Downtown Charleston - Retail

Retail-Commercial for Sale
Catylist Listing ID: 30385366
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 4,319 SF
Gross Building Area: See Agent
Sale Price: $945,000 - 1,000,000
Unit Price: $218.80 - 231.54 PSF
Property Use Type: Investment, Business
Usable Size (USF): 4,319 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing, Other
Cap Rate: 10.15%
Average Occupancy Rate: 100
Last Updated: 10/5/2019

Overview / Comments

This is a rare opportunity to acquire more than 4,300 square feet of commercial space in rapidly appreciating downtown Charleston. This can close quickly. Situated on Rutledge Avenue, 2.5 blocks from Septima Clark Parkway, the storefront and building are suitable for a variety of purposes. The location currently houses a highly successful business, in operation continuously since 1938. The business and brand can be included in the sale, but the value is likely in the real estate, as the property can be acquired and modified by the buyer to suit a variety of future needs. The current zoning designation of General Business allows for flexibility in prospective usage. Additional information and photographs are available upon request. **This is a quiet sale; there is no real estate sign on the property. Please do not disturb owners or employees.**

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 52 - Peninsula Chas. outside of crosstown
Submarket Type: Redevelopment District
Tax ID/APN: 460-07-02-137
Zoning: GB - General Business
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Good
Largest Nearby Street: Septima Clark Parkway
Highway Access: Located in close proximity to Septima Clark Parkway and I-26.
Airports: Charleston International Airport
Area Description: Adjacent to Opportunity Zone in rapidly developing downtown area.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,319 SF
Property Condition: Excellent
Year Built: 1950
Year Renovated: 1990
Heat Source: Central
Air Conditioning: Package Unit, Other
Internet Access: Cable
Zoning Description: General Commercial - City of Charleston
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,573 58,873 142,775
Median Age: 27.86 34.29 36.06
Households: 9,051 24,865 60,068

Contact

Photograph of Listing Agent

Bradford V Hincher

Carolina One Real Estate SCCMLS Member
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