Renovated Two-Unit Mixed-Use
For Sale
Contact for pricing
609 CARTERET ST BEAUFORT SC 29902-5003, Beaufort, SC 29902
Renovated two-level building with ADA-compliant facilities and two occupied units on a high-traffic thoroughfare.
Property Size1,875 SF
Price / SF$320
Days on Market97
Property Features for 609 CARTERET ST BEAUFORT SC 29902-5003
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Retail, Office, Mixed Use
Zoning
Residential/Commercial
Additional Details
Traffic Count
13,500 vehicles/day
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Allison Greco · License #SC 93493
(888) 440-2798
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Sep 7 at 5:59AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This renovated two-unit property offers a flexible layout for both business and leasing use. The main level features a spacious open floor plan along with an ADA-compliant bathroom and kitchenette. The second level includes a private office, a full bath, and a balcony overlooking the street.
Located on highly visible Carteret Street, the property benefits from an identified 13,500 daily traffic count. The building is positioned in the heart of historic Beaufort, supporting walk-in exposure for tenants and customers.
Both units are currently occupied by tenants, providing an immediate income stream for an investor. For an owner-operator, the configuration can also support in-building use while maintaining revenue from the remaining unit, with dedicated private office space on the upper level and an ADA-compliant, practical main-floor setup.
Located on highly visible Carteret Street, the property benefits from an identified 13,500 daily traffic count. The building is positioned in the heart of historic Beaufort, supporting walk-in exposure for tenants and customers.
Both units are currently occupied by tenants, providing an immediate income stream for an investor. For an owner-operator, the configuration can also support in-building use while maintaining revenue from the remaining unit, with dedicated private office space on the upper level and an ADA-compliant, practical main-floor setup.
Key Highlights
- Renovated two‑level building on highly visible Carteret Street with 13,500 daily traffic count
- Main level includes a spacious open floor plan, ADA‑compliant bathroom, and kitchenette
- Second level offers a private office with a full bath and a balcony overlooking the street
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
$29,610
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
4.94%
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%
$592,200
$592.2K
Cap Rate 7%
$423,000
$423.0K
Cap Rate 9%
$329,000
$329.0K
Market Conditions
NOI Build-Up for 1,875 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
$45.0K $24.00/SF
− Vacancy
−$2.7K −$1.44/SF
EGI
$42.3K $22.56/SF
− OpEx
−$12.7K −$6.77/SF
NOI
$29.6K $15.79/SF
Area
Beaufort County, SC
Vacancy
6.00%
Lease Rate
$24.00 /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%
$592,200
Cap Rate 7%
$423,000
Cap Rate 9%
$329,000
Alternative Uses
Best Use
Retail
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 4.94%
Second Best
Office B
$368.8K
$322.7K – $430.3K
NOI $25,819 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13,500 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 29902, SC
16,692
Population
7,131
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
922
Density / Sq Mi
$72,564
Median Household Income
$36,468
Median Earnings
$1,157
Median Rent
$306,000
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 units - Renovated two-level building with ADA-compliant facilities and two occupied units on a high-traffic thoroughfare.
Where is this office units located?
The property is located at 609 CARTERET ST BEAUFORT SC 29902-5003 Beaufort, SC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Renovated two‑level building on highly visible Carteret Street with 13,500 daily traffic count; Main level includes a spacious open floor plan, ADA‑compliant bathroom, and kitchenette; Second level offers a private office with a full bath and a balcony overlooking the street
