3208 Mill StSummerville, SC 29485
- Other commercial real estate
- 10,370 SF
Property Details for 3208 Mill St
- Year built
- 2001
- Lot size
- 1.00 AC
- Property size (Sq ft)
- 10,370 SF
- Property type
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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