Development Opportunity on Savannah Hwy @ Carolina Bay

Vacant Land for Sale
Catylist Listing ID: 30138437
Property Subtypes: Office, Residential (Single Family), Retail, Retail-Pad, Other
Gross Land Area: 1.87 Acres
Sale Price: $925,000
Unit Price: $494,652 Per Acre
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/22/2018

Overview / Comments

The "saddle" @ the entrance to Carolina Bay on Marginal Rd. which runs parallel to US-Hwy. 17-South and is a 4-way Lighted Intersection....Approximately 1.87 upland acres of the northern portion of the "saddle." This property boasts excellent visibility and exposure in a very high traffic area. (32,200 VPD)

Wetland Delineation & USACE verification in hand
Municipal Sewer & Water (see attached)
**Charleston Co. Future Land Use - Urban/Suburban Mixed-Use**

Potential to be a great development site for Retail-Mixed Use.

Lots of development in the immediate area. The property is surrounded by both residential and commercial development.

Acquisition of the adjacent parcel to obtain the entire portion of the "saddle" is a possibility. Please contact one of the listing agents to discuss further.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 11 - W.Ashley inside I-526 to Ashley River
Tax ID/APN: 307-10-00-074
Zoning: R-4 - Single Family Residential 4 District
Property Visibility: Excellent
Largest Nearby Street: US-Hwy. 17 (Savannah Highway)
Feet of Frontage: 130
Traffic/Vehicle Count: 33,200
Site Description: This 1.87 acre parcel is confirmed upland acreage and is currently undeveloped and wooded. Marginal Road and Carolina Bay Drive encompass the property providing two potential ingress/egress options for a developer. Located at a 4-way Lighted Intersection. Charleston County Future Land Use is Urban/Suburban Mixed-Use.
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).
Lot Frontage: 130
Lot Depth: 580
Zoning Description: Current Chas. Co. Zoning is R4- SF Residential **Chas. Co. Future Land Use for the property is - 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 27,620 83,382
Median Age: 32.81 36.96 36.86
Households: 1,877 12,790 35,277
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