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.
Zoning Description: B-2 (GENERAL BUSINESS DISTRICT)
Lot Frontage: 130 feet
Lot Depth: 225 feet
Water Service: Municipal
Sewer Type: Municipal
Easements: Environmental, Other
Easements Description: N/A

View FullscreenMap

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

Contact

© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither South Carolina Statewide Commercial MLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.