Convenience Store in Old North Charleston across from former Navy Base

Retail-Commercial for Sale
Catylist Listing ID: 30524822
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Other
Building Size (RSF): 2,310 SF
Gross Land Area: 0.11 SF
Sale Price: $750,000
Unit Price: $324.68 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: B&M Family Grocery
Usable Size (USF): 2,310 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 7/15/2020

Overview / Comments

This an opportunity to acquire a proven income-generator in an established area in North Charleston near Park Circle. This location is positioned perfectly in an area that is currently being revitalized. The road frontage provides optimal exposure to Spruill Ave and Reynolds Ave as it sits right on the corner across from the old Navy Base. It offers prominent exposure to passing traffic. This is definitely a high traffic location.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Taxing Authority: Charleston County
Tax ID/APN: 469-08-00-002
Retail Clientele: General, Business, Other
Property Located Between: Corner of Reynolds and Spruill Ave
Property Visibility: Excellent
Largest Nearby Street: Spruill Ave
Feet of Frontage: 400
Highway Access: Access from Reynolds Ave
Airports: Charleston International Airport
Site Description: This is a convenience store located near Park Circle and the old Navy Base. This property has parking on site. It sits on the corner of Spruill and Reynolds Ave with high visibility to high traffic passing by this building every day. It is on the revitalization area that is up and coming.
Area Description: This area of North Charleston is a highly sought after area for revitalization. This area is transforming every day. It is located across the street from the Former Navy Base of Charleston.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,310 SF
Property Condition: Good
Year Built: 1974
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Block
Exterior Description: This is a building that is made of concrete cinder block with a flat roof. It has been freshly painted on the exterior. It has a parking lot in the front of the building that can accommodate up to 10 or more vehicles.
Parking Type: Surface
Parking Description: Asphalt top parking.
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Satellite
Interior Description: The interior is being used as a convenience type neighborhood mini grocery store. It has shelves and coolers with a store front containing the counter and register.
Zoning Description: B-2 General Business
Lot Frontage: 400
Lot Depth: 1100
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: normal utility easements
Land Ownership: owned
Legal Description: Lt N

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,340 38,927 132,865
Median Age: 32.79 35.52 34.33
Households: 2,477 14,729 53,658


Photograph of Listing Agent

Tracy R Hatchell

RE/MAX Coast & Island SCCMLS Member
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