Rivers Flex Sale - Partial Owner Occupant
|Catylist Listing ID:
Flex Space, Free-Standing, Industrial-Business Park, Light Industrial, Net Leased, Warehouse/Distribution
|Building Size (RSF):
|Gross Building Area:
||16 ft. Clear
|Property Use Type:
||Net Leased Investment (NNN), Vacant/Owner-User
||Cash to Seller
Overview / Comments
4221 Rivers Avenue is an 18,492 SF 100% leased, mixed-use asset located near North Charleston’s thriving Park Circle sub-market. The property consists of four suites, two of which are creative office suites, leased to an IT Company and a national defense contractor and two warehouse/flex suites. Tenant occupying 7,611 Square Feet wants to vacate early and could provide opportunity for owner-user.
The property was completely renovated in 2018 and included over $400,000 in base building renovations in 2018. Work included roof, painting, parking lot, HVAC, electrical and demising work. An additional $300,000 was spent in 2018 on new tenant improvements, converting two of the four flex units into creative office suites and refurbishing the two existing warehouse/flex suites.
4221 Rivers Avenue Offers Investors on Opportunity to acquire a stabilized property in the heart of North Charleston’s faster growing sub-market, Park Circle, well below replacement cost. Additionally, 4221 Rivers provides Investors a value-add opportunity as all in-place rents are under market. Further, value-add opportunity could exist by renovating one or both of the warehouse/flex suites into office space. Utilizing
the loading areas would increase parking to more than 3.0/1,000.
Attachments & Media
||31 - N.Charleston Area inside I-526
||B-2 (NORTH CHARLESTON)
|Total Number of Buildings:
|Number of Stories:
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