68 Braswell Street - Waterfront Development

Vacant Land for Sale
Sale Pending/Contingent
Also listed as Multi-Family, Hospitality
Catylist Listing ID: 30326856
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Vacation/Resort, Other
Status: Pending/Contingent
Gross Land Area: 7.90 Acres
Sale Price: $15,540,000
Unit Price: $1,967,088 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/1/2019

Overview / Comments

68 Braswell Street presents a unique opportunity to purchase an extremely rare 7.9 acre commercial waterfront site. The property’s location allows for a multitude of potential uses, including but not limited to marina/dry stack, hotel, multifamily, office, and retail. The surrounding Magnolia Site is the largest development tract available on the Charleston Peninsula. The City of Charleston proposes allowing building heights of up to 120 feet in this area with high density zoning.

The property has an existing concrete pier in place that will benefit and aid in the construction and operation of a marina/dry stack. The approximate water depth at low tide is 30 feet.

*This property is in a SC Opportunity Zone and qualifies for large capital gains tax breaks for Opportunity Fund investors.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 52 - Peninsula Chas. outside of crosstown
Taxing Authority: City of Charleston
Tax ID/APN: 4660000043
Zoning: I - Industrial District
Property Visibility: Excellent
Legal Description: 7.9 acres total with 6.9 acres high ground. Accessible from King Street.
Largest Nearby Street: King Street
Topography: Level

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,847 67,927 144,406
Median Age: 42.73 33.76 35.44
Households: 2,516 27,621 60,580
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