King Street Investment For Sale

Retail-Commercial for Sale
Also listed as Special Purpose
Catylist Listing ID: 30417710
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 6,517 SF
Gross Building Area: See Agent
Gross Land Area: 0.14 Acres
Sale Price: $4,000,000
Unit Price: $613.78 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 4.35%
Last Updated: 10/17/2019

Overview / Comments

*CURRENTLY THERE IS POTENTIAL FOR OWNER OCCUPANCY ON 2ND FLOOR. Fully leased mixed use, retail & office building, on lower King Street. The building offers a total of 47' of frontage, with a net lease area of approximately 6,114 square feet. The first floor is currently occupied for retail use, with the 2nd floor currently occupied by a law firm. In addition, the property consists of 16 parking spaces (stacked), which is a rare find on the Charleston Peninsula.

Attachments & Media

Current Tenants

Tenant Business Name Ooh Ooh Shoes
SF of Space Occupied 2,880 SF
Lease Expiration 9/2022
Escalations 5% annually
Tenant Notes Tenant pays 50% of taxes & insurance. Parking included in rent.
Tenant Business Name Phipps Law Firm
SF of Space Occupied 3,234 SF
Lease Expiration 4/2021
Escalations 4% annual rent increase
Tenant Notes Parking included in rent.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 457-08-04-039
Year Built: 1978
Total Parking Spaces: 16
Parking Type: Surface
Parking Description: 8 rows of stacked parking spaces (2 cars within each row) = 16 spaces.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,814 59,972 130,802
Median Age: 29.18 34.58 36.77
Households: 5,963 25,065 54,940


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