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    2532 Spruill Ave North Charleston, SC 29405
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    2532 Spruill Ave North Charleston, SC 29405

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    • Warehouses
    • 24,000 SF
    • 1.66 lot acres
    For Sale
    $5,999,999
    View Listing →
    Renovated Warehouse/Office Space For Sale For Sale
    $5,999,999
    27,840 SF

    Renovated Warehouse/Office Space For Sale

    27,840 SF renovated warehouse/office on 1.73 acres.

    2532 Spruill Ave, North Charleston, SC
    View Listing
    Property ID
    US77-3091014
    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

    • Warehouses

    Property Details for 2532 Spruill Ave

    Year built
    1983
    Lot size
    1.66 lot acres
    Property size
    24,000 SF
    Property type
    Warehouses
    APN
    466-08-00-499
    APU
    4660800499

    Description

    This exceptional 27,840-square-foot warehouse, situated on 1.73 acres in North Charleston, SC (zip code 29405), presents a unique investment opportunity. Completely renovated in 2023, the property boasts a new roof, HVAC system, sprinkler system, polished concrete floors, updated electrical, lighting, plumbing, and restrooms. The main warehouse features three loading docks and offers approximately 3,900 square feet of modern office space, including three private offices and an open lobby/showroom area. Four additional storage buildings are located on the site, though not included in the 27,840 square foot total. The property benefits from a convenient location within the I-526 loop, near the Hugh Leatherman terminal, and is zoned M2 - Heavy Industrial (APN: 466-08-00-499). Features include a 6-inch concrete slab, 3-phase power, and a secure on-site yard. Ideal for a variety of uses, including high-end showroom/storage, manufacturing, distribution, government contracting, or event space. The asking price is $5,999,999. The property is currently vacant and available for immediate occupancy. This is a NNN lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9579
    Latitude
    32.8443
    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
    $45,533
    $0.00
    $0.00
    $158,540
    -
    $1,900,000
    $1,489,500
    $3,389,500

    Comparable in this City

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      2025 Tellico Rd

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    • Value Estimation
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      1360 Truxtun Ave

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    • Value Estimation
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      4214 Domino Ave

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    • Value Estimation
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      4229 Domino Ave

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    • Value Estimation
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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,216 SF

      North Charleston Industrial/Distribution Opportunity

      Well-maintained building with office and warehouse space for sale.
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      View Details
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      Charleston Warehouse/Storage Facility For Sale

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    • $5,999,999
      27,840 SF

      Renovated Warehouse/Office Space For Sale

      27,840 SF renovated warehouse/office on 1.73 acres.
      2532 Spruill Ave, North Charleston, SC 29405
      View Details
    • Contact for pricing
      16,000 SF

      North Charleston Industrial Redevelopment Opportunity

      2.67-acre parcel with buildings, ideal for owner/occupant or redevelopment.
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      View Details
    • $1,100,000

      North Charleston Freestanding Building

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

    Similar Nearby for Lease

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      Flex Unit For Rent

      Flex unit with warehouse and office space available for rent.
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      View Details
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      Warehouse/Office Space with Outdoor Storage

      33,450 SF warehouse/office with 4 AC outdoor storage.
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      Retail-Warehouse Space on Meeting Street

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      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
    View Listing
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    North Charleston, SC 29405
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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.

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    2532 Spruill Ave, North Charleston, SC, 29405
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