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    73 Market St Charleston, SC 29401
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    73 Market St, Charleston, SC 29401

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    • Retail properties & Spaces
    • 9,683 SF
    • 0.34 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sunglass Hut / (Bike/Boat/Book/etc) Store
    • City Market Preservation Trust / Charitable Organization / Social Service Agency
    • Wells Fargo ATM / Atm

    Property Details for 73 Market St

    Year built
    1985
    Lot size
    0.34 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity encompasses six Class A storefronts totaling 9,683 square feet, situated on South Market Street and Church Streets in Charleston's historic downtown. These properties are ideally located adjacent to the Charleston City Market, a vibrant hub of tourism and shopping. Built in 1985, the portfolio sits on a 0.338-acre lot and includes two office suites. Charleston's thriving hospitality sector, architectural landmarks, world-class dining, and proximity to beautiful gardens, museums, golf courses, beaches, and cultural attractions contribute to its immense popularity as a tourist destination. The portfolio presents a compelling investment prospect in a high-demand location, benefiting from the city's robust tourism and retail sectors. The combined properties offer significant potential for rental income and appreciation, making this a rare opportunity to acquire a substantial piece of Charleston's thriving commercial real estate market. The address includes 73, 75, and 77 South Market Street, and 175 and 179 Church Street, all in Charleston, South Carolina, zip code 29401, and 79 South Market Street in Frederick, Maryland, zip code 21701. The asking price for this portfolio is $8,995,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9299
    Latitude
    32.7807

    Comparable in this City

    • Value Estimation by Request
      1,064 SF

      71 Wentworth St

      Individual retail properties
      71 Wentworth St, Charleston, SC 29401
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    • Value Estimation by Request
      1,086 SF

      184 Bay St

      Restaurants
      184 Bay St, Charleston, SC 29401
      View Details
    • Value Estimation
      $4,085,000
      14,768 SF

      334 Bay St, Unit 170

      RETAIL STORES (PERSONAL SERVICES)
      334 Bay St, Charleston, SC 29401-1592
      View Details
    • Value Estimation by Request
      3.00 Acres

      238 Bay St

      RETAIL STORES (PERSONAL SERVICES)
      238 Bay St, Charleston, SC 29401-2606
      View Details
    • Value Estimation
      $3,655,000
      40,463 SF

      290 Bay St

      RETAIL STORES (PERSONAL SERVICES)
      290 Bay St, Charleston, SC 29401-1623
      View Details
    • Value Estimation by Request

      111 Bay St

      Office Spaces
      111 Bay St, Charleston, SC 29401
      View Details

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    Charleston, SC 29401
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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
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