Folly Beach Commercial Lot

Expired Vacant Land for Sale
Catylist Listing ID: 30631880
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Vacation/Resort
Status: Pending/Contingent
Gross Land Area: 0.24 Acres
Sale Price: $1,250,000
Unit Price: $5,208,333 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/24/2020

Overview / Comments

Vacant street to street lot Zoned Commercial on Folly Beach with water and sewer service available. This lot has approved plans to build (3) residential short term rental units and (1) shared swimming pool. (2) Buildings (Units A & C) have 5 Bedrooms and 5.5 Baths each and can accommodate 20 guests in beds. Unit B is a (2) Bedroom unit. The compound is set up to accommodate up to 44 people in total. Projected annual gross rental income of $300,000 once built out. Full set of approved plans avail upon request. Lot is located just off Center Street in the heart of everything on Folly. Excellent Investment oppty, not many left, if any, like this one.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 22 - Folly Beach Area to Battery Island
Tax ID/APN: 328-10-00-019
Zoning: CC - Community Commercial District
Property Visibility: Excellent
Largest Nearby Street: Center Street
Soil Type: Sandy
Available Utilities: Electric, Water, Gas, Sewer, Cable, Broadband
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,210 18,296
Median Age: 40.23 39.01
Households: 4,390 8,133


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