Flex Building With Drive-In
For Sale
Contact for pricing
5639 Leiderman St, N Charleston, SC 29406
Under-construction flex space combines storefront presentation, warehouse functionality, and dedicated office improvements.
Property Size3,204 SF
Price / SF$322.58
Days on Market419
Property Features for 5639 Leiderman St
General Information
Standard status
Active
Size
3,204 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Office Build-Out
801 SF
Drive-In Doors
1
Power
400 amps
Three-Phase Power
No
Building Details
Buildings
1
Building Size
3,204 SF
Abandoned
No
Listing Agency:
Harbor Commercial Partners
(843) 994-7198
Listed By:
Todd P Garrett · License #130225
(843) 994-7198
Source:
Moodyscre
Added: Jul 8, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:16AM
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 Harbor Commercial Partners
Investment Insights
Based on property information with market context.
This flex property is under construction with a commercial storefront entry and a warehouse area designed around a 12' x 14' drive-in door and generous interior clearance. Planned improvements include 400-amp single-phase electrical service, LED warehouse lighting, and an 801-square-foot office buildout with reception space, two private offices, a break area, and an ADA-compliant restroom.
The property is located at 5639 Leiderman St in North Charleston, less than one mile from I-26. Off-site parking is planned, and completion is anticipated for December 2024.
The property is located at 5639 Leiderman St in North Charleston, less than one mile from I-26. Off-site parking is planned, and completion is anticipated for December 2024.
Key Highlights
- 12' x 14' drive‑in door supports warehouse access
- 801 SF office buildout with reception, two private offices, break area, and ADA‑compliant restroom
- 400‑amp single‑phase electrical service
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
$41,336
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
4.35%
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%
$826,720
$826.7K
Cap Rate 7%
$590,514
$590.5K
Cap Rate 9%
$459,289
$459.3K
Market Conditions
NOI Build-Up for 2,945 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
$65.4K $22.20/SF
− Vacancy
−$10.3K −$3.49/SF
EGI
$55.1K $18.71/SF
− OpEx
−$13.8K −$4.68/SF
NOI
$41.3K $14.04/SF
Area
Charleston, SC
Vacancy
15.70%
Lease Rate
$22.20 /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%
$826,720
Cap Rate 7%
$590,514
Cap Rate 9%
$459,289
Alternative Uses
Best Use
Office B
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 4.35%
Second Best
Warehouse
$552.5K
$483.5K – $644.6K
NOI $38,678 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$797.0K
$697.4K – $929.8K
NOI $55,788 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Well-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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Miss Katie’s Sweets — 5600 Rivers Ave #6027, North Charleston, SC 29406
- Rudy & Rosie Bahamian Delight — 5600 Rivers Ave, North Charleston, SC 29406
- Lunch Express — 1311 Remount Rd, North Charleston, SC 29406
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction flex space combines storefront presentation, warehouse functionality, and dedicated office improvements.
Where is this flex space located?
The property is located at 5639 Leiderman St N Charleston, SC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 12' x 14' drive‑in door supports warehouse access; 801 SF office buildout with reception, two private offices, break area, and ADA‑compliant restroom; 400‑amp single‑phase electrical service
