2185 Ashley Phosphate RdNorth Charleston, SC 29406

This six-building, 32,260 square foot Class B office park in North Charleston, SC, presents a compelling value-add investment opportunity. Located on a 3-acre lot at 2185 Ashley Phosphate Rd (zip code 29406), the property boasts high visibility (over 60,000 vehicles per day) and ample free parking. Currently 85% occupied by 17 tenants, including essential services and medical users, the park offers a diverse tenant mix with a strong track record. Recent renovations (2021) included exterior brick and foundation work, roof updates, landscaping, new signage, enhanced security, and modern design features. The property features 20 units ranging in size from 1,204 to 3,173 square feet, with 3% annual rent bumps. The asking price is $5,250,000, representing a current cap rate of 6.70% and a pro-forma cap rate of 9.00%. The Net Operating Income (NOI) is currently $351,962, with a pro-forma NOI of $472,673. Built in 1979, the property consists of six two-story buildings, zoned GC. The property is fee simple ownership with a NNN lease type and no ground lease. The location offers proximity to major national brands, providing convenient access to retail and hospitality services for tenants. A potential pad site for build-to-suit development is also available.