Meeting Street Restaurant Lease Assignment & Asset Purchase

Retail-Commercial for Lease
Also listed as Shopping Center, Office
Catylist Listing ID: 30200146
Property Subtypes: Convenience Store, Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub
Contiguous Space: 1,782 SF
Gross Building Area: See Agent
Lease Rate: $31.56 PSF (Annual)
Base Monthly Rent: $4,686
Lease Types: NNN
Last Updated: 11/14/2018

Overview / Comments

Lease Assignment & Asset Purchase for $400,000. No real estate to convey. The space is located on the corner of Meeting & Wentworth currently occupied by Jestine's Kitchen, and Tenant is relocating. Zoned General Business.

Asking price includes the assumption of the current under-market lease which expires December 31, 2021 with 1 additional option of 5 years at market rent. Year 1 NNN is estimated to be $10.74 psf.

All existing FF&E conveys to Buyer (The following items are excluded: Tenant's trade name, menu, all decorations, 1 large table, & 1 antique refrigerator).

The assignment & assumption of the lease is subject to Landlord approval.

See the attached flyer, floor plan, & elevations.

Expand All Available Space

Suite: 1st Floor 1,782 SF $31.56 PSF (Annual) NNN
Space Available: 1,782 SF
Lease Rate: $31.56 PSF (Annual)
$4,686 (Monthly)
Lease Type: NNN
Date Available: 1/25/2018
Space Type: Relet

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 457-04-04-136
Property Visibility: Excellent
Property Condition: Excellent
Year Built: 1900

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,149 56,354 133,527
Median Age: 29.3 34.51 36.75
Households: 6,926 23,532 56,626
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