Huger Street

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30769762
Property Subtypes: Multi-Family, Office, Retail, Retail-Pad
Status: Pending/Contingent
Gross Land Area: 2.50 Acres
Sale Price: $25,000,000
Unit Price: $10,000,000 Per Acre
In Opportunity Zone? Yes
Sale Terms: Undisclosed
Up For Auction: Yes
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 7/18/2022

Overview / Comments

Huger Street and Morrison Drive redevelopment opportunity. This project consists of approximately 2.5 acres of land located in the heart of the NoMo district. The property is zoned UP (Upper Peninsula) and located in an Opportunity Zone. UP zoning is the city of Charleston’s most favorable zoning classification, allowing for retail, apartment and office use.

The central site location allows easy access to King Street and Charleston’s historic district, as well as North Charleston, the airport, Mt. Pleasant, and James Island due to its proximity to Hwy 17 and I-26.

Property being sold in "As-Is" condition!

Call for Offers due November 19, 2021!

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 52 - Peninsula Chas. outside of crosstown
Tax ID/APN: 4590104011
Zoning: OTHER
Property Located Between: Morrison Drive, Huger Street & Stuart Street
Property Visibility: Excellent
Legal Description: 459-01-04-025 459-01-04-026 459-01-04-010 459-01-04-009 459-01-04-008 459-01-04-007 459-01-04-011
Largest Nearby Street: Morrison Drive
Feet of Frontage: 265
Traffic/Vehicle Count: 16,100
Highway Access: Easy access to Hwy 17 and Interstate I-26
Airports: Charleston International Airport
Site Description: The properties are owned by two separate entities. Waterfront Employers ILA Pension and Welfare Fund owns approximately 1.5 AC, including TMS #s: 459-01-04-025, 459-01-04-026 & 459-01-04-010, and International Longshoremen’s Association Local 1422-A owns ±0.92 AC, including TMS #s: 459-01-04-008, 459-01-04-009, & 459-01-04-007, together, “Owners.” The parties have agreed to market the properties together, but their members and boards will need to approve the sale and each parcel will be sold and conveyed separately.
Area Description: Gateway to NoMo District Flexible Upper Peninsula (UP) Zoning Mixed-Use Opportunity Located in an Opportunity Zone ±2.5 AC / ±108,900 SF *Existing ±10,904 SF building with no economic value on property Hwy 17 interstate visibility with easy access to Mt. Pleasant and less than a mile from I-26 with access to North Charleston and the airport Minutes from King Street, Charleston’s central business district and major tourist attractions Huger Street streetscape project is in its final approval phase and will include bike lanes, sidewalks, and landscaping
Zoning Description: UP - Upper Peninsula
In Flood Plain?: Yes
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,727 57,485 134,478
Median Age: 31.51 33.46 36.34
Households: 6,641 24,082 56,205

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