5075 Dorchester RdNorth Charleston, SC 29418

  • Retail properties
  • 8,819 SF
For Sale
$1,095,000 View listing

Property Details for 5075 Dorchester Rd

Year built
1960
Lot size
0.69 AC
Property size (Sq ft)
8,819 SF
Property type
Retail properties
Property subtype
Retail space
APN
408-15-00-073
APU
4081500073

Description

This newly renovated 6,161 square foot shopping center in North Charleston, South Carolina presents a compelling investment opportunity. Located at 5075 Dorchester Rd, 29418, this multi-tenant property boasts a strong 10.13% cap rate and a net operating income (NOI) of $110,916, priced at $1,095,000 ($177.73/sq ft). The property underwent a complete renovation in Spring 2023, including a new roof, HVAC systems, wiring, and plumbing. This significantly reduces potential maintenance expenses for the new owner. The limited landlord liability structure, with tenants responsible for CAM, insurance, taxes, HVAC, and roof repairs, further minimizes risk and operational overhead. Current leases allow for annual rent adjustments of up to 10-20%, providing potential for increased income. There are currently no vacancies, and strong tenant interest persists. The property benefits from its location in a high-growth corridor, within a half-mile of Greystar's new 336-unit multifamily development, Montague Corners, and across the street from national retailers like Planet Fitness, Dollar General, and Save-A-Lot. Its proximity to the Charleston International Airport (within a 10-minute drive) and the ongoing 70-acre riverfront master development plan near the North Charleston Naval Base further enhances its investment appeal. Charleston-North Charleston's robust economic growth, ranking first in fastest-growing metro economies in June, according to the Bureau of Labor Statistics, underscores the property's potential for long-term value appreciation. This high-return investment is particularly attractive in the current high-interest-rate environment, making it ideal for both in-state and out-of-state investors seeking a short-term, high-yield opportunity.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,686,306
    6.5%
    $2,479,668
    7%
    $2,302,548
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,986,802
    Geo Method
    $3,763,392
  • Alternative Use

    Use
    Valuation
    Residential
    $2,091,692
    Hospitality
    $1,915,979
    Educational
    $1,594,072
    Medical
    $1,648,895
    Retail
    $2,479,668
5075 Dorchester Rd, North Charleston, South Carolina

Location Insight

City
North Charleston
County
Charleston
State
South Carolina
Latitude
32.8565
Longitude
-80.0341
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
$10,736
-
-
$33,000
-
$320,000
$230,000
$550,000

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