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Property profile & analytics
OFF-MARKET
Estimated value
$5,625,000
Commercial real estate
2019 Middle St Sullivans Island, SC 29482-9701
Entity Owned
6-yr Hold
Free & Clear
Property ID
US77-0962766
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1979
Total area
7,663 SF
Lot
0.51 ac (22,216 SF)
APN
529-09-00-014
UPID
US77-0962766
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
-
Breathe Studio & Spa Gym & Fitness Center
-
The Co-Op Gourmet Sandwiches Restaurant
-
Sullivan's Restaurant Restaurant
-
Sullivan's Fish Camp Restaurant
-
Breathe Pilates Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.62M
Blend (final)
Blend
$5.63M
Owner & transaction history
2019 Middle St Si LLC · 6 yrs held
2019 Middle St Si LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.2M
+75.2%
Office building
$4.1M
+14.5%
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 Sullivans Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sullivans Island 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
COMMERCIAL (GENERAL)
$3,555,000
Current use
RESTAURANT
$6,230,000
Change: +75% · Conversion: Difficult
OFFICE BUILDING
$4,070,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$5.63M
Range $5.06M – $6.19M · ±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
$734 / 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
$68,135
Tax year 2023
Assessed value
$189,830
Assessed 2023
Previous assessed
$149,630
+26.9% YoY
Effective rate
35.89%
On assessed value
Land market value
$995,000
Improvement market value
$3,000,000
Total market value
$3,995,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1979
Heating
HEAT PUMP
Stories
1
Total area
7,663 SF
Lot
0.51 ac (22,216 SF)
APN
529-09-00-014
UPID
US77-0962766
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
COMMERCIAL (GENERAL) Current
Est. value
$3.6M
RESTAURANT
Est. value
$6.2M
OFFICE BUILDING
Est. value
$4.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1979
Heating
HEAT PUMP
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
2019 Middle St Si LLC
Entity
Free & Clear · 6 yrs held
Mailing address
450 MEETING ST, CHARLESTON, SC 29403-5522
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2024
—
2019 Middle St Si LLC
—
Deed
related
$3,500,000 · First Capital Bank
Oct 9, 2019
—
2019 Middle St Si LLC
—
Deed
related
$2,660,000 · First Cap Bk
Sep 26, 2019
$3,325,000
2019 Middle St Si LLC
2019 Middle Street LLC
Grant Deed
related
—
Oct 4, 2017
—
2019 Middle Street LLC
Grady,jean B
Quit Claim Deed
related
—
Feb 16, 2017
—
Grady,jack P Trust
Grady Jack P Trust
Quit Claim Deed
related
—
Jun 22, 2015
—
Grady,jack P Trust
Grady Jack P
Quit Claim Deed
related
—
May 28, 2008
—
Jean B Grady
Grady,ira M JR
Quit Claim Deed
related
—
—
—
2019 Middle St Si LLC
—
Deed Of Trust
related
$2,660,000 · First Cap Bk
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.
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