at 12:06AM
MLS# 11716213
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space offering includes three commercial parcels totaling approximately 4 acres. Improvements include about 8,250 SF of warehouse area across two buildings, with offices, showroom space, and open areas. The primary structure measures approximately 45' x 90' and includes an upper level measuring approximately 30' x 90'. A second building measures approximately 30' x 90' and has three 10' x 10' roll-up doors. The 1.92-acre parcel is fully fenced and includes multiple buildings, warehouse space, covered storage areas, and room for outdoor material staging. Two additional parcels contain approximately 1.05 acres each and are zoned commercial. The property has approximately 470 feet of frontage on Highway 78, a secondary entrance from Cocoa Street, and is located about two miles from I-95 and eight miles from I-26. The property is currently leased to a commercial construction company.
Key Highlights
- Approximately 4 +/- acres across three commercial parcels
- Approximately 8,250 +/- sf of flex warehouse in two buildings
- Approximately 470 +/- feet of frontage along Highway 78
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
$163,885
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
8.65%
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%
$3,277,700
$3.3M
Cap Rate 7%
$2,341,214
$2.3M
Cap Rate 9%
$1,820,944
$1.8M
Market Conditions
NOI Build-Up for 8,250 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
$245.5K $29.76/SF
− Vacancy
−$27.0K −$3.27/SF
EGI
$218.5K $26.49/SF
− OpEx
−$54.6K −$6.62/SF
NOI
$163.9K $19.86/SF
Area
Dorchester County, SC
Vacancy
11.00%
Lease Rate
$29.76 /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%
$3,277,700
Cap Rate 7%
$2,341,214
Cap Rate 9%
$1,820,944
Alternative Uses
Best Use
Flex RnD
$2.52M
$2.20M – $2.94M
NOI $176,396 @ 7.0% cap · market cap 9.31%
Second Best
Office B
$2.34M
$2.05M – $2.73M
NOI $163,885 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$6.17M
$5.40M – $7.20M
NOI $432,185 @ 7.0% cap · market cap 22.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29477, SC
6,344
Population
3,527
Households
1.8
Avg Household Size
47
Median Age
20%
College-Educated
84%
High-School Grad
110.3 sq mi
ZIP Area
58
Density / Sq Mi
$57,581
Median Household Income
$40,625
Median Earnings
$919
Median Rent
$75,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Goose Pond Caterers — 601 N Parler Ave, St George, SC 29477
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building commercial property combines warehouse, office, showroom, and open-space areas with additional fenced land and highway access.
Where is this flex space located?
The property is located at 5450 Memorial Blvd Saint George, SC.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Approximately 4 +/- acres across three commercial parcels; Approximately 8,250 +/- sf of flex warehouse in two buildings; Approximately 470 +/- feet of frontage along Highway 78
