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

    5508 Rhett Ave North Charleston, SC 29406-3508

    • Warehouses
    • 2,897 SF
    • 1.93 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0350739
    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

    • Warehouses

    Property Details for 5508 Rhett Ave

    Year built
    1942
    Lot size
    1.93 lot acres
    Property size
    2,897 SF
    Property type
    Warehouses
    APN
    473-16-00-024
    APU
    4731600024

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $575,000
      Market price range: $290k - $575k
      AI Estimate
      $461,000
      Market price range: $85.1k - $461k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $415,000
      Current use
      COMMERCIAL (GENERAL)
      $730,000
      Change: +76% Conversion: Difficult
      RETAIL STORES
      $655,000
      Change: +59% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -79.9848
    Latitude
    32.8991
    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
    $121,985
    $0.00
    $0.00
    $423,000
    -
    $800,000
    $8,600,000
    $9,400,000

    Comparable in this City

    • Value Estimation
      $5,380,000
      30,251 SF

      5850 Rivers Ave

      WAREHOUSE, STORAGE • 30,251 SF
      5850 Rivers Ave, North Charleston, SC 29406-6031
      View Details
    • Value Estimation
      $805,000
      4,500 SF

      1940 Hanahan Rd

      WAREHOUSE, STORAGE • 4,500 SF
      1940 Hanahan Rd, North Charleston, SC 29406-4832
      View Details
    • Value Estimation
      $2,000,000
      11,190 SF

      6201 Fain St

      WAREHOUSE, STORAGE • 11,190 SF
      6201 Fain St, North Charleston, SC 29406-4906
      View Details
    • Value Estimation
      $985,000
      12,000 SF

      6333 Fain St

      WAREHOUSE, STORAGE • 12,000 SF
      6333 Fain St, North Charleston, SC 29406-4907
      View Details
    • Value Estimation
      $785,000
      10,400 SF

      2322 Air Park Rd

      WAREHOUSE, STORAGE • 10,400 SF
      2322 Air Park Rd, North Charleston, SC 29406-6159
      View Details
    • Value Estimation
      $3,225,000
      38,400 SF

      4801 Rivers Ave

      WAREHOUSE, STORAGE • 38,400 SF
      4801 Rivers Ave, North Charleston, SC 29406-6502
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      55 SF

      Cleared Industrial Land For Sale

      55 acres of cleared, graded industrial land with rail access.
      2398 Fain St, Charleston, SC 29406
      View Details
    • Contact for pricing
      15,000 SF

      Renovated Warehouse in North Charleston

      15,000 SF warehouse on 1.3 acres near I-26.
      2314 Air Park Rd, North Charleston, SC 29406
      View Details
    • $1,949,000
      5,000 SF

      Office/Warehouse Near Charleston Airport

      5,000 SF office/warehouse with fenced yard near airport.
      6650 Jet Park Rd, North Charleston, SC 29406
      View Details
    • Contact for pricing
      20,000 SF

      North Charleston Flex Park

      Centrally located flex park with quick access to Charleston.
      2390 Air Park Rd, North Charleston, SC 29406
      View Details
    • $399,999
      0.35 Acres

      Versatile North Charleston Estate

      Unique property with income potential, large garage, and flexible spaces.
      8899 Salamander Rd, North Charleston, SC 29406
      View Details
    • Contact for pricing
      8,463 SF

      Renovated Flex Park in Charleston

      Flex park in North Charleston, minutes from I-26 and I-526.
      5524 Dutton Ave, North Charleston, SC 29406
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Rivers Avenue Industrial Land Lease

      1.06 Acres, Multiple Uses Allowed
      6932 Rivers Ave, North Charleston, SC 29406
      View Details
    • $15 SF/Yr
      15,000 SF

      Renovated Warehouse in North Charleston

      15,000 SF warehouse on 1.3 acres available for lease.
      2314-2413 Air Park Rd, North Charleston, SC 29406
      View Details
    • $14 SF/Yr
      250,000 SF

      North Charleston Warehouse Space

      22,159 SF Available, I-26 Access
      4750 Goer Dr, North Charleston, SC 29406
      View Details
    • $20 SF/Yr
      28,470 SF

      Charleston Flex Space - 28,470 SF

      Modern flex units, turnkey & adaptable.
      6548 Ward Ave, Charleston, SC 29406
      View Details
    • $8 SF/Yr
      33,000 SF

      Warehouse with Expansive Laydown Yard

      33,000 SF warehouse with 7.5 AC laydown yard.
      5000 Lacross Rd, North Charleston, SC 29406
      View Details
    • $8 SF/Yr
      33,000 SF

      Warehouse with Outdoor Storage

      33,000 SF warehouse with 7.5 AC outdoor storage.
      5000-5001 Lacross Rd, Charleston, SC 29406
      View Details
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    5508 Rhett Ave
    North Charleston, SC 29406-3508
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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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