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    176 Croghan Spur Rd Charleston, SC 29407

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    For Lease
    Contact for pricing

    Class A Office Space, West Ashley, SC

    Lot size:
    72,788 SF

    Property Features for 176 Croghan Spur Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    72,788 SF
    Class
    A
    Total Rate
    236561

    Spaces For Lease

    at 176 Croghan Spur Rd, Charleston, SC 29407 Contact us
    Unit Suite 208

    $39 /Mo

    Size
    3,038 SF
    Contact us
    Unit Suite 102

    $39 /Mo

    Size
    3,770 SF
    Contact us

    We can help!

    Listing Contact
    Cameron Yost
    Cameron Yost

    Listing Agency: Lee & Associates Charleston Listing Agent: Cameron Yost

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Class A office building, located at 176 Croghan Spur Rd in Charleston, South Carolina, presents a rare opportunity for businesses seeking premium executive office space. The property, known as Albemarle Point Center, boasts a total of 72,788 square feet and features two suites available for lease. Individual suites range from a minimum of 3,038 square feet to a maximum contiguous space of 3,770 square feet, offering flexibility for various business needs. A total of 6,808 square feet is currently vacant and ready for immediate occupancy. The building provides ample parking with 247 spaces available for tenants and visitors. Its convenient West Ashley location offers easy access to both the Charleston peninsula and downtown, combining the advantages of suburban living with effortless access to the city's vibrant core. The property benefits from prominent monument signage and abundant free surface parking, enhancing visibility and convenience. Located in Charleston County, South Carolina, zip code 29407, this property is an ideal choice for businesses seeking a prestigious and functional workspace. The building's Class A designation reflects its high-quality construction, modern amenities, and prime location. This is a unique opportunity to secure executive office space in a highly desirable area of Charleston.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9673645
    Latitude
    32.7764094

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office Space, West Ashley, SC
    Where is this office property / space located?
    The property is located at 176 Croghan Spur Rd Charleston, SC.
    What is the lease rate?
    The lease rate is $39 SF/Yr.
    What are key features of this property?
    This property features: Class A office space with high-quality finishes and amenities.; Prime West Ashley location offering easy access to downtown Charleston and the peninsula.; Ample free surface parking with 247 spaces.
    (843) 747-1200 Call to check price and availability
    Request Owner's contact information
    176 Croghan Spur Rd Charleston, SC 29407
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    Charleston, SC 29407
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    176 Croghan Spur Rd Charleston, SC 29407
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    Contact for Pricing
    Please call us for current price
    and status of this listing Cameron Yost
    Cameron Yost
    Real Estate License ID: 96412
    (843) 747-1200 (843) 814-7236 (843) 203-1105
    Learn more
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