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    Property profile & analytics

    1156 Drop Off Dr, Unit A Summerville, SC 29486-7271

    • Distribution centers
    • 34,500 SF
    • 6.13 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2022
    $5,340,000
    Value Estimations
    $5,025,000
    Show details
    Cap Rate Potential
    4%
    Distribution centers
    Location Intelligence
    Property ID
    US77-0606656
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Western Quartz / Stone Supplier
    • Planet Dance / Dance School
    • TRACO Drywall / Construction Company
    • Capital Electric / Electrical Supply Store

    Property Details for 1156 Drop Off Dr

    Year built
    2021
    Lot size
    6.13 lot acres
    Property size
    34,500 SF
    Zone code
    BERKELEY COUNTY - LI
    Property type
    Distribution centers
    APN
    207-00-02-121
    APU
    2070002121

    Description

    This exceptional 4,500-square-foot flex space at 1156 Drop Off Drive in Summerville offers immediate access to I-26, perfectly situated within the area's thriving industrial sector. The unit boasts a highly functional layout ideal for a variety of businesses. Key features include a generous 24-foot ceiling height, providing ample vertical storage space. A brand new office area is incorporated, featuring expansive windows that offer excellent natural light and visibility throughout the warehouse. Loading and unloading is simplified with a large roll-up door at the front of the unit. Extensive parking is available, easily accommodating semi-trucks, box trucks, delivery vehicles, employees, and visitors. The property's design includes a generous turn-around radius, ensuring efficient and safe maneuvering for all types of vehicles. This property presents a unique opportunity for businesses seeking a well-appointed and strategically located industrial space in Summerville. The combination of size, features, and location makes this an attractive option for companies needing immediate occupancy. The property is available for lease as a single unit. The convenient access to I-26 provides excellent connectivity to regional transportation networks, enhancing logistical efficiency for any tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,005,000
      ML approach
      $4,430,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,305,000
      6.5%
      $3,055,000
      7%
      $2,835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,003,000
      Market price range: $3.35M - $5.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,210,000
      Current use
      AUTO REPAIR, GARAGE
      $7,570,000
      Change: +80% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Summerville
    County
    Berkeley
    State
    South Carolina
    Longitude
    -80.1838
    Latitude
    33.0682
    CBSA code
    16700
    CBSA name
    CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $68,659
    $84,072
    $216,713
    $300,785
    -
    $1,542,500
    $3,976,100
    $5,518,600

    Comparable in this City

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      $27,915,000
      476,280 SF

      200 Trade Zone Blvd

      DISTRIBUTION WAREHOUSE • 476,280 SF
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      View Details
    • Value Estimation
      $985,000
      16,480 SF

      124 Jed Park Pl

      DISTRIBUTION WAREHOUSE • 16,480 SF
      124 Jed Park Pl, Summerville, SC 29486-7228
      View Details
    • Value Estimation
      $20,485,000
      247,288 SF

      1057 Jedburg Rd

      DISTRIBUTION WAREHOUSE • 247,288 SF
      1057 Jedburg Rd, Summerville, SC 29486
      View Details
    • Value Estimation by Request
      354,202 SF

      607 Tradeport Dr

      Distribution properties • 354,202 SF
      607 Tradeport Dr, Summerville, SC 29486
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    • Value Estimation by Request
      6,864 SF

      1880 Main St, Unit 101

      DISTRIBUTION WAREHOUSE • 6,864 SF
      1880 Main St, Summerville, SC 29486-7809
      View Details
    • Value Estimation by Request
      2,400 SF

      141 Slate Stone Dr

      DISTRIBUTION WAREHOUSE • 2,400 SF
      141 Slate Stone Dr, Summerville, SC 29486-5311
      View Details

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      Office/Warehouse Building with Fenced Yard

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    Similar Nearby for Lease

    • Contact for pricing
      163,182 SF

      Charleston Logistics Center Sublease

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      View Details
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      Charleston Tradeport Warehouse For Lease

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      343,118 SF

      Class A Industrial Warehouse, Summerville SC

      Large Warehouse Space - Excellent Location
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      Prime Summerville location, flexible space available.
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      View Details
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    Summerville, SC 29486-7271
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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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