North Charleston Industrial/Distribution
For Sale
$4,400,000
North, Charleston, SC 29405
Well-maintained building with office and warehouse space for sale.
Property Size22,216 SF
Lot Size1.27 Acres
Price / SF$198.06
Days on Market167
Property Features for North
General Information
Standard status
Active
Size
22,216 SF
Lot size
1.27 Acres
Property subtype
Industrial
Building Details
Building Size
22,216 SF
Listing Agency:
NAI | Charleston
Listed By:
Dexter C. Rumsey, IV
(843) 452-9417
Source:
Naiglobal
Added: Mar 27
Changed: Sep 8
Last Checked: Aug 3 at 5:40AM
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 NAI | Charleston
Investment Insights
Based on property information with market context.
This North Charleston property presents an opportunity for investment or owner occupancy, offering convenient access to I-525. It is suitable for light industrial and distribution uses within the Charleston MSA. The building features a well-maintained office area that includes a showroom, meeting space, and a small kitchenette. The warehouse portion is equipped with a sprinkler system and multiple dock and drive-in doors, providing access to the space. The building has a 21 ft eave height and a 23 ft center, with 20 x 50 column spacing. It includes one 14x16 drive-in door, one 14x12 drive-in door, and two 8x10 dock level doors. The warehouse comprises approximately 17,334 square feet, while the office area covers approximately 4,882 square feet. The property is situated on approximately 1.27 acres. Johnstone Supply will occupy the building through September 2026.
Key Highlights
- Excellent access to I‑525 for servicing the Charleston MSA.
- Prime investment or owner occupant opportunity.
- Sprinklered warehouse with multiple dock and drive‑in doors.
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
$311,823
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
7.09%
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%
$6,236,460
$6.2M
Cap Rate 7%
$4,454,614
$4.5M
Cap Rate 9%
$3,464,700
$3.5M
Market Conditions
NOI Build-Up for 22,216 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
$493.2K $22.20/SF
− Vacancy
−$77.4K −$3.49/SF
EGI
$415.8K $18.71/SF
− OpEx
−$103.9K −$4.68/SF
NOI
$311.8K $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%
$6,236,460
Cap Rate 7%
$4,454,614
Cap Rate 9%
$3,464,700
Alternative Uses
Best Use
Office B
$4.45M
$3.90M – $5.20M
NOI $311,823 @ 7.0% cap · market cap 7.09%
Second Best
Warehouse
$4.17M
$3.65M – $4.86M
NOI $291,774 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$6.01M
$5.26M – $7.01M
NOI $420,842 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29405, SC
25,620
Population
13,058
Households
2
Avg Household Size
37
Median Age
27%
College-Educated
84%
High-School Grad
14.7 sq mi
ZIP Area
1,743
Density / Sq Mi
$54,566
Median Household Income
$35,887
Median Earnings
$1,196
Median Rent
$266,200
Median Home Value
Market
Vacancy Rate% for Office in Charleston, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Craig Kiriokos, Realtor - Bright City Brokerage — 1910 Cosgrove Ave, North Charleston, SC 29405
Frequently Asked Questions
What type of property is this?
Warehouse - Well-maintained building with office and warehouse space for sale.
Where is this warehouse located?
The property is located at North Charleston, SC.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Excellent access to I‑525 for servicing the Charleston MSA.; Prime investment or owner occupant opportunity.; Sprinklered warehouse with multiple dock and drive‑in doors.
