Multi-Tenant Office
For Sale
$1,000,000
604 Front St., Georgetown, SC 29440
COMMERCIAL/INDUSTRIAL, Georgetown, SC
Property Size2,961 SF
Lot Size0.25 Acres
Price / SF$337.72
Days on Market503
Property Features for 604 Front St.
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Subdivision
Historic District Of Georgetown
Standard status
Active
Size
2,961 SF
Lot size
0.25 Acres
Building Details
Floors in Building
2
Number of units
11
Listing Agency:
Peace Sotheby's Intl Realty PI · Sotheby's International Realty
(843) 237-7711
Listed By:
Lauren Call · License #91617
(864) 884-3695
Added: Apr 13, 2025
Changed: Aug 19
Last Checked: Aug 28 at 10:06AM
MLS# 2509286
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property at 604 Front Street is a 2,961-square-foot office building configured with 11 separately leased private office spaces. A private parking lot serves tenants, and the property is zoned Commercial. Existing lease agreements provide ongoing rental income from the occupied office suites.
Positioned within Georgetown’s historic district and Core Commercial District, the building sits across from the George Hotel and near downtown retail, dining, and waterfront amenities. Regional connections extend toward Charleston, approximately 60 miles southwest, and Myrtle Beach, approximately 35 miles northeast. The property also lies within an eligible Opportunity Zone.
Positioned within Georgetown’s historic district and Core Commercial District, the building sits across from the George Hotel and near downtown retail, dining, and waterfront amenities. Regional connections extend toward Charleston, approximately 60 miles southwest, and Myrtle Beach, approximately 35 miles northeast. The property also lies within an eligible Opportunity Zone.
Key Highlights
- 2,961‑square‑foot office building with 11 individually leased private office spaces
- Private parking lot reserved for tenants
- Commercial zoning within Georgetown’s Core Commercial District
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
$41,572
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
4.16%
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%
$831,440
$831.4K
Cap Rate 7%
$593,886
$593.9K
Cap Rate 9%
$461,911
$461.9K
Market Conditions
NOI Build-Up for 2,961 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
$71.1K $24.00/SF
− Vacancy
−$15.6K −$5.28/SF
EGI
$55.4K $18.72/SF
− OpEx
−$13.9K −$4.68/SF
NOI
$41.6K $14.04/SF
Area
Georgetown County, SC
Vacancy
22.00%
Lease Rate
$24.00 /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%
$831,440
Cap Rate 7%
$593,886
Cap Rate 9%
$461,911
Alternative Uses
Best Use
Office B
$593.9K
$519.7K – $692.9K
NOI $41,572 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.2K
$710.6K – $947.5K
NOI $56,851 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 29440, SC
27,451
Population
13,845
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
89%
High-School Grad
523.1 sq mi
ZIP Area
52
Density / Sq Mi
$54,926
Median Household Income
$33,636
Median Earnings
$912
Median Rent
$160,400
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?
Office building - Private office suites with a dedicated tenant parking lot in the Core Commercial District.
Where is this office building located?
The property is located at 604 Front St. Georgetown, SC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 2,961‑square‑foot office building with 11 individually leased private office spaces; Private parking lot reserved for tenants; Commercial zoning within Georgetown’s Core Commercial District
