70 Queen Street - 15 parking spaces

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30720551
Status: Pending/Contingent
Gross Land Area: 3,000 SF
Sale Price: $1,875,000
Unit Price: $625 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/13/2021

Overview / Comments

This listing is for fifteen spaces that are located in a twenty seven space lot. The spaces have been generating excellent income and is managed by HAH. These spaces are the first twelve on the west side of the lot, closest to Queen. Space 11 is not owned by the seller, but the owner is in the process of swapping his space to a different one to allow a contiguous group. The remaining three spaces are on the east side of the lot closest to the Gibbes Museum. Currently the spaces that are rented short term are managed by HAH parking app. Regime is expected to be about $60 per year per space ($40 for insurance, $20 for reserves for eventual repaving).The only other expense will be property taxes as the gross income noted as already seen the management fee taken out. Seller began having non payers towed in the middle of May 2021 and has seen a drastic increase in income. It went from a $14 per day per space average in daily income to $30 to $40 per space per day in daily income. On average, the spaces have been generating in the neighborhood of $1,000 per month per space, which is after the management fee has been applied.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 4570804191
Zoning: GB - General Business

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,814 62,377 128,050
Median Age: 29.18 34.69 36.8
Households: 5,963 26,112 54,507


Photograph of Listing Agent

Beau M Mueller, III

Carriage Properties LLC SCCMLS Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither South Carolina Statewide Commercial MLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.