Upper King Street Building for Sale with 22 On-Site Parking Spaces

Retail-Commercial for Sale
Catylist Listing ID: 30294081
Property Subtypes: Restaurant, Street Retail, Other
Building Size (RSF): 10,245 SF
Gross Building Area: See Agent
Sale Price: $8,900,000
Unit Price: $868.72 PSF
Ceiling: 21 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/7/2019

Overview / Comments

The building was completely renovated in 2014 for Charleston’s first high-end micro distillery, which is relocating to a larger facility nearby. Features include: 22 onsite parking spaces in the rear, a unique copper clad store front, ±66 feet of King Street frontage, 21 foot wood ceilings, all new M.E.P, New insulated 20 year TPO roof membrane, fire sprinkler system and a roll up door in the rear for easy deliveries. The ±2,000/sf second floor features a high-end historical feel and can be separated from the ground floor space and leased out as office, Airbnb or an apartment.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 460-12-02-086
Zoning: GB - General Business
Property Visibility: Excellent
Feet of Frontage: 66
Site Description: Building is located across the street from West Elm and Free People.
Area Description: 499-501 King Street is located in the Upper King Street district widely known as the area that brings a cool, edgy and vibrant energy to Charleston and helped build the culinary scene of the City. Several new mixed-use projects including retail, office and numerous residential units have contributed to this dynamic area. In the last couple of years over 1,000 new hotel rooms have been added to this district furthering the growth.
Tenancy: Multiple Tenants
Property Condition: Excellent
Year Built: 1950
Year Renovated: 2014
Exterior Description: Brick
Total Parking Spaces: 22
Parking Type: Surface
Sprinklers: Wet

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,173 57,192 137,010
Median Age: 29.15 34.17 36.54
Households: 9,718 24,188 57,250

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