North Charleston Commercial Kitchen

Retail-Commercial for Sale
Catylist Listing ID: 30578526
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Other
Building Size (RSF): 3,510 SF
Gross Building Area: See Agent
Gross Land Area: 0.46 Acres
Sale Price: $790,000
Unit Price: $225.07 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Charleston Commercial Kitchen
Sale Terms: Cash to Seller
Cap Rate: 8.53%
Last Updated: 10/19/2020

Overview / Comments

This working commercial kitchen is an excellent turn key investment or space to expand a current catering or restaurant business. Gated parking for tenants and food trucks provides extra security. Many of the commercial grade appliances, the roof and HVAC have been updated since 2017. Most tenants would like remain after the sale, making this property an instant income generator. Property produces an 8.53% cap rate at current price and with with taxes based on list price. There is room to increase the tenant capacity for greater cash flow and cap rate. Located on Rivers Avenue, this property is a third of a mile to I-26 and half a mile to I-526.

Fixtures include:
• Walk in freezer
• Fire Suppression System
• 2 double stack Southbend ovens
• 1 half stack Hobart oven
• 10 burner Southbend range
• 350 pound Hoshizaki Ice machine
• 4 triple sinks
• 2 single sinks
• 30 quart Hobart mixer
• Reolink Camera security system
• 2 air curtains

Financials

Finance Data Year 2019
Gross Operating Income $115,674 (Annual)
Net Operating Income $35,000 (Annual)

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 472-08-00-100
Zoning: B-2 (NORTH CHARLESTON)
Retail Clientele: General, Business, Other
Property Visibility: Excellent
Largest Nearby Street: Remount Road
Feet of Frontage: 93
Site Description: .46 acres
Area Description: Bustling commercial area of North Charleston.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,510 SF
Property Condition: Excellent
Year Built: 1971
Year Renovated: 2017
Parking Type: Surface
Parking Description: Parking in front of building, and gated and fenced behind building

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,910 51,370 126,820
Median Age: 32.91 32.6 33.55
Households: 3,354 19,685 48,839

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