Iconic Dixie Furniture Building
For Sale
Contact for pricing
5550 Rivers Ave, North Charleston, SC
Renovated showroom and warehouse space on high-traffic Rivers Avenue.
Property Size22,000 SF
Lot Size0.76 Acres
Price / SF$193.18
Days on Market362
Property Features for 5550 Rivers Ave
General Information
Standard status
Active
Size
22,000 SF
Lot size
0.76 Acres
Property subtype
RETAIL
Lease Type
NNN
Properties For Sale
at 5550 Rivers Ave Contact us- Floor
- Bldg
- Size
- 22,000 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
5550 Rivers Ave
- First Time Available in 60 Years! Iconic Dixie Furniture Building on Rivers Avenue
This...
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Listing Agency:
Coldwell Banker Commercial | Atlantic
(843) 478-9594
Listed By:
Ben H Chase · License #SC91676
(843) 478-9594
Source:
Moodyscre
Added: Aug 25, 2025
Changed: Aug 8
Last Checked: Aug 20 at 10:07AM
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 Coldwell Banker Commercial | Atlantic
Investment Insights
Based on property information with market context.
The iconic Dixie Furniture Building, available for the first time in 60 years, offers 22,000 square feet of space, including a recently renovated showroom that comprises approximately 80% of the total area, and well-maintained warehouse space accounting for the remaining 20%. Situated on 0.75 acres, the property is located on Rivers Avenue in North Charleston, benefiting from high visibility and substantial daily traffic. The site features ample on-site parking. Zoned B-2 General Business District, the property is split-zoned and also falls within the Upper 52-78 Overlay District, enhancing its potential for redevelopment and expansion. The zoning allows for a wide range of commercial uses.
Key Highlights
- High‑traffic location on Rivers Avenue with excellent visibility and ample on‑site parking.
- 22,000 sq ft of space, including a recently renovated showroom (approximately 80% of the total space).
- B‑2 General Business District zoning with split‑zoning (internal use: yes) allowing for a wide range of commercial uses.
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
$255,024
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
6.00%
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%
$5,100,480
$5.1M
Cap Rate 7%
$3,643,200
$3.6M
Cap Rate 9%
$2,833,600
$2.8M
Market Conditions
NOI Build-Up for 22,000 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
$396.0K $18.00/SF
− Vacancy
−$31.7K −$1.44/SF
EGI
$364.3K $16.56/SF
− OpEx
−$109.3K −$4.97/SF
NOI
$255.0K $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%
$5,100,480
Cap Rate 7%
$3,643,200
Cap Rate 9%
$2,833,600
Alternative Uses
Best Use
Retail
$3.64M
$3.19M – $4.25M
NOI $255,024 @ 7.0% cap · market cap 6.00%
Second Best
Warehouse
$1.81M
$1.58M – $2.11M
NOI $126,526 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$5.97M
$5.23M – $6.97M
NOI $418,176 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Showroom - Renovated showroom and warehouse space on high-traffic Rivers Avenue.
Where is this showroom located?
The property is located at 5550 Rivers Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: High‑traffic location on Rivers Avenue with excellent visibility and ample on‑site parking.; 22,000 sq ft of space, including a recently renovated showroom (approximately 80% of the total space).; B‑2 General Business District zoning with split‑zoning (internal use: yes) allowing for a wide range of commercial uses.
