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

    3208 Mill St Summerville, SC 29485

    • Commercial real estate
    • 10,370 SF
    • 1.00 lot acres
    For Lease
    View listing
    Last Sale
    Jan 31, 2025
    $1,950,000
    Value Estimations
    $2,075,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0972969
    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

    • ChristWay Worship Center / Church
    • Lowcountry Area Wrestling / Sports School
    • Leveled Up - Summer Camp, After School, and Martial Arts / Training Center / Sports School
    • Dance Den / Training Center

    Property Details for 3208 Mill St

    Year built
    2001
    Lot size
    1.00 lot acres
    Property size
    10,370 SF
    Property type
    Commercial real estate
    APN
    385-10-00-007
    APU
    3851000007

    Description

    This exceptional 10,468 square foot multi-tenant flex building, located at 3208 Mill St in Summerville, SC 29485, presents a compelling investment opportunity. The Class B property, built in 2001 and situated on a one-acre lot, boasts five units with a current NOI of $139,710 and a pro-forma NOI of $155,150, reflecting a 6.65% cap rate and a pro-forma cap rate of 7.39%. The asking price is $2,100,000, translating to $200.61 per square foot and $420,000 per unit. The property features three dock-high doors and one loading dock, making it ideal for various industrial uses. Currently 100% occupied with a mix of NNN leases, including some month-to-month tenancies offering immediate value-add potential through lease renegotiation. The property's strategic location in the Charleston MSA, near Interstate-26 and the rapidly growing Nexton mixed-use development (less than four miles away), ensures strong tenant demand and future appreciation. The flexible unit sizes, ranging from approximately 1,155 to 5,618 square feet, cater to a diverse range of businesses. This fee-simple ownership opportunity offers significant upside potential for both owner-users and investors. Seller financing is available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,980,000
      6.5%
      $2,750,000
      7%
      $2,555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,106,000
      Market price range: $1.09M - $5.76M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,445,000
      Current use
      MEDICAL BUILDING
      $2,915,000
      Change: -15% Conversion: Easy
      OFFICE BUILDING
      $2,770,000
      Change: -20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Summerville
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.1387
    Latitude
    33.0142
    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
    $12,373
    $0.00
    $0.00
    $46,800
    -
    $200,000
    $580,000
    $780,000

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      Community Rd

      COMMERCIAL (GENERAL) • 0.20 Acres
      Community Rd, Summerville, SC 29485
      View Details
    • Value Estimation by Request
      1.93 Acres

      Dorchester Rd

      COMMERCIAL (GENERAL) • 1.93 Acres
      Dorchester Rd, Summerville, SC 29485
      View Details
    • Value Estimation by Request
      2.12 Acres

      Limehouse Dr

      COMMERCIAL (GENERAL) • 2.12 Acres
      Limehouse Dr, Summerville, SC 29485
      View Details
    • Value Estimation by Request
      0.56 Acres

      134 Smith St

      COMMERCIAL (GENERAL) • 0.56 Acres
      134 Smith St, Summerville, SC 29485-7145
      View Details
    • Value Estimation by Request
      0.64 Acres

      907 Miles Jamison Rd

      COMMERCIAL (GENERAL) • 0.64 Acres
      907 Miles Jamison Rd, Summerville, SC 29485-8705
      View Details
    • Value Estimation by Request
      0.05 Acres

      Parlor Dr

      COMMERCIAL (GENERAL) • 0.05 Acres
      Parlor Dr, Summerville, SC 29485
      View Details

    Similar Nearby for Sale

    • $750,000

      Commercial Land Assemblage For Sale

      Commercial zoned 3-acre assemblage in transformative Summerville area.
      5090 Ashley River Rd, Summerville, SC 29485
      View Details
    • $399,000

      Commercial Property in Summerville, SC

      Versatile commercial property on .29 acres, endless potential.
      10562 Dorchester Rd, Summerville, SC 29485
      View Details
    • $740,000
      4,000 SF

      Summerville Quadplex: Investment Opportunity

      Well-maintained quadplex in Summerville with immediate cash flow potential.
      121 Langley Dr, Summerville, SC 29485
      View Details
    • $675,000
      4,010 SF

      Summerville Quadplex: Investment Opportunity

      Well-maintained quadplex in a convenient Summerville location.
      105 Magwood Dr, Summerville, SC 29485
      View Details
    • $2,500,000
      145.00 Acres

      Land Near Ashley River

      145 acres near Summerville with ponds and river frontage.
      3010 Highway 17A S, Summerville, SC 29485
      View Details
    • $1,000,000
      1 SF

      Dorchester Road Outparcel Opportunity

      Outparcel property near Tractor Supply, ideal for retail use.
      10524 Dorchester Rd, Summerville, SC 29485
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      33,468 SF

      Trolley Square Center Retail Space

      Summerville, SC retail spaces available.
      1525 Old Trolley Rd, Summerville, SC 29485
      View Details
    • Contact for pricing

      Commercial Land in Growing Community

      Commercial land for rent in a developing residential area.
      6000 Front St, Summerville, SC 29485
      View Details
    • $2,050,000
      2,423 SF

      Medical Office Space Available

      Professional office suites for lease in thriving medical complex.
      85 Springview Ln, Summerville, SC 29485
      View Details
    • Contact for pricing
      4,060 SF

      Retail Space in Nexton Square

      Retail space for lease in a vibrant Summerville hub.
      301-309 Front St, Summerville, SC 29485
      View Details
    • $28 SF/Yr
      33,468 SF

      Retail Space in Trolley Square

      Retail spaces for lease in busy Summerville shopping center.
      1525 Old Trolley Rd, Summerville, SC 29485
      View Details
    • $0.19 SF/Yr
      1,530 SF

      Hwy 78 Office & Yard Lease

      Newly renovated office & 1.8-acre yard.
      10573 Us-78, Summerville, SC 29485
      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.
    3208 Mill St
    Summerville, SC 29485
    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.