(+/-) 32,260 SF Office Building | Investment Sale

Office for Sale
Catylist Listing ID: 30820700
Property Subtypes: Business Park, Executive Suites, Medical, Office Building
Building Size (RSF): 32,260 SF
Gross Building Area: See Agent
Sale Price: $5,250,000
Unit Price: $162.74 PSF
Property Use Type: Investment
Building Name: Ashley Office Park
Class of Space: Class B
Sale Terms: Cash to Seller, Owner Financing, Other
Cap Rate: 4.99%
Last Updated: 11/15/2022

Overview / Comments

Ashley Office Park is a (6) six-building office park located off Ashley Phosphate Road, in between the two major corridors of the peninsula, I 26 and Rivers Avenue. The property features great visibility (+60,000 VPD), ample free parking, and multiple access points on the 3-acre site. The ownership recently completed major renovations and modernizations to the park. Exterior renovations included new brick/foundational work, roof updates, landscaping, monument and suite signage, additional security, and modern design features. Current tenancy mix is essential service and medical users with a long track record at the park. The remaining availabilities range in size from 1,204 SF to 3,173 SF. The subject property’s location features major national brands within short distance of the site providing multiple food, retail, and hospitality service providers to the tenancy.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 4780300012, 013, 015, 017
Zoning: GB - General Business
Property Located Between: I-26 and RIvers Ave
Property Visibility: Excellent
Highway Access: Immediately off I-26
Airports: Charleston International
Area Description: Located in North Charleston, the subject property is on the morning side of Ashley Phosphate between I-26 and RIvers Ave. The surrounding area is filled with national retailers, food options, and hotels. Property has close proximity to the Charleston International Airport (CHS), Northwoods Mall, Trident technical College, and Charleston Southern University.
Total Number of Buildings: 6
Number of Stories: 2
Year Built: 1988
Year Renovated: 2021
Construction/Siding: Brick
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,113 65,218 131,557
Median Age: 28.87 31.55 32.23
Households: 2,166 25,063 49,444
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