78 Society St. - Short Term Rental / Commercial

Multi-Family for Sale
Also listed as Retail-Commercial, Hospitality
Catylist Listing ID: 30117944
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 2,976 SF
Gross Building Area: See Agent
Gross Land Area: 0.10 Acres
Sale Price: $2,400,000
Unit Price: $1,200,000 Per Unit
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 6.4%
Last Updated: 5/19/2018

Overview / Comments

78 Society is in the Accommodations Overlay. So, the new Short Term Rental Ordinance DOES NOT APPLY! A rare opportunity for short-term rentals, commercial uses, residential uses, or mixed-uses with off-street parking in this historic brick Ansonborough home.

78 Society is zoned General Business, lies in the Accommodations Overlay, is in the X-Flood Zone (no flood insurance), has 3-4 off-street parking spaces (two in the secured 76 Society garage next door) and a basement (not included in the building square footage). All of this in a beautiful brick home with 4 bedrooms, 3.5 baths, double piazzas, original fireplaces, and a secluded courtyard.

Currently the property is being used as a short term rental, plus 430+/- sf of the main floor being converted to a commercial use. With two meters and GB zoning, the buyer of this property will have the opportunity to use this property for live/work, multi-family, short-term rental, or a broad range of commercial uses.

Located half a block off King Street, 78 Society is walking distance to wonderful shopping, restaurants, the battery, and all historic Charleston has to offer.

As you'll see from the attached floor plan, it's possible to subdivide this property into two or more units allowing a combination of short-term rentals (VRBO and AirBnB), long-term rental, and/or your personal residence or business. Let's explore the possibilities.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 457-04-04-029
Zoning: GB - General Business
Percent Occupied: 0%
Property Located Between: King and Meeting, on Society St.
Area Description: Located in the King Street Design District, 78 Society is easily walkable to countless hotels, restaurants, shops, parks and more.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1908
Construction/Siding: Brick
Parking Type: Structure, Surface
Parking Description: 2 off-street parking spaces, plus 2 secured garage spaces (see attached easement) in the 76 Society parking garage next door. 78 Society has private access to this parking garage.
Total Parking Spaces: 4
Sprinklers: None
Heat Source: Central
Interior Description: Interior set up for the former Stella Nova Salon. Architectural drawings are available showing the former use and the proposed configuration as 2 or 3 mixed uses.
Zoning Description: The General Business, GB District allows a broad range of commercial uses and activities. It is the most intensive commercial zoning district. Prohibited uses include junk and salvage yards, storage yards (except for vehicles and boats)Automotive repair shops, gasoline service stations, veterinary clinics, and stables are permitted only as special exceptions subject to the approval of the Board of Zoning Appeals. The Accommodations Overlay Zone identifies properties in Charleston where accommodations uses (commercial uses providing living or sleeping units where the intended duration of occupancy would not exceed 29 consecutive days � see full definition in Sec. 54-120 of the zoning ordinance) may be permitted by the BZA-Z as a zoning special exception if the Board determines that requirements of Sec. 54-220 of the zoning ordinance are satisfied.
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Property includes a Parking Easement (See attachments) allowing for 2 additional parking spaces at the adjoining property (76 Society). These parking spaces are located in the secured parking garage and includes access to/from the garage at the rear of 76 Society.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,903 56,354 136,279
Median Age: 29.34 34.51 36.71
Households: 7,826 23,532 57,059

Contact

Photograph of Listing Agent

Patrick H Bell, CCIM | REALTOR

Carolina One Real Estate SCCMLS Member
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