For Sale
$2,100,000

3208 Mill StSummerville, SC 29485

High-yield flex space, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • Fully occupied flex building with triple-net (NNN) leases.
  • Charleston MSA location offering a value-add opportunity with below-market leases.
  • Hard corner lot on Highway 78, near Downtown Summerville and I-26.
  • High-growth submarket with significant recent industrial development.
  • Less than four miles from the Nexton mixed-use development.

Property Details for 3208 Mill St

Property type
Warehouses, Life science properties
Square Feet
10,468 SF
Class
B
Year Built
2001
Lot Size (sq. ft)
43,560 SF
Units
5

Location Insight

City
Summerville
County
Charleston
State
South Carolina
Latitude
33.0142258
Longitude
-80.1387463
3208 Mill St, Summerville, South Carolina

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3208 Mill St
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