Live Work Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 30658926
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 1,842 SF
Gross Building Area: See Agent
Sale Price: $523,500
Unit Price: $284.20 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 10/23/2020

Overview / Comments

716 S. Shelmore Boulevard, Unit 103 & 203 presents a unique opportunity to own a high-grossing investment property in the vibrant and bustling Shelmore Village, conveniently located just minutes into Mt. Pleasant and across from I'on.

Generating a gross income of $38,700 annually (6 CAP), the unit is occupied by a long-term commercial tenant until June 2023 and a residential tenant until May 2021. Residential income has potential for increase, as tenant was given 15% discount for year rent paid in advance.

The immaculately maintained property boasts hard wood floors on the first floor of the residential unit, granite countertops and stainless steel appliances.

The commercial space, on the ground level, with ample parking has its own private entrance and restroom. Tenant has been in the space since 2013.

Current Tenants

Tenant Business Name Mobile R
Year Founded 2013
SF of Space Occupied 614 SF
Lease Expiration 5/2023
Escalations 3%
Options first right of refusal to renew
Tenant Notes Been in the space since 2013, very successful.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 42 - Mt.Pleasant South of IOP Connector
Tax ID/APN: 514-00-00-266
Tenancy: Multiple Tenants
Number of Stories: 3
Year Built: 2007
Part of Planned Development?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,494 47,015 97,033
Median Age: 41.76 40.51 37.63
Households: 5,014 20,777 41,190

Contact

Photograph of Listing Agent

Alex W Ramsay, Jr

Ramsay Management Group SCCMLS Member
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