Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2198 Milford St Charleston, SC 29405-9418

    • Commercial real estate
    • 22,620 SF
    • 12.23 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2022
    Value Estimations
    $10,670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-2154918
    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

    • Commercial real estate

    Property Details for 2198 Milford St

    Year built
    2000
    Lot size
    12.23 lot acres
    Property size
    22,620 SF
    Property type
    Commercial real estate
    APN
    466-00-00-046
    APU
    4660000046

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,669,000
      Market price range: $2.58M - $10.7M
      AI Estimate
      $10,669,000
      Market price range: $2.58M - $10.7M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $12,895,000
      OFFICE BUILDING
      $8,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9566
    Latitude
    32.825
    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
    $295,612
    $0.00
    $0.00
    $1,080,060
    -
    $18,000,000
    $1,000
    $18,001,000

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      1898 Hackemann Ave

      COMMERCIAL (GENERAL) • 0.07 Acres
      1898 Hackemann Ave, North Charleston, SC 29405-8301
      View Details
    • Value Estimation by Request
      1.99 Acres

      Hobson Ave

      COMMERCIAL (GENERAL) • 1.99 Acres
      Hobson Ave, North Charleston, SC 29405
      View Details
    • Value Estimation by Request
      0.31 Acres

      3200 Carolina Ave

      COMMERCIAL (GENERAL) • 0.31 Acres
      3200 Carolina Ave, North Charleston, SC 29405-7822
      View Details
    • Value Estimation by Request
      12.30 Acres

      4800 Park E Pl

      COMMERCIAL (GENERAL) • 12.30 Acres
      4800 Park E Pl, North Charleston, SC 29405-4760
      View Details
    • Value Estimation by Request
      4,000 SF

      2017 Reynolds Ave

      COMMERCIAL (GENERAL) • 4,000 SF
      2017 Reynolds Ave, North Charleston, SC 29405-7874
      View Details
    • Value Estimation by Request
      4,184 SF

      1925 Reynolds Ave

      COMMERCIAL (GENERAL) • 4,184 SF
      1925 Reynolds Ave, North Charleston, SC 29405-7818
      View Details

    Similar Nearby for Sale

    • $1,000,000
      1.85 Acres

      Prime B1 North Charleston Land

      1.85 Acres, B1 Zoning, High Visibility
      5154 Rhett Ave, North Charleston, SC 29405
      View Details
    • $2,295,000
      3,500 SF

      King Street Charleston Investment

      Prime Charleston location, 0.37 acres, 3,500 SF building.
      1337 King Street Ext, North Charleston, SC 29405
      View Details
    • $3,200,000
      0.69 Acres

      King Street Development Opportunity

      Five lots, prime Charleston location.
      1337 King Street Ext, North Charleston, SC 29405
      View Details
    • $597,600

      Charleston Industrial Land for Sale

      Approximately 5.5 acre industrial land for sale in Charleston, SC.
      1981 Pittsburgh Ave, Charleston, SC 29405
      View Details
    • Contact for pricing
      150,000 SF

      Navy Yard Redevelopment Opportunity

      Flexible office, retail, and restaurant spaces in revitalized Navy Yard.
      2301 Noisette Blvd, North Charleston, SC 29405
      View Details
    • $1,100,000
      8,500 SF

      North Charleston Value-Add Opportunity

      8,500 SF building on 1 acre, prime location.
      4301 Meeting Street Rd, North Charleston, SC 29405
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      40,000 SF

      Navy Yard Office Space Available

      Historic building, modern offices, flexible suites
      1535 Hobby St, North Charleston, SC 29405
      View Details
    • $42 SF/Yr
      6,000 SF

      North Charleston Office Suites

      Modern office spaces, flexible layouts.
      1819 Meeting Street Rd, Charleston, SC 29405
      View Details
    • $14 SF/Yr
      14,471 SF

      Dorchester Road Flex Space Available

      Newly renovated flex space; prime location.
      4155 Dorchester Rd, North Charleston, SC 29405
      View Details
    • $17,500 /Mo
      4,000 SF

      Industrial Warehouse with Outdoor Storage

      Cleared, fenced land with warehouse near port and I-26.
      2026 Meeting Street Rd, Charleston, SC 29405
      View Details
    • Contact for pricing
      5,000 SF

      Charleston Industrial Land with Building

      2.5 acres with 5,000 SF building for lease.
      1647 King Street Ext, N Charleston, SC 29405
      View Details
    • $18 SF/Yr
      12,000 SF

      Reynolds Avenue Retail Opportunity

      Restaurant, coffee shop, or tavern space for lease.
      2018 Reynolds Ave, Charleston, SC 29405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2198 Milford St
    Charleston, SC 29405-9418
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.