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    550 Long Point Rd Mount Pleasant, SC 29464

    Sponsored
    For Lease
    $20 SF/Yr

    Class A Office Space for Lease/Sale

    Lot size:
    20,560 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional Class A office building, located at 550 Long Point Rd in Mount Pleasant, SC, offers 20,560 square feet of prime executive office space. Currently, 10,280 square feet is available, divisible into units as small as 4,740 square feet and up to a contiguous 5,540 square feet. Built in 1996, the property boasts 112 on-site parking spaces (a 5.5/1,000 SF ratio). The building features a mix of glass-fronted offices, private offices, high ceilings, and open floor plans. The first floor is ideal for a full-floor tenant, complete with a kitchen, conference rooms, a private shower, and a central reception area off the building lobby. Building signage is available, and the landlord is open to renovations or subdividing the space to meet tenant needs. The property enjoys a highly convenient location just off I-526, with close proximity to Highway 17 North, approximately 5 miles to I-26, and within a 10-15 minute drive of Daniel Island and the Cain Hoy area. Numerous amenities are nearby, including restaurants, fitness centers, and shopping at Belle Hall Shopping Center. The SC Ports Authority HQ and Wando Welch Terminal are less than 2 miles away. The building is surrounded by upscale neighborhoods and is conveniently located near medical facilities, including Atria Assisted Living (next door), East Cooper Medical Center (2.8 miles), and Roper Saint Francis (approximately 8 miles).

    Property Features for 550 Long Point Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,560 SF
    Class
    A
    Total Rate
    34266.67

    Building Details

    Year Built
    1996

    Unit(s) available at that property

    Space
    1St Floor Suite 100
    Size
    5,540 SF
    Rate per SF
    $22
    Space
    1St Floor Suite 105
    Size
    4,740 SF
    Rate per SF
    $22
    Space
    Suite 100 & 105
    Size
    10,280 SF
    Rate per SF
    $22
    Space
    2nd Floor Suite 200
    Size
    5,540 SF
    Rate per SF
    $22

    HighLights

    • 20,560 SF Class A office building in Mount Pleasant, SC, with 10,280 SF currently available.
    • Divisible into suites ranging from 4,740 SF to 5,540 SF.
    • 112 on‑site parking spaces (5.5/1,000 SF ratio).
    • First‑floor suite features a full kitchen, conference rooms, private shower, and reception area.
    • Excellent location near I‑526, Highway 17, and major amenities, including the SC Ports Authority.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.866005
    Latitude
    32.837643

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office Space for Lease/Sale
    Where is this office property / space located?
    The property is located at 550 Long Point Rd Mount Pleasant, SC.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 20,560 SF Class A office building in Mount Pleasant, SC, with 10,280 SF currently available.; Divisible into suites ranging from 4,740 SF to 5,540 SF.; 112 on-site parking spaces (5.5/1,000 SF ratio).
    Request Owner's contact information
    550 Long Point Rd Mount Pleasant, SC 29464
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    Mount Pleasant, SC 29464
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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
    550 Long Point Rd Mount Pleasant, SC 29464
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