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Property profile & analytics
FOR LEASE
Retail space
280 Houston Northcutt Blvd Mount Pleasant, SC 29464
Entity Owned
7-yr Hold
Free & Clear
Property ID
US77-0944750
For Lease
1 / 10
$11,920,000
280 Houston Northcutt Blvd, Mount Pleasant, SC 29464
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Total area
31,433 SF
Lot
2.7 ac (117,612 SF)
APN
517-00-00-071
UPID
US77-0944750
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Jessica Lauren Carter at Merle Norman Cosmetic Studio and Spa Cosmetic Store
-
Desire Lash and Hair Hair Salon
-
Copper Penny Boutique Clothing & Fashion Store
-
AILLEA - Charleston/Mt Pleasant (Bike/Boat/Book/etc) Store Cosmetic Store
-
Merle Norman Cosmetic Studio & Medical Spa Cosmetic Store Beauty School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.92M
Blend (final)
Blend
$11.92M
Owner & transaction history
Northcutt Plaza LLC · 7 yrs held
Northcutt Plaza LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$18.4M
+69.9%
Office building
$16.7M
+54.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mount Pleasant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Pleasant submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$10,800,000
Current use
COMMERCIAL (GENERAL)
$18,350,000
Change: +70% · Conversion: Easy
OFFICE BUILDING
$16,695,000
Change: +55% · Conversion: Easy
Blend value · Realmo final
$11.92M
Range $10.73M – $13.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$379 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$200,596
Tax year 2023
Assessed value
$418,030
Assessed 2023
Previous assessed
$418,030
+0.0% YoY
Effective rate
47.99%
On assessed value
Land market value
$4,200,000
Improvement market value
$2,800,000
Total market value
$7,000,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1987
Heating
HEAT PUMP
Stories
1
Total area
31,433 SF
Lot
2.7 ac (117,612 SF)
APN
517-00-00-071
UPID
US77-0944750
Jurisdiction
CHARLESTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$18.4M
OFFICE BUILDING
Est. value
$16.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Heating
HEAT PUMP
Stories
1
Lot
2.7 ac
Current owner
From public records · entity-resolved
Northcutt Plaza LLC
Entity
Free & Clear · 7 yrs held
Mailing address
8800 MARINA PKWY, MYRTLE BEACH, SC 29572-8101
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2019
$13,500,000
Northcutt Plaza LLC
Coleman Blvd LLC
Grant Deed
—
—
—
Coleman Blvd LLC
—
Deed Of Trust
related
$2,700,000 · Riversource Life Insurance
—
—
Northcutt Plaza LLC
—
Deed Of Trust
related
$9,100,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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