Catylist ID:
#30663701
St. Philip Street Office Space
Office
for Sale
Also listed as Vacant Land
| Catylist Listing ID: | 30663701 |
| Property Subtypes: | Executive Suites, Coworking, Governmental, High-Tech, Medical, Flex Space, Office Building, Research & Development, Other |
| Building Status: | Proposed |
| Building Size (RSF): | 3,584 SF |
| Gross Land Area: | 3,521 SF |
| Sale Price: | $1,200,000 - 2,500,000 |
| Unit Price: | $334.82 - 697.54 PSF |
| Property Use Type: | Net Leased Investment (NNN) |
| Class of Space: | Class A |
| Usable Size (USF): | 3,584 SF |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage, Build-to-Suit |
| Cap Rate: | 7.25% |
| Last Updated: | 11/16/2020 |
Overview / Comments
|
This new 2 ½ story office building will be in the heart of downtown Charleston’s most bustling business district. Adjacent to the College of Charleston and located in the desirable Harleston Village neighborhood, The Saint Philip Office Suites provide a rare opportunity for a newly constructed office environment designed to provide a healthy and agile workspace. Paying homage to the historic fabric of this property, a portion of the original façade has been preserved to create a unique entry and an open-air meeting space for the occupants to enjoy. Abundant use of glass will provide vast amounts of natural lighting to the interior spaces. Operable windows in selected locations will enable occupants to enjoy the breeze and experience natural ventilation. This agile workplace was strategically designed for a business operating in a post pandemic world. Features include: -An open-air meeting space, -Mechanical systems designed to incorporate HEPA- filtration and rapid air exchanges. -Operable windows for natural ventilation. -Limited use of shared public spaces. The owner has obtained BAR conceptual approval for this office space concept and is awaiting a creditworthy tenant to finish the design in a build to suit manner. The land with entitlements is being offered at $1.2 Million. The land with the completed built-to-suit office space is offered at $2.5 Million. This built-to-suit price is estimated based on a finished scope of work to be determined during the design process. |
Additional Details
| Nearest MSA: | Charleston-North Charleston |
| County: | Charleston |
| Submarket/Township: | 51 - Peninsula Chas. inside of crosstown |
| Tax ID/APN: | 457-040-3112 |
| Zoning: | DR-2F - Diverse Residential (26.4 units per acre) |
| Year Built: | 2020 |
| Construction/Siding: | Wood Frame |
| Exterior Description: | Thoughtful preservation of the historic ruin at 11 ½ St. Phillip Street will form the identity of this unique building. A steel frame will stabilize and join the historic remains to the new structure. |
| Zoning Description: | DR-2F - The owner has obtained a zoning variance for parking requirements and for office use on the site. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 20,274 | 60,630 | 135,573 |
| Median Age: | 28.79 | 34.43 | 36.71 |
| Households: | 8,582 | 25,640 | 56,797 |
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