Multi-Building Flex
For Sale
Contact for pricing
Pending
5453 Paulson Street, North Charleston, SC 29406
Three-building flex property with office space plus storage and roll-up door access.
Property Size1,501 SF
Days on Market139
Property Features for 5453 Paulson Street
General Information
Standard status
Pending
Size
1,501 SF
Property subtype
Special Purpose, Office
Zoning
City of North Charleston - B-1 - Limited Business District
Additional Details
Drive-In Doors
3
Building Details
Year Built
1954
Listing Agency:
RE/MAX Pro Realty
Listed By:
Walter Barton
(843) 834-8400
Source:
Crexi
Added: Apr 21
Changed: Aug 14
Last Checked: Jul 24 at 5:50PM
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 RE/MAX Pro Realty
Investment Insights
Based on property information with market context.
This for-sale multi-building flex property includes an office space in the main building and two additional buildings configured for storage and work use. Behind the main office is a garage area offering 499 SF of storage or workspace with a one-car roll-up door. The property also features window AC units and a screen porch area measuring 370 SF.
A second outbuilding includes window AC units and 722 SF of space, with a two-car roll-up door.
Overall, the layout combines office space with enclosed storage/work areas, supported by roll-up door access for service and materials handling.
A second outbuilding includes window AC units and 722 SF of space, with a two-car roll-up door.
Overall, the layout combines office space with enclosed storage/work areas, supported by roll-up door access for service and materials handling.
Key Highlights
- 1954‑built three‑building flex property with office space plus storage and roll‑up door access
- Main building features office space and includes window AC units
- Garage building includes 499 SF storage/workspace and a 1‑car roll‑up door, plus window AC units
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
$20,095
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
4.71%
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%
$401,900
$401.9K
Cap Rate 7%
$287,071
$287.1K
Cap Rate 9%
$223,278
$223.3K
Market Conditions
NOI Build-Up for 1,501 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
$31.5K $21.00/SF
− Vacancy
−$4.7K −$3.15/SF
EGI
$26.8K $17.85/SF
− OpEx
−$6.7K −$4.46/SF
NOI
$20.1K $13.39/SF
Area
North Charleston, SC
Vacancy
15.00%
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%
$401,900
Cap Rate 7%
$287,071
Cap Rate 9%
$223,278
Alternative Uses
Best Use
Office B
$287.1K
$251.2K – $334.9K
NOI $20,095 @ 7.0% cap · market cap 4.71%
Second Best
Flex RnD
$220.8K
$193.2K – $257.6K
NOI $15,454 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$407.6K
$356.6K – $475.5K
NOI $28,531 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Three-building flex property with office space plus storage and roll-up door access.
Where is this flex space located?
The property is located at 5453 Paulson Street North Charleston, SC.
What is the asking price?
The asking price for this property is $427,000.
What are key features of this property?
This property features: 1954‑built three‑building flex property with office space plus storage and roll‑up door access; Main building features office space and includes window AC units; Garage building includes 499 SF storage/workspace and a 1‑car roll‑up door, plus window AC units
