North Charleston Opportunity Zone- Rivers Avenue Center for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30582284
Property Subtypes: Car Wash, Day Care Facility, Free-Standing Building, Mixed Use, Movie Theatre, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 40,686 SF
Gross Building Area: See Agent
Gross Land Area: 3.05 Acres
Sale Price: $4,800,000
Unit Price: $117.98 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Last Updated: 8/6/2020

Overview / Comments

This three acre site is located in the thriving area of North Charleston and in an Opportunity Zone. The Tenants have been long term and the property has a significant cash flow. The site is in close proximity to the former Charleston Naval Hospital which has recently been approved for the redevelopment of 305 apartments. The site is also close to the planned $5 million bus hub at the intersection of Rivers and McMillan Avenue and the Rapid Transit Line that will connect Summerville to Charleston. Excellent opportunity to own an investment with significant cash flow while planning for redevelopment or hold as is.

All property financials available upon completing a confidentilaty agreement.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Tax ID/APN: 4690800150
Zoning: B-2 (NORTH CHARLESTON)
Retail Clientele: General, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: Cosgrove Avenue and Interstate 26
Airports: Charleston International Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1952
Year Renovated: 2018
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Zoning Description: B-2 General Business District
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,019 37,343 136,729
Median Age: 33.56 36.18 34.19
Households: 3,456 14,386 55,305

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