Restaurant Space on James Island!

Special Purpose for Sale
Catylist Listing ID: 30388668
Building Size (RSF): 2,135 SF
Sale Price: $925,000
Property Use Type: Business
Sale Terms: Other
Cap Rate: 1.0%
Last Updated: 6/11/2019

Overview / Comments

Perfectly located on James Island, it's difficult to find this much immediate traffic at a location for commercial property. This is an incredible opportunity with 90+ feet of road frontage on Folly Road. Currently Gillie's Soul Food, this is actually a turn key opportunity with a lease in place until September 2019 at which point it may be renewed should the new owner and tenant wish to continue moving forward together. The current tenant rate is $4000/month rent. The tenant covers taxes and insurance on top of the monthly rent. The .21 acre lot sees approximately 4,500 vehicles passing by everyday, and the James Island owned parking lot in the rear provides first come, first serve extra parking. The outdoor deck is perfect for entertaining but could be converted into a larger front parking lot if needed.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 21 - James Island
Taxing Authority: Charleston County
Tax ID/APN: 425-02-00-163
Zoning: OTHER
Property Located Between: Santee St and Eugene Gibbs St
Property Visibility: Good
Largest Nearby Street: Folly Road
Feet of Frontage: 90
Traffic/Vehicle Count: 4,500
Highway Access: James Island Connector
Airports: Charleston International; Charleston Executive
Site Description: Approx 2100 sq ft retail space with paved parking lot
Area Description: Commercial area with restaurants and shops and main thoroughfare
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Year Built: 1965
Roof Type: Flat
Exterior Description: Single-story structure with large deck in the front on the parking lot
Parking Type: Surface
Parking Description: Paved parking lot in the front. James Island owned parking lot in the rear provides first come, first serve extra parking.
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: Large room with tile flooring and drop ceiling. Large bar area with seating and space for multiple dining tables and booths.
Zoning Description: General Commercial
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Pt Lts 50 & 51 Sec D

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,899 38,917 104,624
Median Age: 34.57 38.06 35.96
Households: 2,646 17,578 45,420

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