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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2424 Savannah Hwy Charleston, SC 29414-5322

    • Retail space
    • 32,797 SF
    • 5.33 lot acres
    OFF-MARKET
    Value Estimations
    $9,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0288534
    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

    • Hendrick Lexus Charleston / Car Dealership
    • Gene Reed Enterprises Inc / Association / Organization
    • Hendrick Lexus Charleston Service Center / Auto Repair Shop

    Property Details for 2424 Savannah Hwy

    Year built
    2006
    Lot size
    5.33 lot acres
    Property size
    32,797 SF
    Property type
    Retail space
    APN
    310-06-00-021
    APU
    3100600021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,217,000
      Market price range: $3.90M - $11.2M
      AI Estimate
      $6,928,000
      Market price range: $1.68M - $6.93M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,430,000
      Current use
      OFFICE BUILDING
      $12,445,000
      Change: +68% Conversion: Easy
      COMMERCIAL (GENERAL)
      $11,310,000
      Change: +52% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.0473
    Latitude
    32.7933
    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
    $265,341
    $0.00
    $0.00
    $860,100
    -
    $4,576,834
    $9,758,166
    $14,335,000

    Comparable in this City

    • Value Estimation
      $7,700,000
      73,762 SF

      1975 Magwood Dr

      RETAIL STORES (PERSONAL SERVICES) • 73,762 SF
      1975 Magwood Dr, Charleston, SC 29414-5723
      View Details
    • Value Estimation
      $14,515,000
      149,775 SF

      3050 Ashley Town Ctr Dr

      RETAIL STORES (PERSONAL SERVICES) • 149,775 SF
      3050 Ashley Town Ctr Dr, Charleston, SC 29414-5664
      View Details
    • Value Estimation
      $2,830,000
      10,237 SF

      2152 Savannah Hwy

      RETAIL STORES (PERSONAL SERVICES) • 10,237 SF
      2152 Savannah Hwy, Charleston, SC 29414-5311
      View Details
    • Value Estimation
      $10,860,000
      120,720 SF

      3125 Glenn Mcconnell Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 120,720 SF
      3125 Glenn Mcconnell Pkwy, Charleston, SC 29414-5748
      View Details
    • Value Estimation
      $3,545,000
      12,819 SF

      712 Savage Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,819 SF
      712 Savage Rd, Charleston, SC 29414-5648
      View Details
    • Value Estimation
      $4,610,000
      29,094 SF

      2250 Savannah Hwy

      RETAIL STORES (PERSONAL SERVICES) • 29,094 SF
      2250 Savannah Hwy, Charleston, SC 29414-5314
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9 SF

      Retail Space in Bees Ferry

      1,300 SF suite in vibrant neighborhood shopping center.
      2875 Bees Ferry Rd, Charleston, SC 29414
      View Details
    • Contact for pricing
      40 SF

      Retail Space in West Ashley

      Retail or professional suite available in rejuvenated West Ashley strip center.
      2408 Ashley River Rd, Charleston, SC 29414
      View Details
    • Contact for pricing
      9.25 Acres

      Bees Ferry Road Commercial Land

      Charleston SC commercial land, 9.25 acres
      0 Bees Ferry Rd, Charleston, SC 29414
      View Details
    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase.
      2241 Savannah Hwy, Charleston, SC 29414
      View Details
    • $1,200,000
      4.37 Acres

      Charleston Commercial Land Tract

      4.37 Acres, Prime Location, $1.2M
      0 Shelby Ray Ct, Charleston, SC 29414
      View Details
    • $695,000

      Charleston Commercial Land Opportunity

      Commercial land for sale in Charleston's Carolina Bay community.
      Carolina Bay Dr, Charleston, SC 29414
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,250 SF

      Retail Space on Savannah Highway

      Retail space available for lease on Savannah Highway.
      2280-2282 Savannah Hwy, Charleston, SC 29414
      View Details
    • Contact for pricing
      1,256 SF

      Retail Space in West Ashley

      Retail space available in West Ashley Circle Shopping Center.
      3861 W Ashley Cir, Charleston, SC 29414
      View Details
    • $42 SF/Yr
      3,500 SF

      Retail/Office Space in West Ashley

      3,500 SF retail/office space for lease or sale.
      W Ashley Cir, Charleston, SC 29414
      View Details
    • $33 SF/Yr
      91,809 SF

      West Ashley Retail Spaces Available

      Charleston retail center, prime locations
      0 Bees Ferry Rd, Charleston, SC 29414
      View Details
    • Contact for pricing
      1,450 SF

      Freestanding Retail Building on Ashley

      Renovated 1,450 SF building, ideal for retail or office.
      2323 Ashley River Rd, Charleston, SC 29414
      View Details
    • $16 SF/Yr
      2,800 SF

      Savannah Highway Retail/Office Building

      Free-standing 2,800 SF retail or office building for lease.
      2413 Savannah Hwy, Charleston, SC 29414
      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.
    2424 Savannah Hwy
    Charleston, SC 29414-5322
    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.