Folly Beach Development Opportunity

Multi-Family for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30668005
Property Subtypes: Duplex/Fourplex, Mixed Use
Status: Pending
Number of Units: 3 Units
Building Size (RSF): 3,699 SF
Gross Building Area: See Agent
Gross Land Area: 0.24 Acres
Sale Price: $1,275,000
Unit Price: $425,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 99
Last Updated: 2/2/2021

Overview / Comments

Rare Folly Beach downtown investment opportunity! Zoned Downtown Commercial, this property offers a wide array of potential uses. The .24 acre lot runs street to street from E. Huron Ave to E. Indian Ave, the the public beach access path conveniently located along the side of the property. The existing building is comprised of a residential duplex facing E Huron and a commercial unit facing E Indian (current tenant is a bike rental shop). The residential units are currently rented by the room on a month-to-month basis.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 22 - Folly Beach Area to Battery Island
Tax ID/APN: 328-10-00-043
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1950
Construction/Siding: Vinyl Siding
Parking Type: Surface

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,210 18,296
Median Age: 40.23 39.01
Households: 4,390 8,133


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