Retail, Office, or Residence(s) - 15 Broad Street

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30654760
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Status: Pending/Contingent
Building Size (RSF): 7,024 SF
Gross Building Area: See Agent
Sale Price: $2,750,000
Unit Price: $391.51 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Undisclosed
Cap Rate: 7.3%
Last Updated: 10/14/2020

Overview / Comments

Located on high ground in the heart of the historical district, 15 Broad is a distinguished, 5 floor, grand building, w/ roughly 7000+ sq. ft & infinite potential. The currently vacant property has many possible configurations— principal residence (currently), ground floor commercial retail/bar/restaurant & up to 3 Multi-level penthouses/offices w/ views of Fort Sumter & the Ravenel Bridge. Existing rooftop terrace may have expansion possibilities. The building's entire structural components were overhauled in a 2016 renovation. Extensive foundation reinforcement was added along w/ upgrades at the footings/piers. All flooring was also reengineered/reconstructed & rough framing of all walls/stairs completed.
All window frames were removed/rebuilt to accept refurbished historic window sills. All outdated mechanical, electrical & plumbing systems were removed from the building. All work done was permitted/approved by the City of Charleston & Board of Architectural Review. Significant Federal & State (including abandoned) tax credits available. Currently Zoned LB (limited business). Cap shows 7.3% before the construction to finish.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 4580903132
Year Built: 1815

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,193 59,894 122,533
Median Age: 30.29 34.84 36.87
Households: 6,081 25,060 52,267
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