Charleston Warehouse with Redevelopment
60 Romney St Charleston, SC 29403
60 Romney St, Charleston, SC, 29403
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For Sale
Contact for pricing
8,911 SF warehouse on 0.537 acres near Charleston Tech Center.
Property Size8,911 SF
Lot Size0.54 Acres
Price / SF$381.55
Days on Market1126
Property Features for 60 Romney St
General Information
- Standard status
- Active
- Size
- 8,911 SF
- Lot size
- 0.54 Acres
- Property subtype
- Retail, Office, Mixed Use, Land
Listing Agency
Bridge Commercial
(843) 723-1202
Listed by
Daniel Pellegrino · License #SC68293
Source
Crexi
Added: Jun 19, 2023 Checked: Jul 16 at 4:00 am
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 Bridge Commercial
Investment Insights
Based on property information with market context.
This is an opportunity to purchase an 8,911 SF warehouse on 0.537 acres in an area witnessing unprecedented redevelopment over the last few years. The property consists of two buildings: a main building with warehouse, office, and apartment space, and a rear building with a warehouse and walk-in fridge. It is adjacent to Atlantic on Romney apartments and Charleston Tech Center, and within walking distance to a variety of restaurants, apartments, and offices. The property offers direct access to I-26 and is easily accessible to major thoroughfares including Highway 17, Ravenel Bridge, Morrison Drive, and Meeting Street.
Key Highlights
- 8,911 SF warehouse on 0.537 acres in an area witnessing unprecedented redevelopment.
- Two buildings: Main building (warehouse, office, apartment) and rear building (warehouse, walk‑in fridge).
- Direct access to I‑26 and easily accessible to major thoroughfares.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $197.8k | $22.20 |
| − Vacancy | −$31.1k | −$3.49 |
| EGI | $166.8k | $18.71 |
| − OpEx | −$41.7k | −$4.68 |
| NOI | $125.1k | $14.04 |
8,911 SF · lease $22.20/SF/yr · vacancy 15.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.79M
$1.56M – $2.08M
NOI $125,074 @ 7.0% cap · market cap 3.68%
Second Best
Warehouse
$1.67M
$1.46M – $1.95M
NOI $117,033 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,803 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Charleston Electrical Services ...
Electrical Service
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FAQs
What type of property is this?
Warehouse - 8,911 SF warehouse on 0.537 acres near Charleston Tech Center.
Where is this warehouse located?
The property is located at 60 Romney St Charleston, SC.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 8,911 SF warehouse on 0.537 acres in an area witnessing unprecedented redevelopment.; Two buildings: Main building (warehouse, office, apartment) and rear building (warehouse, walk‑in fridge).; Direct access to I‑26 and easily accessible to major thoroughfares.
