Listing Agency: Beach Commercial, A Division of The Beach Company Show Phone

Listed By: Eddie B Hughes · License #41628 Show Phone

Source: Moodyscre

Added: Jul 14 Changed: Oct 7 Last Checked: Oct 15 at 12:09AM

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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 Beach Commercial, A Division of The Beach Company

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Investment Insights

Based on property information with market context.

This flex space property is in the redevelopment stage, with the existing structure under demolition. Approved architectural construction drawings and entitlements are in hand, supporting a planned commercial redevelopment. The property includes approximately 4.925 acres, providing space for a laydown yard and outdoor storage, along with additional undeveloped land for a potential second building.

Located on Brownswood Rd in Johns Island, the property falls within the City of Charleston’s Business Park zoning district. The offering includes a substantial existing structure and a redevelopment plan designed for flexible commercial use, with expansion of the planned building contemplated through minor design changes.

Key Highlights

• Approximately 4.925 acres
• Fully approved architectural construction drawings and entitlements
• Existing structure is under demolition and in redevelopment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$270,871

Cap Rate

7.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,417,420 $5.4M

Cap Rate 7%

$3,869,586 $3.9M

Cap Rate 9%

$3,009,678 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 41,000 SF

Gross rent

$492.0K $12.00/SF

− Vacancy

−$75.3K −$1.84/SF

EGI

$416.7K $10.16/SF

− OpEx

−$145.9K −$3.56/SF

NOI

$270.9K $6.61/SF

Area

Charleston County, SC

Vacancy

15.30%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,417,420

Cap Rate 7%

$3,869,586

Cap Rate 9%

$3,009,678

Alternative Uses

Best Use

Industrial

$10.08M

$8.82M – $11.76M (±1% cap)

NOI $705,676 @ 7.0% cap · market cap 20.19%

Second Best

Flex RnD

$3.87M

$3.39M – $4.51M (±1% cap)

NOI $270,871 @ 7.0% cap · market cap 7.75%

Theoretical Best

Office A

$14.88M

$13.02M – $17.36M (±1% cap)

NOI $1,041,812 @ 7.0% cap · market cap 29.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Packing Shed Housing ... Community Health Centre Island Tomato Growers, ... Production Facility Island Tomato Growers Agricultural Supply

Suggested Use

Top Pick Building Supply HVAC Service Big Box & Wholesale Store Storage Facility Auto Repair Shop Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

28

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 29455, SC

28,344

Population

17,196

Households

1.6

Avg Household Size

46

Median Age

57%

College-Educated

95%

High-School Grad

100.2 sq mi

ZIP Area

283

Density / Sq Mi

$117,422

Median Household Income

$56,126

Median Earnings

$1,489

Median Rent

$499,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fully entitled redevelopment site with approved construction plans and outdoor storage capacity.

Where is this flex space located?

The property is located at 771 Brownswood Rd Johns Island, SC.

What is the asking price?

The asking price for this property is $3,495,000.

What are key features of this property?

This property features: Approximately 4.925 acres; Fully approved architectural construction drawings and entitlements; Existing structure is under demolition and in redevelopment