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Property profile & analytics
FOR LEASE
Office buildings
1859 Summerville Ave, Charleston, SC 29405
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US77-3001825
For Lease
1 / 2
$18,945,000
1859 Summerville Ave, Charleston, SC 29405
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
44,162 SF
Lot
1.7 ac (74,052 SF)
APN
464-02-00-010
UPID
US77-3001825
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
-
Bevi Bene Brewing Company Production Facility Brewery & Distillery
-
Glaser and Company, LLC Accounting Firm Tax Preparation
-
Cook Bonner Ebeling Construction Inc Construction Company General Contractor
-
Remark Studio Landscaping (Bike/Boat/Book/etc) Store
-
Urban Millennial Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.75M
Blend (final)
Blend
$18.95M
Owner & transaction history
1834 Summerville Ave LLC · 7 yrs held
1834 Summerville Ave LLC
since 2018
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$25.2M
+50.2%
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 Charleston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charleston 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$16,760,000
Current use
RESTAURANT
$25,180,000
Change: +50% · Conversion: Moderate
Blend value · Realmo final
$18.95M
Range $17.05M – $20.84M · ±10%
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
$429 / 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
$173,803
Tax year 2023
Assessed value
$634,540
Assessed 2023
Previous assessed
$476,040
+33.3% YoY
Effective rate
27.39%
On assessed value
Land market value
$1,656,247
Improvement market value
$8,919,553
Total market value
$10,575,800
Applied tax rate
7.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1990
Heating
FORCED AIR
Cooling
NONE
Stories
2
Total area
44,162 SF
Lot
1.7 ac (74,052 SF)
APN
464-02-00-010
UPID
US77-3001825
Jurisdiction
CHARLESTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$16.8M
RESTAURANT
Est. value
$25.2M
OFFICE BUILDING Current
RESTAURANT
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
1990
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
1.7 ac
Current owner
From public records · entity-resolved
1834 Summerville Ave LLC
Entity
Mailing address
1567 MEETING ST RD, CHARLESTON, SC 29405-9339
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2022
—
Summerville Ave LLC
—
Deed
related
$13,500,000 · Encore Bank NA
Nov 30, 2018
$2,680,000
1834 Summerville Ave LLC
Lansing Of Charleston LLC
Grant Deed
$4,492,150 · United Cmnty Bk
Nov 30, 2018
—
1834 Summerville Ave LLC
Lansing Of Charleston LLC
Quit Claim Deed
related
—
Apr 6, 2012
—
Lansing Of Charleston LLC
—
Grant Deed
related
$8,700,086 · Wells Fargo Bank
Oct 7, 2009
—
Lansing Of Charleston LLC
—
Deed Of Trust
related
$9,823,275 · Suntrust Bank NA
Jul 6, 2006
$938,000
Lansing Of Charleston LLC
Kurco INC
Grant Deed
$1,080,000 · Suntrust Bank NA
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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