Flex Retail Warehouse

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30418387
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Status: Pending/Contingent
Condo? Yes
Building Size (RSF): 4,000 SF
Gross Building Area: See Agent
Sale Price: $310,000
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Cainhoy Plaza
Sale Terms: Cash to Seller
Cap Rate: 11.0%
Last Updated: 10/10/2019

Overview / Comments

Across from Nucor Steel. Consists of four 1000 sf units that are leased to two tenants with two units each.

This listing is for Units A, B, C, and D being purchased together yielding an 11% CAP rate.

Units C and D can be purchased separately for $170,000 (separate listing 30418537). Units C and D have a modified NNN lease yielding a 10% CAP rate. Lease is three years, with two three year options with 3% escalation each year.

Units A and B have 1 year remaining, not paying toward building costs. Tenant wants to remain long term.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 75 - Rural: Cross/St.Stephens/Bonneau
Tax ID/APN: 2480501001, 002, 003, 004
Is Condo?: Yes
Zoning: GC - General Commercial District
Retail Clientele: General, Business
Property Visibility: Excellent
Site Description: Cainhoy Plaza consists of 7 buildings, this offering is in front on Cainhoy Road.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2006
Roof Type: Flat
Parking Type: Surface
Heat Type: Electricity
Zoning Description: Commercial
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,994 2,994
Median Age: 38.12 38.12
Households: 1,107 1,107

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