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345 King St 3,794 SF 100% Leased Retail Building Charleston, SC 29401 $4,462,756 CAD ($1,176.27 CAD/SF) 5.32% Cap Rate
EXECUTIVE SUMMARY
Charleston Commercial, on behalf of ownership, is pleased to exclusively offer the 345 King Street to qualified Buyers. The offering includes a Single Tenant Modified Gross Lease Property located in the heart of the retail district of King Street. The two story property is leased to Kenny Flowers, which is an upscale tropical clothing and lifestyle brand that is all about embracing the feeling of vacation, every day
The two story property serves as ground floor retail/ showroom space for the brand, with the second floor serving as an event space, equipped with a bar and patio.
The retail lease features a three year base term with options and annual escalations. Located along King Street, amongst luxury retail, hotels, and world class restaurants, the property features a credit retailer with below market rate. This highly sought after location creates high barriers to entry, and near impossible to replicate, making 345 King Street a great opportunity for an investor looking for a long term hold, or an exchange buyer interested in an insulated trophy property.
The two story property serves as ground floor retail/ showroom space for the brand, with the second floor serving as an event space, equipped with a bar and patio.
The retail lease features a three year base term with options and annual escalations. Located along King Street, amongst luxury retail, hotels, and world class restaurants, the property features a credit retailer with below market rate. This highly sought after location creates high barriers to entry, and near impossible to replicate, making 345 King Street a great opportunity for an investor looking for a long term hold, or an exchange buyer interested in an insulated trophy property.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,794 SF
Building Class
C
Year Built
1900
Price
$4,462,756 CAD
Price Per SF
$1,176.27 CAD
Cap Rate
5.32%
NOI
$237,306 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.97
Lot Size
0.09 AC
Zoning
Commercial - General Business
Frontage
31’ on King St
AMENITIES
- Bus Line
- Restaurant
- Signage
- Air Conditioning
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 457-04-02-035 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $241,023 CAD |
PROPERTY TAXES
Parcel Number
457-04-02-035
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$241,023 CAD
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345 King St
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