Development Opportunity on Bees Ferry - 17.34 upland acres

Vacant Land for Sale
Catylist Listing ID: 30511818
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 55.28 Acres
Sale Price: $4,603,700
Unit Price: $83,279 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/10/2019

Overview / Comments

The listing consists of two parcels, Charleston County TMS Nos. 286-00-00-601 and 286-00-00-040. Parcel -601 consists of 17.34-acres of contiguous high land. Parcel -040 consists of 37.94-acres of predominantly wetlands. Both were recently subdivided from the 55.28-acre parent tract. The 17.34-acre tract leaves an attractive upland rectangular corner for development at the intersection of Bees ferry Road and Bluewater Way. The parcel has great visibility and exposure along the heavily traveled Bees Ferry Rd. Approximately 17.34 upland acres adjacent to the entrance of Bolton's Landing neighborhood. Parcel -040 could potentially be used for walking trails/public amenity to compliment the development of parcel -601.

These parcels have the potential to be a great Retail-Mixed Use, Multi-family or Residential Development. The properties are currently zoned Industrial in Charleston County. Similar properties in the area have been rezoned for Retail-Mixed Use or Residential Development.

Municipal Sewer and Water are located along Bees Ferry Road. the USACE Jurisdictional Determination for the wetlands is attached. There are no wetlands on the 17.34-acre tract.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 12 - W.Ashley outside I-526 to Rantowles
Taxing Authority: Charleston County
Tax ID/APN: 286-00-00-601 and 286-00-00-040
Zoning: I - Industrial District
Property Located Between: Glenn McConnell Parkway and US Hwy 17
Property Visibility: Excellent
Feet of Frontage: 1,130
Traffic/Vehicle Count: 20,200
Site Description: The parcels are currently undeveloped and wooded. The pricing is based primarily on the 17.34 acre parcel. The entire portion of the 17.34-acre parcel is upland acreage and includes the hard corner of Bees Ferry Road and Bluewater Way at the entrance to the Boltons Landing neighborhood. The site is located on Bees Ferry Road midway between Glenn McConnell Parkway and US Hwy 17 (Savannah Highway).
Area Description: This area of West Ashley is undergoing rapid growth with apartments, single family residential homes, and retail. Existing residential developments in the area include Boltons Landing, Grand Oaks, Bees Ferry Apartments, Avenues at Verdier Pointe, The Pointe at Rhodes Crossing, Carolina Bay, and Hunt Club. In addition, Long Savannah Development is planned for the area and consists of approximately 4,000 additional homes. The site is located in close proximity to the West Ashley Town Center which includes Wal-Mart and the Publix Shopping Center at the corner of Main Road and US Hwy 17 (Savannah Highway). Roper-St. Francis Hospital is located approximately 3 miles from the property.
Lot Frontage: 1130
Lot Depth: 660
Easements: Electric Lines
Easements Description: Powerline right of way on the rear portion of the property (along the southeast property line).
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 24,419 70,987
Median Age: 37.16 36.03
Households: 10,163 30,008
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