Highly Visible Restaurant Property on Rivers Ave

Retail-Commercial for Sale
Catylist Listing ID: 30575496
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 2,400 SF
Gross Land Area: 0.96 SF
Sale Price: $1,100,000
Unit Price: $458.33 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Nick's Gyros & Phillys
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 10/3/2022

Overview / Comments

Free standing building 2,400 square feet on .96 acres. Masonry construction with Hood system, grease trap, walk-in cooler/freezer, Men's and Women's ADA compatible restrooms. 41+ parking spaces on busy Rivers Ave.

DIRECTIONS: From I-26 W, take exit 212C to merge onto I-526 toward Mt.Pleasant 0.9mi, Take exit 18B to merge onto U.S. 52/US-78W/Rivers Ave it is on the right about 1.5 miles

Current Tenants

Tenant Business Name Nick's Gyros & Phillys
Is Renting? Yes
Current Rent $3,826 PSF (Annual)
Lease Expiration 12/2024
Escalations 3%
Options Two, five year options to review w/ 180 days notice to Landlord

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Taxing Authority: Charleston County
Tax ID/APN: 4751600019
Zoning: GB - General Business
Retail Clientele: General, Business
Property Located Between: Spaulding Dr. & Hawthorne Dr.
Property Visibility: Excellent
Largest Nearby Street: Aviation Ave
Feet of Frontage: 130
Highway Access: Conveniently located near the on ramp to I-26
Airports: Less than 5 minutes to the Airport
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,400 SF
Property Condition: Good
Year Built: 1981
Year Renovated: 2014
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 41
Parking Type: Structure
Parking Description: Plenty of surface parking on both side of the building
Sprinklers: Other
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Full-service restaurant.
Lot Frontage: 130 feet
Lot Depth: 225 feet
Water Service: Municipal
Sewer Type: Municipal
Easements: Environmental, Other
Easements Description: N/A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,854 53,598 128,609
Median Age: 32.93 31.74 32.83
Households: 3,241 21,226 48,790


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