Class A Office Suites
For Sale
Contact for pricing
297 Seven Farms Dr, Charleston, SC 29492
Two fully leased Class A office suites totaling 4,651 SF with rear parking and frontage on Seven Farms Drive.
Property Size4,651 SF
Price / SF$390
Days on Market223
Property Features for 297 Seven Farms Dr
General Information
Standard status
Active
Size
4,651 SF
Property subtype
OFFICE
Listing Agency:
Meyer Kapp & Associates LLC
(843) 971-8600
Listed By:
Eric Meyer
(843) 971-8603
Source:
Moodyscre
Added: Jan 22
Changed: Aug 19
Last Checked: Jul 21 at 2:28PM
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 Meyer Kapp & Associates LLC
Investment Insights
Based on property information with market context.
This offering includes two fully leased Class A commercial office suites in a single building, totaling approximately 4,651 square feet. Suite 200 offers 3 private offices, a kitchenette, a large conference room, and a reception area. Suite 201 includes 3 private offices, a bull pen area, two storage closets, a large conference room, and a full-size kitchen and dining area. Both leases are in place with annual increases and terms of approximately 7+ years remaining.
The property is located on Seven Farms Drive in the center of Daniel Island’s commercial district. The building has frontage on Seven Farms Drive, with parking and service positioned in the rear, and elevator service plus common area bathrooms.
Each suite is finished for professional use with high-end finishes, supporting day-to-day office operations for their respective tenants.
The property is located on Seven Farms Drive in the center of Daniel Island’s commercial district. The building has frontage on Seven Farms Drive, with parking and service positioned in the rear, and elevator service plus common area bathrooms.
Each suite is finished for professional use with high-end finishes, supporting day-to-day office operations for their respective tenants.
Key Highlights
- Two fully leased Class A commercial office suites totaling 4,651 SF
- Suite 200: +/- 2,011 SF leased to a local law firm with 3 private offices, kitchenette, reception, and 1 large conference room
- Suite 201: +/- 2,640 SF leased to a professional financial services provider with 3 private offices, bullpen, 2 storage closets, and a full‑size kitchen & dining area
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
$65,281
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
3.60%
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%
$1,305,620
$1.3M
Cap Rate 7%
$932,586
$932.6K
Cap Rate 9%
$725,344
$725.3K
Market Conditions
NOI Build-Up for 4,651 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
$103.3K $22.20/SF
− Vacancy
−$16.2K −$3.49/SF
EGI
$87.0K $18.71/SF
− OpEx
−$21.8K −$4.68/SF
NOI
$65.3K $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 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%
$1,305,620
Cap Rate 7%
$932,586
Cap Rate 9%
$725,344
Alternative Uses
Best Use
Office B
$932.6K
$816.0K – $1.09M
NOI $65,281 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,105 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 29492, SC
19,619
Population
10,069
Households
1.9
Avg Household Size
40
Median Age
67%
College-Educated
98%
High-School Grad
52.8 sq mi
ZIP Area
372
Density / Sq Mi
$115,605
Median Household Income
$60,035
Median Earnings
$1,924
Median Rent
$727,800
Median Home Value
Market
Vacancy Rate% for Office in Charleston, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two fully leased Class A office suites totaling 4,651 SF with rear parking and frontage on Seven Farms Drive.
Where is this office building located?
The property is located at 297 Seven Farms Dr Charleston, SC.
What is the asking price?
The asking price for this property is $1,813,890.
What are key features of this property?
This property features: Two fully leased Class A commercial office suites totaling 4,651 SF; Suite 200: +/- 2,011 SF leased to a local law firm with 3 private offices, kitchenette, reception, and 1 large conference room; Suite 201: +/- 2,640 SF leased to a professional financial services provider with 3 private offices, bullpen, 2 storage closets, and a full‑size kitchen & dining area
