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

    538 Folly Rd Charleston, SC 29412-3002

    • Turn key restaurants
    • 3,692 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $1,590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0611830
    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

    • Melvin's BBQ - James Island / Barbecue Restaurant / Restaurant

    Property Details for 538 Folly Rd

    Year built
    1987
    Lot size
    0.46 lot acres
    Property size
    3,692 SF
    Property type
    Turn key restaurants
    APN
    340-00-00-061
    APU
    3400000061

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,043,000
      Market price range: $1.03M - $3.00M
      AI Estimate
      $1,138,000
      Market price range: $469k - $1.83M

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.972
    Latitude
    32.7527
    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
    $33,380
    $0.00
    $0.00
    $106,760
    -
    $761,406
    $1,358,094
    $2,119,500

    Comparable in this City

    • Value Estimation
      $635,000
      2,760 SF

      890 Folly Rd

      RESTAURANT • 2,760 SF
      890 Folly Rd, Charleston, SC 29412-3452
      View Details
    • Value Estimation
      $955,000
      2,044 SF

      331 Folly Rd

      RESTAURANT • 2,044 SF
      331 Folly Rd, Charleston, SC 29412-2548
      View Details
    • Value Estimation by Request
      1,335 SF

      1041 Folly Rd

      RESTAURANT • 1,335 SF
      1041 Folly Rd, Charleston, SC 29412-3921
      View Details
    • Value Estimation
      $1,150,000
      2,862 SF

      341 Folly Rd

      RESTAURANT • 2,862 SF
      341 Folly Rd, Charleston, SC 29412-2548
      View Details
    • Value Estimation
      $2,005,000
      5,770 SF

      771 Daniel Ellis Dr

      RESTAURANT • 5,770 SF
      771 Daniel Ellis Dr, Charleston, SC 29412-3035
      View Details
    • Value Estimation
      $2,365,000
      3,970 SF

      333 Folly Rd

      RESTAURANT • 3,970 SF
      333 Folly Rd, Charleston, SC 29412-2548
      View Details

    Similar Nearby for Sale

    • $397,000

      James Island Commercial Lot For Sale

      Commercial lot in a high-traffic area, ideal for development.
      1444 Folly Rd, Charleston, SC 29412
      View Details
    • $300,000
      1.00 Acre

      Wooded Lot in Desirable Location

      Wooded lot near Folly Beach and downtown Charleston.
      Rafael Ln, Charleston, SC 29412
      View Details
    • $220,000

      James Island Half-Acre Lot

      Half-acre lot on James Island, close to Folly Beach.
      1872 Arsburn Rd, Charleston, SC 29412
      View Details
    • $695,000
      0.35 Acres

      James Island Investment Property

      Duplex in established market with business zoning and cashflow.
      969 Harbor View Rd, Charleston, SC 29412
      View Details
    • $500,000
      5.77 Acres

      James Island Land For Sale

      5.77 acre land parcel in James Island, South Carolina.
      Scott Hill Rd, Charleston, SC 29412
      View Details
    • $425,000

      Corner Lot Near Folly Beach

      Flat, clear land suitable for residential or office use.
      1206 Folly Road Blvd, Charleston, SC 29412
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,300 SF

      Restaurant or Retail Space Available

      Restaurant or retail property with planned improvements and high visibility.
      1978 Maybank Hwy, Charleston, SC 29412
      View Details
    • Contact for pricing

      Riverland Terrace Retail Opportunity

      Retail space in high-traffic area near downtown Charleston.
      2040 Maybank Hwy, Charleston, SC 29412
      View Details
    • $38 SF/Yr
      90,993 SF

      James Island Retail Space Available

      High-traffic retail space in Charleston, SC.
      1739 Maybank Hwy, Charleston, SC 29412
      View Details
    • Contact for pricing
      39,730 SF

      Island plaza

      Retail properties • 39,730 SF
      1291 Folly Rd, Charleston, SC 29412
      View Details
    • $26 SF/Yr
      640 SF

      Retail Space on Folly Road

      Retail space for lease in a high-traffic shopping center.
      915 Folly Rd, Charleston, SC 29412
      View Details
    • $36 SF/Yr
      90,993 SF

      Retail Space in James Island

      Retail space for lease in a high-traffic shopping center.
      1739 Maybank Hwy, Charleston, SC 29412
      View Details
    Request Owner's contact information
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    538 Folly Rd
    Charleston, SC 29412-3002
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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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