Rare Mt. Pleasant 8.5 Acre Redevelopment Site

Vacant Land for Sale
Catylist Listing ID: 30136174
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Vacation/Resort, Other
Gross Land Area: 8.47 Acres
Sale Price: $10,950,000
Unit Price: $1,292,798 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 2/7/2018

Overview / Comments

This centrally located 8.474 acre site is a rare redevelopment opportunity in Mt. Pleasant. It is adjacent The Home Depot site (old Laing Middle School) at the signalized intersection of Highway 17 and Six Mile Road.

Mt. Pleasant is among the fastest growing communities in the United States. The site is geographically and demographically in the center of town, with 40% of the population now living in north Mount Pleasant. Highway 17 is the main thoroughfare connecting Mt. Pleasant with the City of Charleston. Nearly 40,000 cars pass by this site each day. The town’s median household income is more than twice the state’s and nearly double the US median.

The property is zoned AB-2 allowing high impact commercial uses. Survey, Phase I environmental assessment, and wetlands study completed and available. This is a unique development opportunity with existing buildings and infrastructure in place.

The material herein is provided for the purpose of considering the purchase of the real estate and is not intended to be used for any other purposes; It does not intend to be inclusive or authoritative. The information in this offering has been compiled by the broker from sources considered reliable, but it is not intended to be used without a purchaser’s independent verification. Potential buyers should review all available information and make their own conclusions. All size, dimensions, and area calculations should be considered approximate and should be verified by purchasers. Neither the broker, nor brokerage company, nor owner, nor any of their respective officers, agents or employees, have made any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein, or any additional information provided. This offering is subject to errors, omissions, changes or withdrawal without notice. The owner reserves the right, at its sole discretion, to reject any or all offers.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 41 - Mt.Pleasant North of IOP Connector
Taxing Authority: Charleston County
Tax ID/APN: 558-00-00-146 and 558-00-00-927
Zoning: OTHER
Property Located Between: Laing Middle School and Christ Church
Property Visibility: Excellent
Legal Description: Identified on the subdivision plat of Lot 21 into Lots 1 and 2, a total of 8.474 acres
Largest Nearby Street: Highway 17 and Six Mile Road
Feet of Frontage: 296
Traffic/Vehicle Count: 36,200
Highway Access: US Highway 17
Airports: Charleston International is 16 miles away
Site Description: Listing includes two parcels: 558-00-00-146 and 558-00-927 totaling 8.474 acres. Parcel #146 is 7.848 acres and is within the Town of Mt. Pleasant. The zoning ordinance is the highly coveted AB-2, permitting a variety of high impact commercial uses. The site is currently improved with two metal buildings totaling approximately 22,000 square feet. Much of the land is fenced in. The property is tenant occupied, but it may be vacated for redevelopment. Access is directly from Highway 17 via one very large curb cut shared with the contiguous parcel included in this offering. Parcel 927 is approximately .626 acres and located in unincorporated Charleston County. It is zoned planned development. The property is currently occupied by a Richards Bar & Grill and a billboard. The restaurant building is approximately 2,500 square feet and was built in the 1970s, according to public records. According to the survey, both properties are located in Flood Zone X. A wetlands determination letter written March 21, 2017 by the Army Corps of Engineers states the property "...Does not contain any wetlands and / or other waters of the United States..." A Phase I ESA is available.
Area Description: Central Mt. Pleasant location on Highway 17 adjacent the proposed Home Depot at the signalized intersection at Six Mile Road.
Lot Frontage: 296
Lot Depth: 744 & 944
Zoning Description: Parcel #146: Areawide Business 2- High impact commercial development; Mt. Pleasant. Parcel #927: Planned Development; Charleston County
Easements: Electric Lines, Utilities
Easements Description: Drainage & utility easements exist. Buyer to verify.
Available Utilities: Electric, Water, Sewer, Storm Drain, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,098 32,073 79,988
Median Age: 44.14 38.88 40.19
Households: 532 13,234 32,706

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