Price Reduced! 533 Rutledge Ave. Office & Apartment Building

Office for Sale
Also listed as Multi-Family
Catylist Listing ID: 30269487
Property Subtypes: Medical, Mixed Use, Office Building
Building Size (RSF): 4,615 SF
Sale Price: $1,249,000
Unit Price: $270.64 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class A
Usable Size (USF): 4,615 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/5/2019

Overview / Comments

BRING ALL OFFERS! SELLER SAYS SELL! Conveniently located, renovated office and apartment building with off-street parking. This property is on the corner of Rutledge Avenue and Fishburne Street and has great visibility.
Currently the building is utilized as two units: an office on the first floor and a 4 bedroom apartment on the second and third floors. The office is approximately 1,700 SF. It was previously used as two office units on the first floor and an apartment above; there are still three active electric meters. The parking lot accommodates 8 vehicles and is accessed from Fishburne Street. There is an additional side yard.
The building was renovated extensively in 2007 and again in 2016. It is in very good condition.
Apartment is leased beginning May 1st for $3,950. The first floor was owner occupied and is available for lease. It is available for $4,850 with 8 onsite parking spaces.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 52 - Peninsula Chas. outside of crosstown
Taxing Authority: Charleston County
Tax ID/APN: 460-07-02-238
Zoning: DR-1F - Diverse Residential (19.4 units per acre)
Property Located Between: Corner of Rutledge Avenue and Fishbure Street; One block from Crosstown (Septima Clark Parkway - Hwy 17)
Highway Access: One block form Highway 17
Airports: Charleston International
Site Description: Approximately .11 acres. Buyer to verify.
Area Description: Centrally located in Downtown Charleston. Convenient to all of Charleston MSA
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 1,700 SF
Year Built: 1900
Year Renovated: 2016
Roof Type: Gable
Construction/Siding: Wood Siding
Exterior Description: Wood siding with new metal roof in 2015. Metal has 40 year paint warranty and 25 year substrate warranty.
Parking Type: Surface
Parking Description: 8 off-street parking spaces. Residential tenants may obtain additional street parking decals.
Total Parking Spaces: 8
Sprinklers: None
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: First Floor Office: extensively renovated in 2016. Heart pine floors, glass walls, high-end kitchenette and appliances, floor to ceiling custom cabinets, crown moldings, high ceilings, custom light fixtures, and quality finishes. Second and Third Floor Spacious 3 or 4 Bedroom / 2 1/2 Bath Apartment: Heart pine and tile floors, crown moldings, high ceilings, custom fixtures, wet bar, full kitchen with island, gas range, custom cabinet, some original interior doors, private deck, tank-less water heaters, laundry room, master suite with iron claw tub, double vanities, and walk-in closets.
Zoning Description: DR-1F; buyer to verify.
Lot Frontage: Approx. 35' Rutledge & 130' Fishburne
Lot Depth: Approx 130'
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lot 12

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,132 58,416 139,277
Median Age: 27.31 34.33 36.14
Households: 9,010 24,794 58,059


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