Condo & Commercial Development Site
Multi-Family
for Sale
Also listed as Retail-Commercial, Office
| Catylist Listing ID: |
30216596 |
| Property Subtypes: |
Low-Rise/Garden, Mixed Use, Other
|
| Number of Units: |
20 Units |
| Building Size (RSF): |
20,162 SF |
| Gross Land Area: |
0.22 Acres
|
| Sale Price: |
$8,850,000 |
| Unit Price: |
$442,500 Per Unit |
| Ceiling: |
9 ft. |
| Property Use Type: |
Net Leased Investment (NNN), Vacant/Owner-User |
| Building Name: |
35 Prioleau Street - Existing Harbour Club |
| Usable Size (USF): |
20,162 SF |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
4.0% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
1/20/2020 |
Overview / Comments
The City of Charleston has identified this property as a multi-family development site and will allow density to be whatever that is feasibly practical for the developer. This property is an existing restaurant/special event venue. The property includes a historic 3-Story masonry building originally built in 1814. The entire property was completely renovated in 1995 for the existing tenant. Building location sits in the exclusive “French Quarter” area of Downtown Charleston, just off of East Bay Street & Vendue Range. The rear half of building recommended being razed and redeveloped. Property is also available for lease.
Note: May be combined with adjacent building for an additional 8,0000 SF
|
Additional Details
| Nearest MSA: |
Charleston-North Charleston |
| County: |
Charleston |
| Submarket/Township: |
51 - Peninsula Chas. inside of crosstown |
| Taxing Authority: |
City of Chaleston` |
| Tax ID/APN: |
458-09-02-007 |
| Zoning: |
LB - Limited Business |
| Property Located Between: |
East Bay Street and Vendue Range |
| Area Description: |
Historic Charleston French Quarter |
| Total Number of Buildings: |
1 |
| Property Condition: |
Excellent |
| Number of Stories: |
3 |
| Year Built: |
1814 |
| Year Renovated: |
1995 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick, Stucco |
| Exterior Description: |
Painted stucco and exposed historic brick. |
| Parking Type: |
Structure |
| Parking Description: |
Street parking and parking passes in City of Charleston parking garage i-block away. |
| Passenger Elevators: |
1 |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Fuel: |
Gas |
| Air Conditioning: |
Engineered System, Package Unit |
| Internet Access: |
Cable, Satellite |
| Zoning Description: |
The City of Charleston strongly supports the changing of zoning and height variances to allow for a high-end residential condo development here in the French Quarter of Charleston. |
| Lot Frontage: |
110 |
| Lot Depth: |
90 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
14,441 |
58,035 |
126,951 |
| Median Age: |
30.89 |
34.45 |
36.84 |
| Households: |
5,764 |
24,079 |
54,042 |
|
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