316 King Street - Stabilized Retail / Resi Investment

Retail-Commercial for Sale
Catylist Listing ID: 30634254
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 5,466 SF
Gross Building Area: See Agent
Sale Price: $4,000,000
Unit Price: $731.80 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Other
Cap Rate: 5.62%
Last Updated: 7/24/2020

Overview / Comments

Avaiable for purchase is the recently renovated mixed use property in the heart of King Street. The property is fully leased to two reputable retailers on the first floor, Salt Life and Sugar OMG, as well as a 5 bed room apartment on the second & third floor.

The retail was renovated and leased in 2019/2020 on triple net leases with annual escalations. Salt Life is a national company owned by Delta Apparel which has a market cap of over $80M.

The 5 bed residential unit was renovated in 2018 and has 2 kitchens and 5.5 baths. Additionally, the unit can be divided into two units, as there is a connecting interior door that connects the units.

The property is located amongst other major retailers including Apple, Pottery Barn, William Sonoma, Yeti, Sephora, Marine Layer, Steve Madden and many more. Additionally, the property is a block of College of Charleston's campusand has a walk score of 96.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 4570404012
Year Built: 1903

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,778 57,755 136,279
Median Age: 29.11 34.44 36.71
Households: 8,778 24,311 57,059
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