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    2185 Ashley Phosphate Rd North Charleston, SC 29406

    For Sale
    $5,250,000

    Charleston, SC Office Park - High Occupancy

    Property size:
    32,260 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This six-building, 32,260 square foot Class B office park in North Charleston, SC, presents a compelling value-add investment opportunity. Located on a 3-acre lot at 2185 Ashley Phosphate Rd (zip code 29406), the property boasts high visibility (over 60,000 vehicles per day) and ample free parking. Currently 85% occupied by 17 tenants, including essential services and medical users, the park offers a diverse tenant mix with a strong track record. Recent renovations (2021) included exterior brick and foundation work, roof updates, landscaping, new signage, enhanced security, and modern design features. The property features 20 units ranging in size from 1,204 to 3,173 square feet, with 3% annual rent bumps. The asking price is $5,250,000, representing a current cap rate of 6.70% and a pro-forma cap rate of 9.00%. The Net Operating Income (NOI) is currently $351,962, with a pro-forma NOI of $472,673. Built in 1979, the property consists of six two-story buildings, zoned GC. The property is fee simple ownership with a NNN lease type and no ground lease. The location offers proximity to major national brands, providing convenient access to retail and hospitality services for tenants. A potential pad site for build-to-suit development is also available.

    Property Features for 2185 Ashley Phosphate Rd

    General Information

    Property type
    Medical offices
    Square Feet
    32,260 SF
    Class
    B
    Lot Size
    130,680 SF

    Building Details

    Year Built/Renovated
    1979/2021
    Buildings
    6
    Stories
    2
    Units
    20

    HighLights

    • Six‑building office park.
    • 85% occupancy rate.
    • Recently completed capital improvements.
    • High visibility with over 60,000 vehicles per day.
    • Approximately 3‑acre lot.
    • Build‑to‑suit pad site available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Clothing Store Nail Salon Food Market Grocery Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    North Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.042352459559
    Latitude
    32.9359583787

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    FAQs

    What type of property is this?
    Medical office - Charleston, SC Office Park - High Occupancy
    Where is this medical office located?
    The property is located at 2185 Ashley Phosphate Rd North Charleston, SC.
    What is the asking price?
    The asking price for this property is $5,250,000.
    What are key features of this property?
    This property features: Six-building office park.; 85% occupancy rate.; Recently completed capital improvements.
    Request Owner's contact information
    2185 Ashley Phosphate Rd North Charleston, SC 29406
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    Realmo Value Estimation

    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.

    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.

    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
    2185 Ashley Phosphate Rd North Charleston, SC 29406
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