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    Property profile & analytics

    2060 Sam Rittenberg Blvd Charleston, SC 29407-4616

    • Office buildings
    • 63,072 SF
    • 10.65 lot acres
    OFF-MARKET
    Last Sale
    Sep 22, 2021
    $31,250,000
    Value Estimations
    $35,570,000
    Show details
    Cap Rate Potential
    2.2%
    Office buildings
    Location Intelligence
    Property ID
    US77-3000309
    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

    • Soonho Kwon, MD, MS / Physician
    • Katherine Culp Silver, MD / Physician
    • MUSC Health Allergy - West Ashley / Physician / Medical Clinic
    • Diane Leigh Kamen, MD, MSCR / Physician
    • Shane Kelby Woolf, MD / Medical Clinic / Hospital

    Property Details for 2060 Sam Rittenberg Blvd

    Year built
    1981
    Lot size
    10.65 lot acres
    Property size
    63,072 SF
    Property type
    Office buildings
    APN
    351-09-00-053
    APU
    3510900053

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $42,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $36,663,000
      Market price range: $16.6M - $36.7M
      AI Estimate
      $36,663,000
      Market price range: $16.6M - $36.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $24,320,000
      Current use
      RESTAURANT
      $35,960,000
      Change: +48% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $21,810,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.0298
    Latitude
    32.7974
    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
    $438,233
    $0.00
    $0.00
    $1,509,000
    -
    $5,000,000
    $20,150,000
    $25,150,000

    Comparable in this City

    • Value Estimation
      $6,580,000
      25,060 SF

      720 Magnolia Rd Ste, Unit 10

      OFFICE BUILDING • 25,060 SF
      720 Magnolia Rd Ste, Charleston, SC 29407-7094
      View Details
    • Value Estimation
      $1,260,000
      2,814 SF

      1851 Sam Rittenberg Blvd

      OFFICE BUILDING • 2,814 SF
      1851 Sam Rittenberg Blvd, Charleston, SC 29407-4870
      View Details
    • Value Estimation
      $2,070,000
      3,561 SF

      1923 Sam Rittenberg Blvd

      OFFICE BUILDING • 3,561 SF
      1923 Sam Rittenberg Blvd, Charleston, SC 29407-4825
      View Details
    • Value Estimation
      $1,165,000
      3,484 SF

      1871 Savage Rd

      OFFICE BUILDING • 3,484 SF
      1871 Savage Rd, Charleston, SC 29407-4726
      View Details
    • Value Estimation
      $1,240,000
      4,561 SF

      1255 Savannah Hwy

      OFFICE BUILDING • 4,561 SF
      1255 Savannah Hwy, Charleston, SC 29407
      View Details
    • Value Estimation
      $1,895,000
      6,720 SF

      1123 Ashley Riv Rd

      OFFICE BUILDING • 6,720 SF
      1123 Ashley Riv Rd, Charleston, SC 29407-7101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      54,500 SF

      Northbridge Executive Park Investment

      Two-building office campus near Ashley Landing redevelopment.
      1176-1180 Sam Rittenberg Blvd, Charleston, SC 29407
      View Details
    • Contact for pricing
      3,225 SF

      West Ashley Investment Opportunity

      Commercial and residential portfolio with income and development potential.
      1224 Wappoo Rd, Charleston, SC 29407
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    • $2,125,000
      8,500 SF

      Two Connecting Office Condos

      Two well-maintained, connecting office condos totaling approximately 8,500 square feet.
      15 Gamecock Ave, Charleston, SC 29407
      View Details
    • $2,100,000
      9,924 SF

      West Ashley Freestanding Office Building

      Freestanding office building in central West Ashley with ample parking.
      14 Farmfield Rd, Charleston, SC 29407
      View Details
    • $2,100,000
      9,924 SF

      West Ashley Freestanding Office Building

      9,924 SF office building on 0.79 acres for sale.
      14 Farmfield Ave, Charleston, SC 29407
      View Details

    Similar Nearby for Lease

    • $33 SF/Yr
      34,765 SF

      Class A Office Building

      Class A office building in the heart of West Ashley.
      1014 St. Andrews Blvd, Charleston, SC 29407
      View Details
    • $20 SF/Yr
      11,065 SF

      Charleston Executive Office Suites

      Prime Charleston office space, modern renovations.
      1180 Sam Rittenberg Blvd, Charleston, SC 29407
      View Details
    • Contact for pricing
      4,000 SF

      Charleston Office Park Investment

      Prime Charleston Office Space Available
      1 Carriage Ln, Charleston, SC 29407
      View Details
    • $33 SF/Yr
      34,765 SF

      Charleston Medical Office Space for Lease

      Class A Office Suites, West Ashley, SC
      1014 St Andrews Blvd, Charleston, SC 29407
      View Details
    • $24 SF/Yr
      23,909 SF

      Charleston Executive Office Space

      Prestigious Office Suites, Ample Parking
      1 Park Cir, Charleston, SC 29407
      View Details
    • $24 SF/Yr
      11,018 SF

      Garden View Office Park, Charleston SC

      West Ashley Office Space Available Now
      1064 Gardner Rd, Charleston, SC 29407
      View Details
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    Charleston, SC 29407-4616
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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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