Development Opportunity on Savannah Highway @ Carolina Bay 6.68 acres

Vacant Land for Sale
Catylist Listing ID: 30138432
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Other
Gross Land Area: 6.68 Acres
Sale Price: $3,974,600
Unit Price: $595,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/21/2018

Overview / Comments

This offering is for the entire southern portion of the "saddle" on Marginal Road at the entrance to Carolina Bay. Located at a 4-way Lighted Intersection! Approximately 6.68 acres fronting one of Charleston's main thoroughfares. (33,200 VPD)

**Chas. Co. Future Land Use for the parcel is Urban/Suburban Mixed-Use
Municipal Sewer & Water (see attached)
Wetland Delineation & USACE verification has been completed
*approximately 0.95 acres of non-jurisdictional isolated wetlands (see attached)

Potential to be an excellent Retail-Mixed Use site.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 11 - W.Ashley inside I-526 to Ashley River
Tax ID/APN: 307-05-00-015
Zoning: R-4 - Single Family Residential 4 District
Property Visibility: Excellent
Largest Nearby Street: US-Hwy. 17 (Savannah Highway)
Feet of Frontage: 735
Traffic/Vehicle Count: 33,200
Site Description: The unique 6.68 +/- acre "out-parcel" to Carolina Bay is currently undeveloped and wooded. Located at a high-traffic lighted intersection. Stand-alone site shaped like a saddle with Marginal Road and Carolina Bay Drive providing ingress/egress options for a developer.
Area Description: This area of West Ashley is undergoing rapid growth with apartments, single family residential homes, and retail. Existing residential developments in the area include Boltons Landing, Grand Oaks, Bees Ferry Apartments, Avenues at Verdier Pointe, The Pointe at Rhodes Crossing, Carolina Bay, and Hunt Club. In addition, Long Savannah Development is planned for the area and consists of approximately 4,000 additional homes. The site is located in close proximity to the West Ashley Town Center which includes Wal-Mart and the Publix Shopping Center at the corner of Main Road and US Hwy 17 (Savannah Highway). Just minutes from Main Road which leads to Johns Island.
Lot Frontage: 735
Lot Depth: 585
Zoning Description: Chas. Co. Current Zoning - R4 Residential **Chas. Co Future Land Use - Urban/Suburban Mixed-Use
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,129 26,340 82,707
Median Age: 32.81 37.13 36.82
Households: 1,877 12,132 34,998
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