343 King Street - High Quality Corporate Leased Retail Condo
Retail-Commercial
for Sale
| Catylist Listing ID: |
30799563 |
| Property Subtypes: |
Street Retail
|
| Building Size (RSF): |
3,000 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$2,595,000 |
| Unit Price: |
$865 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.05% |
| Last Updated: |
7/3/2022 |
Overview / Comments
This is a Seven (7) year corporate lease, featuring Three Percent (3%) annual rent escalations, with Earthbound Holding, LLC. Fully Remodeled and opened in June 2021. Earthbound has corporate 132 stores opened with 141 scheduled to be opened by the end of 2022. Current year rent is $166,860.00. Average rent over the remaining lease Term is $179,886.46. Lease is modified net format with Landlord paying Property Taxes and Insurance (Tenant pays any increases in Insurance).
This is a ground floor retail condo meaning extremely low levels of management involved and no residential or office space to lease and/or manage. Excellent location and storefront width with tall storefront glass in a very high foot traffic block of King Street. An excellent investment.
|
Additional Details
| Nearest MSA: |
Charleston-North Charleston |
| County: |
Charleston |
| Submarket/Township: |
51 - Peninsula Chas. inside of crosstown |
| Tax ID/APN: |
4570402113 |
| Year Built: |
2021 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
20,778 |
59,314 |
136,746 |
| Median Age: |
29.11 |
34.57 |
36.7 |
| Households: |
8,778 |
25,064 |
57,137 |
|
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