343 King Street - High Quality Corporate Leased Retail Condo

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30799563
Property Subtypes: Street Retail
Status: Pending/Contingent
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: 11/1/2022

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

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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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