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    508 Ml St Mount Pleasant, SC 29464-4349
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    508 Ml St Mount Pleasant, SC 29464-4349

    View on Map
    • Turn key restaurants
    • 5,752 SF
    • 0.97 lot acres
    Off-Market
    Last Sale Oct 1, 2020
    $4,450,000
    Property ID
    US77-1204975
    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
    $5,935,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Charleston Crab House / Restaurant
    • Shem Creek Bar and Grill / Restaurant
    • Shem Creek Crab House / Restaurant
    • Liberty Mutual Car Insurance / Financial Advisor / Insurance Agency

    Property Details for 508 Ml St

    Year built
    1984
    Lot size
    0.97 lot acres
    Property size
    5,752 SF
    Property type
    Turn key restaurants
    APN
    517-16-00-078
    APU
    5171600078

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,550,000
      Market price range: $2.69M - $8.50M
      AI Estimate
      $6,550,000
      Market price range: $2.69M - $8.50M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.8784
    Latitude
    32.7928
    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
    $72,106
    $0.00
    $0.00
    $241,900
    -
    $1,500,000
    $2,950,000
    $4,450,000

    Comparable in this City

    • Value Estimation
      $1,670,000
      3,477 SF

      819 Coleman Blvd

      RESTAURANT • 3,477 SF
      819 Coleman Blvd, Mount Pleasant, SC 29464-4021
      View Details
    • Value Estimation
      $10,000,000
      3,231 SF

      97 Ml St

      RESTAURANT • 3,231 SF
      97 Ml St, Mount Pleasant, SC 29464
      View Details
    • Value Estimation
      $2,135,000
      3,176 SF

      414 Coleman Blvd

      RESTAURANT • 3,176 SF
      414 Coleman Blvd, Mount Pleasant, SC 29464
      View Details
    • Value Estimation
      $3,550,000
      5,140 SF

      1787 Hwy 17

      RESTAURANT • 5,140 SF
      1787 Hwy 17, Mount Pleasant, SC 29464-3334
      View Details
    • Value Estimation
      $3,340,000
      3,976 SF

      1533 Hwy 17

      RESTAURANT • 3,976 SF
      1533 Hwy 17, Mount Pleasant, SC 29464-3766
      View Details
    • Value Estimation
      $2,055,000
      2,915 SF

      900 Houston Northcutt Blvd

      RESTAURANT • 2,915 SF
      900 Houston Northcutt Blvd, Mount Pleasant, SC 29464-3770
      View Details

    Similar Nearby for Sale

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      5,727 SF

      Mount Pleasant Retail Building For Sale

      Large, standalone retail building in desirable Mount Pleasant location.
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    • $1,800,000

      Leased Flex Warehouse Investment

      Fully leased flex warehouse in Mt. Pleasant with long-term tenant.
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      63,061 SF

      Class A Mixed-Use Asset

      63,061 SF mixed-use property in Mount Pleasant, SC.
      766 S Shelmore Blvd, Mount Pleasant, SC 29464
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      1,200 SF

      Retail Property in Mount Pleasant

      Retail space available for purchase in Mount Pleasant, SC.
      580 Long Point Rd, Mount Pleasant, SC 29464
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      7,130 SF

      Dual-Tenant Retail Investment Opportunity

      Net-leased investment with Starbucks and National Tire & Battery.
      1824 Highway 17 N, Mount Pleasant, SC 29464
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    • $1,800,000
      3,942 SF

      Leased Flex Warehouse Investment Opportunity

      Fully leased flex warehouse in Mt. Pleasant with tenant in place.
      1235 Ben Sawyer Blvd, Mount Pleasant, SC 29464
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    Similar Nearby for Lease

    • Contact for pricing
      4,480 SF

      Mixed-Use Destination in Mount Pleasant

      Mixed-use destination with shops, restaurants, and entertainment options.
      1740 Towne Centre Way, Mount Pleasant, SC 29464
      View Details
    • Contact for pricing

      Class A Flex Space

      Flex building with showroom/office and fully conditioned warehouse space.
      547 Long Point Rd, Mount Pleasant, SC 29464
      View Details
    • Contact for pricing

      Retail Space Near Ravenel Bridge

      Shopping center anchored by Whole Foods near Ravenel Bridge.
      855 Houston Northcutt Blvd, Mt Pleasant, SC 29464
      View Details
    • Contact for pricing
      3,553 SF

      Retail Space in Belle Hall

      Retail space available in open-air shopping center.
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      View Details
    • Contact for pricing
      1,500 SF

      Bowman Place Retail Outparcel

      Retail outparcel in Mt. Pleasant's premier retail destination.
      1132 Bowman Rd, Mount Pleasant, SC 29464
      View Details
    • Contact for pricing

      Retail Space Near Ravenel Bridge

      Retail space in Whole Foods anchored shopping center available for lease.
      855 Houston Northcutt Blvd, Mount Pleasant, SC 29464
      View Details
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    Mount Pleasant, SC 29464-4349
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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.

    More about this property
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