Charleston Warehouse with Redevelopment
For Sale
Contact for pricing
60 Romney St, Charleston, SC 29403
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 Market1216
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
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Bridge Commercial
Listed By:
Daniel Pellegrino · License #SC68293
(843) 535-8600
Source:
Crexi
Added: Jun 19, 2023
Changed: Oct 1
Last Checked: Oct 16 at 9:25AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,074
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,501,480
$2.5M
Cap Rate 7%
$1,786,771
$1.8M
Cap Rate 9%
$1,389,711
$1.4M
Market Conditions
NOI Build-Up for 8,911 SF
Gross rent
$197.8K $22.20/SF
− Vacancy
−$31.1K −$3.49/SF
EGI
$166.8K $18.71/SF
− OpEx
−$41.7K −$4.68/SF
NOI
$125.1K $14.04/SF
Area
Charleston, SC
Vacancy
15.70%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,501,480
Cap Rate 7%
$1,786,771
Cap Rate 9%
$1,389,711
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Charleston, SC
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Frequently Asked Questions
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.
