Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    345 King St Charleston, SC 29401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-story retail property in Charleston's prime retail district.

    Type:Retail
    Property size:
    3,355 SF
    Added:
    Dec 10, 2024
    Days on Market:
    490
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 345 King St

    General Information

    Standard status
    Active
    Size
    3,355 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Josh Schaap

    Listing agent Josh Schaap License #SC 55385

    Listing office Charleston Commercial

    Listing date Dec 10, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Charleston Commercial

    Overview

    King Street Retail Investment Property

    The property at 345 King Street is a two-story building situated in the retail district of King Street. It is currently leased to Kenny Flowers, an upscale tropical clothing and lifestyle brand, under a Single Tenant Modified Gross Lease. The property serves as a ground floor retail and showroom space, with the second floor functioning as an event space, complete with a bar and patio. The retail lease includes a three-year base term, options, and annual escalations. The property is located among luxury retail stores, hotels, and restaurants. The property offers an opportunity for an investor looking for a long term hold, or an exchange buyer interested in an insulated trophy property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    King Street Cabana ... Hotel & Motel Birdies Slippers Clothing & Fashion Store ellsworth & ivey Clothing Store Kenny Flowers – Charleston Clothing Store Kissmet Home Decor Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Firefly Weddings & Events — 215 E Bay St Suite 201 D, Charleston, SC 29401
    • Florist Charleston Flowers 💐 — charleston, sc 29401
    • Flower Fresh Cleaning Services — Charleston, SC 29401
    • Sweet Jessamine Flower Truck — Charleston, SC 29401

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Berkeley
    State
    South Carolina
    Longitude
    -79.9357162
    Latitude
    32.7847303

    Nearby Similar for Sale

    • $2,650,000
      4,923 SF

      Historic Charleston Mixed-Use Building

      Three-story mixed-use building in Charleston's historic commercial corridor.
      59 Broad Street, Charleston, SC 29401
      View Details
    • $925,000
      1,461 SF

      Renovated Duplex in Downtown Charleston

      Turnkey duplex near MUSC & CofC, completed renovation in 2025.
      68 Lee Street unit: A & B, Charleston, SC 29403
      View Details
    • $650,000
      1,592 SF

      Charleston Duplex Investment Opportunity

      Income-producing duplex near Downtown Charleston and Folly Beach.
      767 Bermuda Street, Charleston, SC 29412
      View Details
    • $898,000
      1,800 SF

      Downtown Charleston Triplex Opportunity

      Triplex in Downtown Charleston with income potential and upside.
      40 Nunan Street, Charleston, SC 29403
      View Details
    • $339,000
      1,269 SF

      West Ashley Multifamily Opportunity

      Duplex in good condition with potential for expansion.
      1507 Evergreen Street, Charleston, SC 29407
      View Details
    • $1,700,000
      3,531 SF

      Charleston Four-Unit Multifamily Property

      Charming 4-unit property in downtown Charleston near MUSC and College of Charleston.
      123 Smith Street, Charleston, SC 29403
      View Details
    • $799,000
      2,017 SF

      Renovated Duplex Near Downtown Charleston

      Turn-key duplex investment opportunity near downtown Charleston.
      1038 Harbor View Road, Charleston, SC 29412
      View Details
    • $2,700,000
      4,300 SF

      Historic Downtown Charleston Triplex

      Three-unit home in the heart of Radcliffeborough.
      77 Pitt Street, Charleston, SC 29403
      View Details
    • $369,000
      1,528 SF

      Marsh-Front Home in West Ashley

      Updated 3 bedroom home with marsh views and convenient location.
      504 Parkdale Drive, Charleston, SC 29414
      View Details
    • $495,000
      1,664 SF

      West Ashley Multifamily Opportunity

      Versatile property near West Ashley Bikeway with income potential.
      1514 Balsam Street, Charleston, SC 29407
      View Details
    • $1,199,000
      2,800 SF

      Renovated Historic Duplex in Charleston

      Turn-key duplex in downtown Charleston's vibrant Eastside neighborhood.
      66 America Street unit: A&B, Charleston, SC 29403
      View Details
    • $440,000
      1,278 SF

      James Island End Unit

      Desirable location, pond view, updated features, low HOA.
      1424 Amanda Park Lane, Charleston, SC 29412
      View Details

    FAQs

    What type of property is this?
    Storefront property - Two-story retail property in Charleston's prime retail district.
    Where is this storefront property located?
    The property is located at 345 King St Charleston, SC.
    What is the asking price?
    The asking price for this property is $3,197,000.
    What are key features of this property?
    This property features: Prime King Street location in the heart of the retail district, surrounded by luxury retail, hotels, and world‑class restaurants.; Single tenant property leased to Kenny Flowers, an upscale tropical clothing and lifestyle brand.; Modified Gross Lease with a credit retailer, providing stable income.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Josh Schaap
    Real Estate License ID: SC 55385
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!