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Property profile & analytics
OFF-MARKET
Estimated value
$10,330,000
Hotels
61 State St Charleston, SC 29401-2026
Entity Owned
7-yr Hold
Free & Clear
Property ID
US77-1074559
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1981
Total area
6,390 SF
Lot
0.26 ac (11,326 SF)
APN
458-05-03-088
UPID
US77-1074559
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
-
The Loutrel Hotel & Motel
-
Veranda Lounge Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.33M
Blend (final)
Blend
$10.33M
Owner & transaction history
61 St Street Hotel Ptrs LLC · 7 yrs held
61 St Street Hotel Ptrs LLC
since 2018
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$7.0M
+3.1%
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 Charleston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charleston 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
HOTEL/MOTEL
$6,815,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,025,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$10.33M
Range $9.30M – $11.36M · ±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
$1,617 / 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
$327,868
Tax year 2023
Assessed value
$1,194,110
Assessed 2023
Previous assessed
$1,194,110
+0.0% YoY
Effective rate
27.46%
On assessed value
Land market value
$4,345,495
Improvement market value
$15,556,305
Total market value
$19,901,800
Applied tax rate
7.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1981
Heating
HEAT PUMP
Stories
1
Total area
6,390 SF
Lot
0.26 ac (11,326 SF)
APN
458-05-03-088
UPID
US77-1074559
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
HOTEL/MOTEL Current
Est. value
$6.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.0M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
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
1981
Heating
HEAT PUMP
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
61 St Street Hotel Ptrs LLC
Entity
Free & Clear · 7 yrs held
Mailing address
61 STATE ST #201, CHARLESTON, SC 29401-2026
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2024
—
State Street Hotel Partners LLC
—
Deed
related
$17,500,000 · Northeast Bank
Jul 29, 2019
—
61 St Street Hotel Ptrs LLC
—
Grant Deed
related
$15,500,000 · Southern First Bk NA
Dec 6, 2018
—
61 St Street Hotel Ptrs LLC
Poppys Holdings LLC
Grant Deed
related
—
Feb 26, 2015
—
Poppys Holdings LLC
Gattis Sidney T III
Grant Deed
related
—
Feb 9, 2015
$120,833
Sidney T Gattis III
Reynolds Charlotte C
Grant Deed
—
Jan 28, 2015
—
William T III|gattis Sidney Smith III
Smith William T Trust
Quit Claim Deed
related
—
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.
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