Opportunity Zone Building w/ Potential 9% Cap Rate

Retail-Commercial for Sale
Catylist Listing ID: 30448764
Property Subtypes: Convenience Store, Free-Standing Building, Vehicle Related
Building Size (RSF): 6,000 SF
Gross Land Area: 0.71 Acres
Sale Price: $1,150,000
Unit Price: $191.67 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 6,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/15/2019

Overview / Comments

Prime space in an Opportunity Zone on the corner of N Gum St and Hwy 78/E 5th North St in the middle of Summerville. Highly visible and located between N Main St/Hwy 17A and the Berlin G Myers Pkwy. Ideal for automotive shop, automobile repair, tire store, car stereo business, retail business, office, car lot or could be converted to bar and/or restaurant or granite shop along with any business requiring a large amount of outdoor space for customer parking or displays. The building's current setup has 1400 sf of showroom space, private office and approximately 4600 sf for 5 automobile bays, storage and reception area. The building is in great shape and roof was redone in 2018. The property is zoned B-3 General Business in the town of Summerville. A portion of the building is currently on a month to month lease and can be vacant with 30 day notice. Leasing at $9,000/month would give an investor/owner a 9.3% cap rate. Building is also available for lease.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 63 - Summerville/Ridgeville Area
Taxing Authority: Dorchester
Tax ID/APN: 137-04-03-005
Retail Clientele: General, Business, Recreation
Property Located Between: Main St and Berlin G Myers Parkway
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1975
Roof Type: Flat
Construction/Siding: Concrete
Parking Type: Surface
Zoning Description: B-3 General Business

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,572 47,581 122,131
Median Age: 39.56 36.43 34.83
Households: 2,215 17,877 45,261

Contact

Photograph of Listing Agent

Sherri E Seymour

The Boulevard Company, LLC SCCMLS Member
843-619-7816 [Office] 843-303-3495 [Mobile] Contact me about this Listing
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