7644 southrail

Industrial for Sale
Catylist Listing ID: 30796060
Property Subtypes: Flex Space, Mixed Use, Warehouse/Distribution
Building Size (RSF): 48,000 SF
Gross Land Area: 3 Acres
Sale Price: $8,200,000 - 8,400,000
Unit Price: $170.83 - 175 PSF
Ceiling: 23 ft. / 16 ft. Clear
Docks/Doors: 32 Doors
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 95
Last Updated: 7/29/2022

Overview / Comments

With leases now signing at $14 psf, NNN, this property, with the asking of $8 million, is about an 8% cap. With the current rate increases already signed, it’s already about a 6% cap. Flex space, zones North Charleston M-1. Fully occupied with an average term of $10 a sqft annually, NNN. The average lease rate in the area is approximately $14 psf. 4 detached buildings, 12,000 sqft each; first one is lower height and doors, being 12 foot clearance, 20 foot ceiling height with 12X10 doors; the other three being

16 foot clearance height with 23 foot sloped ceilings and 16x30 doors. Situated on 3 acres, for ample parking, conveniently located off Ashley Phosphate and near Palmetto commerce. Site is fully fenced.New leases are signed at $14 psf, nnn. The add in value isn't a theory or estimate, it's proven!

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Taxing Authority: Charleston county
Tax ID/APN: 4840000092
Zoning: LI - Light Industrial District
Highway Access: Off Ashley Phosphate rd, approx. 3min to I-26
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 1
Typical SF / Floor: 12,000 SF
Property Condition: Good
Year Built: 2007
Construction/Siding: Brick/Aluminum Siding
Parking Type: Surface
Eave Height: 16
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Zoning Description: North Charleston M-1. light industrial.
Land Ownership: owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,963 56,898 146,337
Median Age: 31.56 31.81 32.73
Households: 3,739 21,750 55,528

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