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 |
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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