5075 Dorchester RdNorth Charleston, SC 29418
- Retail properties
- 8,819 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].