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    916 Bay St Beaufort, SC 29902

    For Sale
    $7,750,000

    Downtown Beaufort, Waterfront Views, Redevelopment Ready

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional multifamily property at 916 Bay Street in Beaufort, South Carolina, presents a unique redevelopment opportunity. Situated on a 0.15-acre lot, this prime location offers unparalleled access to the vibrant downtown area, boasting boutique shopping, exquisite dining, and rich historical charm. The property's proximity to Waterfront Park provides residents with stunning open spaces without the burden of maintenance. Boating enthusiasts will appreciate the marina, conveniently located just 400 feet away. A playground is also within easy reach, approximately 560 feet southeast of the property. The existing structure boasts a robust foundation, minimizing permitting challenges for future development. The building features durable 2'x3' steel-reinforced concrete walls and a sturdy roof, significantly reducing the cost and complexity of any necessary modifications. Two vertical chases, extending from ground level to the rooftop, along with horizontal chases on each floor, simplify the integration of new mechanical, electrical, and plumbing systems. An elevator in excellent condition ensures convenient access to all floors. Covered parking, secured by a gate, enhances the property's appeal and provides added security for residents. Priced at $7,750,000, this property represents a compelling investment opportunity in a highly desirable location. The combination of its strong structural integrity, prime location, and redevelopment potential makes this a truly exceptional offering.

    Property Features for 916 Bay St

    General Information

    Property type
    Residential income properties
    Lot Size
    6,534 SF

    Building Details

    Year Built
    1978
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    North & Black PC Attorney Morgan Keegan & Co Stock Broker

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Beaufort
    County
    Beaufort
    State
    South Carolina
    Longitude
    -80.67225
    Latitude
    32.43071

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    FAQs

    What type of property is this?
    Residential income property - Downtown Beaufort, Waterfront Views, Redevelopment Ready
    Where is this residential income property located?
    The property is located at 916 Bay St Beaufort, SC.
    What is the asking price?
    The asking price for this property is $7,750,000.
    (877) 229-4107
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    916 Bay St Beaufort, SC 29902
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    Beaufort, SC 29902
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    916 Bay St Beaufort, SC 29902
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