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Property profile & analytics
FOR LEASE
Super regional malls
1585 Central Ave Summerville, SC 29483
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US77-0027837
For Lease
1 / 4
$16,315,000
1585 Central Ave, Summerville, SC 29483
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
62,777 SF
Lot
9.62 ac (419,047 SF)
Zoning code
CG_DC
APN
136-09-00-050
UPID
US77-0027837
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Summerville Tobacco & Vapor (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
CoinGenie Bitcoin ATM Atm
-
Bitbox Bitcoin ATM Atm
-
El Jalapeño Mexican Grill - Knightsville Restaurant
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.09M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.32M
Owner & transaction history
Real Sub LLC · 2 yrs held
Real Sub LLC
since 2023
Last sale
$16.9M
7 recorded transactions
Zoning & alternative use
CG_DC · Summerville, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.1M
+265.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Summerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Summerville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$15,410,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,430,000
6.5%
$16,090,000
7%
$14,940,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,130,000
Change: +266% · Conversion: Moderate
Blend value · Realmo final
$16.32M
Range $14.68M – $17.95M · ±10% · vs last sale $16.88M (Nov 27 2023)
Last sale anchor
$16.88M
Nov 27 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$260 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$203,811
Tax year 2023
Assessed value
$480,607
Assessed 2023
Previous assessed
$480,607
+0.0% YoY
Effective rate
42.41%
On assessed value
Assessed land
$173,160
Assessed improvement
$307,447
Land market value
$2,886,000
Improvement market value
$5,124,119
Total market value
$8,010,119
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Total area
62,777 SF
Lot
9.62 ac (419,047 SF)
Zoning code
CG_DC
APN
136-09-00-050
UPID
US77-0027837
Jurisdiction
DORCHESTER
Zoning & alternative use
CG_DC · Summerville, SC
Zoning CG_DC · permitted uses
CG_DC · Summerville, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Summerville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$11.1M
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
9.62 ac
Current owner
From public records · entity-resolved
Real Sub LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
$16,875,000
Real Sub LLC
Summerville Shoppes LP
Re-recorded Document
related
—
Nov 27, 2023
$16,875,000
Real Sub LLC
Summerville Shoppes LP
Limited Warranty Deed
—
Sep 20, 2019
—
Summerville Shoppes LP
—
Deed
related
$9,350,000 · Regions Bk
Dec 19, 2012
—
Summerville Shoppes LP
—
Deed Of Trust
related
$6,600,000 · Pnc Bk/nj
Jun 30, 2010
$7,700,000
Shoppes LP Summerville
Ofp-summerville Ltd
Grant Deed
related
$6,640,000 · Key Bank & Trust
Sep 2, 2008
—
Ofp-summerville Ltd
—
Deed Of Trust
related
$2,150,000 · Key Bank & Trust
Nov 2, 2004
$225,000
Ofp-summerville Ltd
Woods,joel & Sharon M
Grant Deed
—
—
—
Summerville Shoppes LP
—
Loan Modification
related
$8,000,000 · Pnc Bk
—
—
Summerville Shoppes LP
—
Deed Of Trust
related
$9,350,000 · Regions Bk
—
—
Ofp-summerville Ltd
—
Deed Of Trust
related
$2,150,000 · Key Bank & Trust
—
—
Ofp-summerville Ltd
—
Deed Of Trust
related
$2,150,000 · Key Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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