Property For Sale is the North CHarleston Revitalization Area

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30672661
Property Subtypes: Medical, Mixed Use, Flex Space, Office Building, Other
Status: Pending/Contingent
Building Size (RSF): 1,440 SF
Gross Land Area: 0.21 SF
Sale Price: $299,900
Unit Price: $208.26 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class A
Usable Size (USF): 1,440 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 1/14/2021

Overview / Comments

This is a great opportunity to purchase a property in the up and coming revitilaztion area in the south side of North Charleston near the old Navy Base. This is an area that is truly breathing new life. This side of Cosgrove Avenue is right across the street from the front side of the Old Navy Base where many business are located. Oportunity Zones offer federal tax reductions for taxpayers who invest unrealized capital gains into specialized “Opportunity Funds” which then make an investment in designated “Opportunity Zones.” This buiding has a new roof but is primarily a shell for you to do your own build out. The walls are cinder block and have been painted on the inside. This property need new flooring. It is on a slab. Lots of room in the front of the property for you to pave for parking. This property was a preschool at one time. Lots of great business are coming in this area. A grocery store is projected to go up down the street from Cosgrove on Rivers Ave in the near future. This would be a great building for an attorney's office, barber shop, beauty salon, medical office, etc.

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Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Taxing Authority: City of North Charleston
Tax ID/APN: 469-08-00-260
Zoning: B-1 (NORTH CHARLESTON)
Property Located Between: Rivers Ave and Spruill Ave
Property Visibility: Excellent
Highway Access: Hwy 52 (Rivers Ave) ontro Cosgrove
Airports: Charleston International
Area Description: This is the Opportunity Zone in the Noisette Redevelopment area near the Old Navy Base
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1971
Roof Type: Other
Construction/Siding: Concrete
Exterior Description: This is a cinder block building shell with a new pitch roof.
Parking Type: Other
Parking Description: Parking is dirt. City will determine how many parking spaces you can have however I can estimate 7- 10 or more. Building sits far against the back property line giving you a great deal of parking area.
Sprinklers: Other, None
Internet Access: Cable
Interior Description: Vacant empty shell waiting on a great buildout.
Zoning Description: Section 5-3.1. - B-1, Limited business district: It is the intent of the B-1 zoning district to encourage the formation and continuance of a quiet and uncongested environment for compatible professional business offices together with certain residential and neighborhood commercial uses which will not adversely affect adjacent residential areas. (a) Permitted uses: The following uses shall be permitted in the B-1 zoning district: 1. All uses permitted in the office district (OD) and the single-family residential zoning district (R-1). 2. Establishments providing certain convenience items and services to the public such as: a. Barber shops, beauty shops, nail shops and tanning salons; b. Flower shops, card shops, gift shops, video stores, tobacco shops, bait/tackle shops, news-stands and magazine stands; c. Laundromats and dry cleaning pickup stations; d. Telephone stores, cable TV service stores, internet cafés; e. Fast food restaurants, ice cream shops, cafés, delicatessens; f. Grocery stores, convenience stores, pharmacies, health food stores, confectioneries, bakeries, pretzel or cookie shops, where products are sold predominantly at retail; g. Clothing/shoe stores. 3. Establishments of a business character providing services of a specialized nature to individual or other businesses, such as: a. Copying/printing services; b. Post offices, mailing/delivery services; c. Film development establishments. 4. Social, cultural and health facilities, including: a. Public and private kindergarten, elementary or secondary schools; b. Adult and child daycare; c. Specialized training schools such as martial arts, yoga, and dance studios; d. Libraries and museums; e. Health clubs and fitness centers; f. Cemeteries; g. Places of worship; h. Public recreational facilities; i. Hospitals and medical clinics; j. Professional, civic, and cultural associations/organizations. 5. Video game retail stores and arcades. (b) Conditional uses: The following uses shall be permitted on a conditional basis in any B-1 zoning district, subject to the stated conditions: 1. Administrative offices of construction firms provided that no trucks, heavy commercial vehicles, equipment, or materials are stored on-site. 2. All conditional uses permitted in the R-1 zoning district subject to the conditions stated therein. 3. Full service restaurants provided that: (a) the establishment does not operate during hours when meals are not being served, (b) does not feature dance floors or live entertainment; (c) does not offer catered events; (d) the sale of food accounts for in excess of fifty (50) per cent of the restaurants gross revenues; and (e) that, if alcohol is served, the restaurant is located not closer than five hundred (500) feet from a residentially zoned property or property dedicated to residential use. For purposes of this subsection, measurements shall be made in a straight line, without regard to intervening structures or objects, from the nearest portion of the building or structure used as a part of the premises where the restaurant is operated, to the nearest property line of the residentially zoned property or property dedicated to residential use. Furthermore, conditional uses established pursuant to the setback distances described herein shall not be rendered nonconforming by the location subsequent to the grant or renewal of the conditional use, of a residentially zoned parcel or parcel dedicated to residential use within the required setback distance. (Ord. No. 1990-34, 6-28-90; Ord. No. 1991-16, 5-9-91; Ord. No. 1995-5, 3-7-95; Ord. No. 2002-003, 1-10-02; Ord. No. 2002-087, 11-26-02; Ord. No. 2003-016, 2-27-03; Ord. No. 2009-49, 9-24-09)
Lot Frontage: 75'
Lot Depth: 120'
Water Service: Municipal
Sewer Type: Municipal
Legal Description: ALL those certain lots, pieces, or parcels of land, together with the buildings and improvements thereon, situate, lying and being in the County of Charleston, State of South Carolina, and known as Lots No. 246,247 and 248 on a plan or plat of property of Cherokee Place, Inc. made by G. M. Howe, Surveyor, dated August 4, 1914, and recorded in the Office of the RMC for Charleston County in Plat Book C, at Page 92. MEASURING AND CONTAINING as a whole Seventy-Five (75') feet frontage on Cosgrove Avenue, same on the rear line, and in depth One Hundred Twenty (120') feet, be the same dimensions more or less. BUTTING AND BOUNDING approximately North on Apache Street on said plat; approximately East on Lot No. 245 on said plat; and approximately West on Lot No. 249 on said plat, all of which by reference to said plat will more fully appear. BEING the same property conveyed to Mase & Company, LLC by deed of The Peregrine Group, LLC, said deed being dated December 12, 2017 and recorded December 14, 2017 in the RMC Office for Charleston County in Book 0686, Page 151. TMS No.: 469-08-00-260

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,890 43,698 137,558
Median Age: 33.69 34.92 34.3
Households: 4,145 16,702 55,782

Contact

Photograph of Listing Agent

Tracy R Hatchell

RE/MAX Coast & Island SCCMLS Member
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