Downtown Hotel Site with Conceptual BZA Approval

Hospitality for Sale
Also listed as Vacant Land
Catylist Listing ID: 30701562
Property Subtypes: Hotel, Other
Building Status: Proposed
Number of Units: 50 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 0.14 - 0.70 Acres
Sale Price: $7,400,000
Unit Price: $148,000 Per Unit
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/18/2021

Overview / Comments

Birchin Lane Realty Advisors is pleased to present this potential hotel site in historic Downtown Charleston, South Carolina. The parcel is at the highly visible corner of Cumberland and State Streets, just steps away from the famed City Market. The site is zoned General Business in the Accommodations Overlay and has a conceptual zoning (BZA) approval for a 50-key hotel with ground floor restaurant and event space. The sale of this parcel would include a vehicle access easement over the adjacent parcel with frontage on Linguard Street. All parking requirements have been met with long term leases in a nearby Charleston County-owned parking garage at the corner of Church and Cumberland Streets.

While being sold “stand alone”, this parcel is part of an overall property assemblage that is also for sale in it’s entirety. See Catylist #30701567 for more information on the assemblage.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 458-05-03-089
Zoning: GB - General Business
Property Visibility: Excellent
Site Description: Fantastic potential hotel site in Downtown Charleston with frontage on Church Street, Cumberland Street and Linguard Street.
Year Built: 1972
Part of Planned Development?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,690 60,756 132,467
Median Age: 30 34.56 36.68
Households: 6,759 25,333 56,316
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