3208 Mill StSummerville, SC 29485

Property Details for 3208 Mill St

Year built

2001

Lot size

1.00 AC

Property size (Sq ft)

10,370 SF

Property type

Commercial real estate

APN

385-10-00-007

APU

3851000007

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $2,459,559

  Hospitality

  $2,252,943

  Educational

  $1,874,422

  Medical

  $1,938,886

  Retail

  $2,915,767

Location Insight

City

Summerville

County

Charleston

State

South Carolina

Latitude

33.0142

Longitude

-80.1387

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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