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): 5,467 SF
Gross Building Area: See Agent
Sale Price: $950,000 - 1,100,000
Unit Price: $173.77 - 201.21 PSF
Property Use Type: Investment, Business
Usable Size (USF): 5,467 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing, Other
Cap Rate: 10.15%
Average Occupancy Rate: 100
Last Updated: 10/16/2020

Overview / Comments

Back on the market, due to failure of buyer's contingent sale. Rare opportunity to acquire more than 5,000 square feet of commercial space in rapidly appreciating downtown Charleston. Motivated seller. This can close quickly, and owner financing is a possilibity. Situated on Rutledge Avenue, 2.5 blocks from Septima Clark Parkway, the building, currently with storefront and warehouse area, is suitable for a variety of purposes. The location currently houses a highly successful business, in operation continuously since 1938. The business, brand, and equipment can be included in the sale if desired, or 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. The building is in excellent condition, with a brand new roof and HVAC system (installed January, 2020). 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
Exterior Description: New Roof (January, 2020).
Heat Source: Central
Air Conditioning: Package Unit, Other
Internet Access: Cable
Interior Description: New 5-ton HVAC (January, 2020).
Zoning Description: General Commercial - City of Charleston
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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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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