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

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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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