3655 Rivers Avenue

Retail-Commercial for Sale
Catylist Listing ID: 30561420
Property Subtypes: Free-Standing Building, Vehicle Related
Building Size (RSF): 2,084 SF
Gross Building Area: See Agent
Gross Land Area: 0.54 Acres
Sale Price: $925,000
Unit Price: $443.86 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: 3655 Rivers Avenue
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2020

Overview / Comments

.54 acre property with 171' of frontage on Rivers Avenue in Shipwatch Square, feet from the Rivers and McMillan intersection. The property faces the former Charleston Naval Hospital which has recently been approved for the redevelopment of 305 apartments. The property is located in an Opportunity Zone and borders the planned $5 million bus hub at the intersection of Rivers and McMillan Avenue. The property is also along the Rapid Transit Line that will connect Summerville to Charleston.
Owner is currently operating a Car Audio retail shop in the 2,084 building on the property. The owner is willing to sell the business and all of his inventory for an additional cost.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Taxing Authority: City of North Charleston
Tax ID/APN: 469-06-00-103
Zoning: GB - General Business
Property Visibility: Excellent
Largest Nearby Street: Rivers Avenue
Traffic/Vehicle Count: 19,391
Area Description: Charleston County Council approved the sale of the Charleston Naval Hospital building to redevelop into apartments and a new social services building nearby. Additionally, plans are in the works to build a new bus rapid transit system along Rivers Avenue connecting downtown Charleston and Summerville, a project that is expected to spur building along the busy commercial corridor. The intersection of Rivers and McMillan was once a thriving commercial hub, and will now be reinvigorated through public private partnerships to redevelop the area, with the benefit of the Opportunity Zone designation. https://www.postandcourier.com/news/charleston-county-plan-to-redevelop-naval-hospital-site-takes-shape/article_f9cee03c-1b37-11e9-a5cd-9b5da0642f3a.html
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,084 SF
Year Built: 1955
Lot Frontage: 171
Lot Depth: 156.5
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,967 43,698 138,791
Median Age: 33.14 34.92 34.27
Households: 4,133 16,702 56,335

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