St. Peter's by the Sea Church Complex

Special Purpose for Sale
Catylist Listing ID: 30638899
Building Size (RSF): 10,300 SF
Sale Price: $990,000
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2020

Overview / Comments

This Opportunity Zone property with 4 buildings near the old Navy Base may offer a trifecta of tax incentives, as it may also be eligible for the Historic Rehabilitation tax credit and the Abandoned Buildings Revitalization tax credit.

Initially constructed during World War I and rebuilt in World War II, St. Peter’s by the Sea church served the Navy Base community for most of a century.

This complex includes four buildings on approx .77 acres near the intersection of Spruill and Reynolds Avenue: the main brick church building, approx 3,300 sq.ft., that is dry but needs some work, a 4,000 sq.ft. brick rectangular building that needs a new roof and new interior, a 1,500 sq.ft. remodeled office that was once a residence, and a 1,500 sq.ft. ready-to-renovate office that is cleaned out down to the studs (this office could also be removed to increase parking).

The centrally located complex is only 8 minutes from downtown and 6 minutes from West Ashley, This property is approved by the City of North Charleston for B1 zoning.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Tax ID/APN: 469-12-00-272
Total Number of Buildings: 4
Year Built: 1945
Year Renovated: 2019

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,878 44,149 134,417
Median Age: 33.56 35.63 34.45
Households: 2,688 16,941 54,385


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