North Charleston, South Carolina, is an attractive location for investors seeking to capitalize on the city's growing economy and strategic location. With 45 retail properties for sale, North Charleston offers a diverse range of investment opportunities. Retail properties in North Charleston can represent a variety of investments, from strip centers and shopping malls to freestanding buildings and restaurants. These properties often benefit from the city's strong infrastructure, including the Charleston Air Force Base, the North Charleston Coliseum, and the Consolidated Mail Outpatient Pharmacy (CMOP). Additionally, North Charleston's proximity to major transportation facilities, such as Charleston International Airport and the Charleston Air Force Base, makes it an ideal location for businesses that rely on air travel. The city's diverse economy, which includes manufacturing, financial services, technology, hospitality, and call center services, also supports the demand for retail properties.
North Charleston's retail properties are situated in a city that offers a unique blend of history, culture, and entertainment. The city is home to institutions like Charleston Southern University, the Medical University of South Carolina, and the North Charleston Coliseum, which attract visitors and residents alike. Additionally, the city's arts scene is thriving, with events like the Lowcountry Indie Shorts Festival and institutions like the H.L. Hunley Museum. Other property types available in North Charleston include shopping centers, which can benefit from the city's strong retail demand; restaurants, which can capitalize on the city's growing food scene; office properties, which can attract businesses seeking to take advantage of the city's diverse economy; and hotels, which can cater to the city's many visitors. Overall, North Charleston's retail properties offer investors a unique opportunity to tap into the city's growing economy and diverse cultural landscape.
What is the average cap rate for retail properties in North Charleston?
When it comes to retail properties in North Charleston, investors can expect an average cap rate of 6.18%, which is a key metric to consider when evaluating potential investments. For those new to commercial real estate investing, it's essential to understand what a cap rate is, which is why we've put together a comprehensive guide on the topic, available at what is a cap rate.
How do location and foot traffic affect retail property values?
In North Charleston, where a population of around 110,000 residents and millions of visitors annually create a dynamic market, the location and foot traffic of retail properties significantly impact their values. For instance, retail properties situated near major transportation hubs like Charleston International Airport, or in high-traffic areas like Park Circle, tend to command higher prices, with an average price per square foot of $648 USD, and average sizes ranging from 12,734 square feet to 256,852 square feet, resulting in a higher average cap rate of 6.18%.
