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    2007 2nd Ave Ste A Summerville, SC 29486-7888
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    Property profile & analytics

    2007 2nd Ave Ste A Summerville, SC 29486-7888

    View on Map
    • Super regional malls
    • 6,789 SF
    Off-Market
    Last Sale Oct 19, 2021
    Property ID
    US77-2543168
    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.
    Value Estimations
    $1,455,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 2007 2nd Ave Ste A

    Year built
    2018
    Property size
    6,789 SF
    Zone code
    GOOSE CREEK - PD
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    222-00-00-186
    APU
    2220000186

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,655,000
      6.5%
      $1,530,000
      7%
      $1,420,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,925,000
      Current use
      COMMERCIAL (GENERAL)
      $2,255,000
      Change: +17% Conversion: Easy
      MEDICAL BUILDING
      $1,905,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,815,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Summerville
    County
    Berkeley
    State
    South Carolina
    Longitude
    -80.0983
    Latitude
    33.0582
    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
    2022
    $62,809
    $22,315
    $108,420
    $130,735
    -
    $411,500
    $1,807,000
    $2,218,500

    Comparable in this City

    • Value Estimation
      $1,115,000
      9,060 SF

      1915 State Rd, Unit 1

      REGIONAL SHOPPING CENTER, MALL • 9,060 SF
      1915 State Rd, Summerville, SC 29486-2900
      View Details
    • Value Estimation
      $555,000
      2,370 SF

      2072 Main St

      REGIONAL SHOPPING CENTER, MALL • 2,370 SF
      2072 Main St, Summerville, SC 29486-7866
      View Details
    • Value Estimation
      $1,885,000
      9,088 SF

      2511 Main St, Unit A

      REGIONAL SHOPPING CENTER, MALL • 9,088 SF
      2511 Main St, Summerville, SC 29486-7897
      View Details
    • Value Estimation by Request
      8,442 SF

      111 Brighton Park Blvd

      REGIONAL SHOPPING CENTER, MALL • 8,442 SF
      111 Brighton Park Blvd, Summerville, SC 29486
      View Details
    • Value Estimation
      $7,465,000
      61,005 SF

      1625 Main St, Unit 85

      REGIONAL SHOPPING CENTER, MALL • 61,005 SF
      1625 Main St, Summerville, SC 29486-7864
      View Details
    • Value Estimation by Request
      9,800 SF

      1731 Main St Ste F

      REGIONAL SHOPPING CENTER, MALL • 9,800 SF
      1731 Main St Ste F, Summerville, SC 29486-7846
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Nexton Commercial Land For Sale

      1 to 6.02 acres of commercial land available.
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      View Details
    • $18,000,000
      30,000 SF

      Nexton Mixed-Use Development Opportunity

      Mixed-use property for sale or lease in Nexton, Summerville.
      1227 Nexton Pkwy, Summerville, SC 29486
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    • Contact for pricing
      88,570 SF

      New Self-Storage and Retail Facility

      New Class A self-storage and retail space in Summerville, SC.
      451 Comet Creek Ln, Summerville, SC 29486
      View Details
    • Contact for pricing
      5,800 SF

      Nexton Parkway Retail Spaces

      Summerville, SC: Prime Retail/Office
      1237 Nexton Pkwy, Summerville, SC 29486
      View Details
    • $325,000

      3 Acres of Versatile Land

      3 acres near Summerville, SC, ideal for farming or recreation.
      1640 Calamus Pond Rd, Summerville, SC 29486
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    Similar Nearby for Lease

    • Contact for pricing

      Nexton Square Retail Opportunity

      Retail spaces available in Nexton Square, Summerville.
      801 Nexton Square Dr, Summerville, SC 29486
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    • Contact for pricing
      89,910 SF

      Retail Space in Publix Anchored Center

      Retail spaces available in a Publix anchored center for lease.
      2700 N Main St, Summerville, SC 29486
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    • $35 SF/Yr
      10,000 SF

      Comet Creek Center: Summerville Retail

      8,400 SF Retail Space Available Now
      451 Comet Creek Ln, Summerville, SC 29486
      View Details
    • Contact for pricing

      Retail Space in Publix Anchored Center

      Retail spaces available in a Publix anchored shopping center.
      2700 N Main St, Summerville, SC 29486
      View Details
    • Contact for pricing

      Mixed-Use Development in Summerville, SC

      23.66-acre mixed-use development with retail and multifamily components for rent.
      Nexton Pkwy & Brighton Park Blvd, Summerville, SC 29486
      View Details
    • Contact for pricing

      Mixed-Use Concept in Nexton

      Walkable mixed-use concept with office, retail, and restaurant spaces.
      1227 Nexton Pkwy, Summerville, SC 29486
      View Details
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    Summerville, SC 29486-7888
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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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