New Flex Building with Drive-In
For Sale
Contact for pricing
5639 Leiderman Street, North Charleston, SC 29406
Brand-new flex space under construction with a storefront entrance, large drive-in door, and built-in office and ADA restroom.
Property Size2,945 SF
Price / SF$322.58
Days on Market51
Property Features for 5639 Leiderman Street
General Information
Standard status
Active
Size
2,945 SF
Property subtype
Industrial
Zoning
City of North Charleston - B-2 - General Business District
Additional Details
Drive-In Doors
1
Listing Agency:
Harbor Commercial Partners
(843) 725-7200
Listed By:
Crawford Riddle · License #SC 130225
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 9 at 3:32PM
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.
A brand-new 2,945 SF flex building is currently under construction and offered for sale. The space will include an attractive commercial storefront entrance, a large 12' x 14' drive-in door, and generous interior clearance suited for combined warehouse and office use. The warehouse will be supported by a 400-amp single-phase service and LED warehouse lighting. A built-in 803 SF office buildout is planned with a reception area, two private offices, a break area, and an ADA-compliant restroom. Off-site parking is also part of the offering.
The property is located less than a mile from I-26, providing convenient access for day-to-day operations and employee travel. Its commercial storefront-style entrance is designed to support businesses that need both workplace functionality and direct customer-facing presence.
This layout is well suited for owner-operators and tenants looking for a single facility that blends light industrial storage or production space with dedicated administrative space. With a drive-in door, reliable electrical service, and an office configured for reception, private offices, and ADA accessibility, the building supports a range of back-office and warehouse-adjacent requirements.
The property is located less than a mile from I-26, providing convenient access for day-to-day operations and employee travel. Its commercial storefront-style entrance is designed to support businesses that need both workplace functionality and direct customer-facing presence.
This layout is well suited for owner-operators and tenants looking for a single facility that blends light industrial storage or production space with dedicated administrative space. With a drive-in door, reliable electrical service, and an office configured for reception, private offices, and ADA accessibility, the building supports a range of back-office and warehouse-adjacent requirements.
Key Highlights
- Brand‑new 2,945 SF flex building under construction in North Charleston
- Located less than 1 mile from I‑26
- Includes an 803 SF office buildout with reception, two private offices, and break area
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
$39,426
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
4.15%
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%
$788,520
$788.5K
Cap Rate 7%
$563,229
$563.2K
Cap Rate 9%
$438,067
$438.1K
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
$61.8K $21.00/SF
− Vacancy
−$9.3K −$3.15/SF
EGI
$52.6K $17.85/SF
− OpEx
−$13.1K −$4.46/SF
NOI
$39.4K $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%
$788,520
Cap Rate 7%
$563,229
Cap Rate 9%
$438,067
Alternative Uses
Best Use
Office B
$563.2K
$492.8K – $657.1K
NOI $39,426 @ 7.0% cap · market cap 4.15%
Second Best
Flex RnD
$433.2K
$379.0K – $505.4K
NOI $30,322 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$799.7K
$699.7K – $933.0K
NOI $55,979 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
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
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Frequently Asked Questions
What type of property is this?
Flex space - Brand-new flex space under construction with a storefront entrance, large drive-in door, and built-in office and ADA restroom.
Where is this flex space located?
The property is located at 5639 Leiderman Street North 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: Brand‑new 2,945 SF flex building under construction in North Charleston; Located less than 1 mile from I‑26; Includes an 803 SF office buildout with reception, two private offices, and break area
