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    215 Varnfield Dr Summerville, SC 29483
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    215 Varnfield Dr Summerville, SC 29483

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    • Distribution centers
    • 10,000 SF
    • 1.93 lot acres
    For Lease
    $940,000
    View Listing →
    Summerville Industrial Space Available For Lease
    $940,000
    15,000 SF

    Summerville Industrial Space Available

    15,025 SF industrial space with office in Summerville, SC.

    215 Varnfield Dr, Summerville, SC
    View Listing
    Property ID
    US77-0309128
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution centers

    Property Details for 215 Varnfield Dr

    Year built
    2002
    Lot size
    1.93 lot acres
    Property size
    10,000 SF
    Zone code
    SUMMERVILLE - LI
    Property type
    Distribution centers
    APN
    232-00-01-111
    APU
    2320001111

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,002,000
      Market price range: $191k - $1.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,220,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Summerville
    County
    Berkeley
    State
    South Carolina
    Longitude
    -80.1681
    Latitude
    33.0371
    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
    $45,392
    $20,331
    $158,642
    $178,973
    -
    $434,300
    $3,388,900
    $3,823,200

    Comparable in this City

    • Value Estimation by Request

      326 Deming Way

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    • Value Estimation
      $7,660,000
      21,200 SF

      114 Trigard Ln

      DISTRIBUTION WAREHOUSE • 21,200 SF
      114 Trigard Ln, Summerville, SC 29483-7350
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    • Value Estimation
      $1,270,000
      23,690 SF

      213 Jedburg Rd

      DISTRIBUTION WAREHOUSE • 23,690 SF
      213 Jedburg Rd, Summerville, SC 29483-7516
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    • Value Estimation by Request
      10,463 SF

      Bell Wright Rd Elliana & Cember Way

      Distribution properties • 10,463 SF
      0 Bell Wright Rd Elliana & Cember Way, Summerville, SC 29483
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    • Value Estimation by Request
      5.50 Acres

      1219 Central Ave

      Multifamily properties • 5.50 Acres
      1219 Central Ave, Summerville, SC 29483
      View Details
    • Value Estimation
      $1,855,000
      21,534 SF

      1140 Business Park Rd

      DISTRIBUTION WAREHOUSE • 21,534 SF
      1140 Business Park Rd, Summerville, SC 29483-7425
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      235,691 SF

      New Industrial Facilities in Summerville

      Two rear-loaded industrial facilities totaling 548,864 SF, delivering Q4 2025.
      178 Quality Dr, Summerville, SC 29483
      View Details
    • $1,250,000
      4,800 SF

      Summerville Warehouse with Laydown Yard

      4,800 SF warehouse with laydown yard on 1.25 acres.
      114 Lamplight Cir, Summerville, SC 29483
      View Details
    • $115,000
      1.16 Acres

      Summerville Land with Development Potential

      1.16 acre lot near downtown Summerville, South Carolina.
      01 Pidgeon Bay Rd, Summerville, SC 29483
      View Details
    • $160,000
      2.01 Acres

      Two Acres in Summerville, SC

      Two-acre corner lot in Dorchester 2 County school district.
      100 Wilton Dr, Summerville, SC 29483
      View Details
    • $8,000,000
      23.75 Acres

      23.75 Acres in Summerville, SC

      23.75 acres suitable for residential, commercial, or industrial development.
      W 5 St N, Summerville, SC 29483
      View Details
    • $149,000
      0.41 Acres

      Summerville Land Ready for Development

      Land approved for multifamily construction in convenient Summerville location.
      210 Pidgeon Bay Rd, Summerville, SC 29483
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      128,000 SF

      Class A Warehouse - Summerville, SC

      Modern Distribution Space, Immediate Occupancy
      104 Pinnacle Way, Summerville, SC 29483
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    • $7 SF/Yr
      322,400 SF

      Summerville Logistics Park Space

      Distribution center space available in Summerville, South Carolina.
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    • Contact for pricing
      216,705 SF

      Charleston Distribution Center Prime Location

      Distribution center in Charleston's I-26 corridor, available November-December 2023.
      132 Hodge Rd, Summerville, SC 29483
      View Details
    • Contact for pricing
      548,864 SF

      178 Quality Dr

      Distribution centers • 548,864 SF
      178 Quality Dr, Summerville, SC 29483
      View Details
    • Contact for pricing
      84,000 SF

      Summerville Warehouse Space Available

      83,000 SF warehouse space available for lease.
      430 Industrial Rd, Summerville, SC 29483
      View Details
    • Contact for pricing
      158,340 SF

      Industrial Building Available For Lease

      Industrial building in Summerville, SC, available for lease Q4 2023.
      237 Jedburg Rd, Summerville, SC 29483
      View Details
    View Listing
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    215 Varnfield Dr
    Summerville, SC 29483
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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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