Catylist ID: #30643592
I'On Commercial Square
Retail-Commercial for Sale
|Catylist Listing ID:||30643592|
|Property Subtypes:||Free-Standing Building, Mixed Use, Street Retail, Vehicle Related|
|Building Size (RSF):||1,200 SF|
|Gross Building Area:||See Agent|
|Property Use Type:||Net Leased Investment (NNN), Investment|
|Usable Size (USF):||1,063 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
The most prominent window-line retail space with store front on the Commercial Square in I'ON. Very fresh and clean suite with very high visibility.
Makes for a nice smaller investment property acquisition with only having to manage one tenant and being the most dramatic retail space on the Square.
Master Deed regime space calculation is 1,063.45 square feet, The suite is leased as 1,200 rentable square feet.
The space is currently leased to one tenant with a lease term expiring January 7, 2022. The 2020 annual rent is $25,647. The 2021 annual rent is $26,416. There is a Landlord rental credit for TI allowance equal to $100. per month expiring at end of the initial lease term. Rent is triple net and tenant is responsible for Tenant has a 3 year renewal option by giving Landlord 90 days prior written notice of its intent to renew its lease. The lease has 3% annual escalations during its renewal period.
New roof was installed on the building during Q2 2020.
Property is part of the I'ON Commercial Square Association, Inc.
|Nearest MSA:||Charleston-North Charleston|
|Submarket/Township:||42 - Mt.Pleasant South of IOP Connector|
|Retail Clientele:||General, Family, Business, Traveler, Recreation|
|Total Number of Buildings:||1|
|Part of Planned Development?:||Yes|
|Proximity:||1 mile||3 miles||5 miles|
Jim D RobertsonStrategic Real Estate Advisors SCCMLS Member
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