Red Bank Family Dentistry

Office for Sale
Catylist Listing ID: 30364963
Property Subtypes: Medical, Flex Space, Office Building, Other
Building Size (RSF): 5,930 SF
Sale Price: $599,900
Unit Price: $101.16 PSF
Ceiling: 8 ft.
Property Use Type: Investment
Building Name: Red Bank Family Dentisty
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: 6.47%
Last Updated: 1/23/2020

Overview / Comments

4 unit building with long term tenants in place. 2018 traffic count is 27,200. The building is located on two lots with a back lot used for parking is being included in the sale. Addresses are 509 Red bank Rd, 513 Red Bank Rd and 341 Price St. There is a lot of potential for this building, currently a mixed use of medical, event planning and art studio.

Current Tenants

Tenant Business Name Red Bank Family Dentistry
Is Renting? Yes
Annual Revenue $17,503 (Annual)
Employees Total 4
Employees at Location 4
Year Founded 2015
Suite Number 513
SF of Space Occupied 1,650 SF
Current Rent $1,459 PSF (Annual)
Lease Expiration 6/2020
Escalations 5% per year
Options 5 Year extension if mutually agreed
Tenant Notes Great tenant.
Tenant Business Name Happy Hour Art Studio
Industry Type Arts, Entertainment, and Recreation
Is Renting? Yes
Annual Revenue $6,300 (Annual)
Employees Total 1
Employees at Location 1
Year Founded 2018
Suite Number 509
SF of Space Occupied 700 SF
Current Rent $525 PSF (Annual)
Lease Expiration 12/2019
Escalations 5% per year
Options 10 year extension with tenant notification before 12/31/18 each year.
Tenant Business Name Events by Evangela
Industry Type Accommodation and Food Services
Is Renting? Yes
Annual Revenue $12,600 (Annual)
Employees Total 1
Employees at Location 1
Year Founded 2018
Suite Number 511
SF of Space Occupied 1,300 SF
Current Rent $1,050 PSF (Annual)
Lease Expiration 12/2019
Escalations 5% per year
Options No extension unless mutually agreed
Tenant Business Name Unit 515 - Vacate
Current Rent $1,350 PSF (Annual)

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 72 - G.Creek/M.Corner Hwy.52-Cooper Riv
Taxing Authority: Berkeley County
Tax ID/APN: 252-01-03-017, 252-01-03-044, 252-01-03-028
Zoning: GC - General Commercial District
Property Located Between: Intersection of NAD Rd/Howe Hall Rd and Forest Lawn Dr
Property Visibility: Excellent
Highway Access: Two curb cuts off Redbank Rd
Airports: Charleston International
Site Description: Strip style office building with .25 acres additional parking in the rear.
Area Description: Up and coming east side of Goose Creek with great viability next to a busy restaurant and Veterinary.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,930 SF
Year Built: 1970
Year Renovated: 2018
Roof Type: Arched
Construction/Siding: Brick, Wood Siding
Exterior Description: Clean office from with 4 separate entryways.
Parking Ratio: 6 (per 1000 SF)
Parking Type: Roof Top, Other
Parking Description: 15 parking spaces in front of building and approximately 60 in the back on .26 acres.
Total Parking Spaces: 75
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Sheetrock/panel walls with wall to wall carpet in most units.
Zoning Description: General office
Lot Frontage: 120 '
Lot Depth: 165' on front lot
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Fee Simple
Legal Description: Lot 29, Blk A Lot 13/Blk A Lot 14, Blk A

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,324 71,313 123,908
Median Age: 34.2 33.2 32.27
Households: 3,718 26,930 45,423
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