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
-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.

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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


Photograph of Listing Agent

Tony S Diesu

CKC Realty, LLC SCCMLS Member
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