561 King St
Charleston, SC 29403
Fire Tower Portfolio · Property For Sale · 42,808 SF Total

Irreplaceable Zoning — Commercial STR Rights
The Portfolio sits within the only City-designated Short-Term Rental Overlay Zone in downtown Charleston (approx. 10% of downtown land area) and the Accommodations Overlay Zone, together permitting commercial STR operations at scale without owner-occupancy requirements — entitlements that are nearly impossible to replicate.
Trophy Location on Upper King Street
Positioned at the high-visibility corner of King Street and Cannon Street, the Portfolio benefits from exceptional foot traffic, proximity to Charleston’s finest dining, nightlife, and retail, and walkability to major demand generators including CofC, MUSC, and a vibrant tourism corridor attracting nearly 7.9 million annual visitors.
Stabilized, Diversified Income Stream
The Portfolio generates income from two complementary sources: professionally managed commercial short-term rentals and four street-level retail tenants, providing stable base income and diversified rent growth.
Newly Constructed and Recently Renovated Asset
The 21-unit building at 9 ½ Cannon Street was constructed in 2024 and features a sleek, modern design with in-unit laundry, fully stocked kitchens, high-speed Wi-Fi, and access to shared courtyard, terrace, and rooftop with panoramic views. Additionally, 563 King Street and 9 & 11 Cannon Street were completely renovated and modernized in 2017, mitigating the portfolio’s near term exposure to capital expenditure risk.
Significant NOI Upside
With Charleston’s tourism industry growing year over year at an exceptionally fast rate, this portfolio’s short-term rentals are poised to benefit from consistent and strong annual increases in operating income. The Portfolio’s pro forma NOI is projected to reach over $3M by Year 10, representing a near doubling of NOI and revealing exceptional value add potential for investors.