487 King Street - First Floor Restaurant Hospitality with Tenant

Retail-Commercial for Sale
Also listed as Hospitality
Catylist Listing ID: 30787973
Property Subtypes: Restaurant, Street Retail, Tavern/Bar/Nightclub
Condo? Yes
Building Size (RSF): 1,650 SF
Gross Building Area: See Agent
Sale Price: $1,695,000
Ceiling: 10 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 6/23/2022

Overview / Comments

Reduced Price -Currently Leased - First Floor Restaurant Hospitality with Tavern Use and Grandfathered 2am Bar Use is For Sale located in highly recognized King Street corridor. This outstanding Modern Architecture building is located in the heart of downtown Charleston. Amazing King Street window frontage offer high visibility with its own private entry for first floor Restaurant. Located in one of the most highly desirable neighborhoods for business and pleasure. FF&E to be negotiated with offers. Tenant in place for 3.5 years remaining with 3% increase to the base rent annually. No parking conveys. Ask listing agent for more details. In the Opportunity Zone.

Current Tenants

Tenant Business Name Marios Restaurant
Is Renting? Yes

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 4601202090
Is Condo?: Yes
Zoning: GB - General Business
Retail Clientele: General, Business, Tourist
Property Located Between: King Street - between Morris and Radcliffe
Property Visibility: Excellent
Largest Nearby Street: King Street
Feet of Frontage: 40
Airports: CHS
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 1,650 SF
Property Condition: Excellent
Year Built: 2006
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Block, Brick, Metal/Glass, Stucco
Exterior Description: Modern Architecture
Parking Type: Other
Parking Description: No parking conveys with Building but spaces can be rented monthly in near by parking lots
Sprinklers: Other
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Classic Architectural
Zoning Description: General Business Zone GB, Opportunity Zone
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,173 57,192 137,010
Median Age: 29.15 34.17 36.54
Households: 9,718 24,188 57,250
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