Three-Story Mixed-Use
59 Broad Street Charleston, SC 29401
For Sale
Contact for pricing
Three-story mixed-use building with approved food and beverage use and storefront renovation planned for the ground level.
Property Size5,743 SF
Price / SF$461.43
Days on Market133
Property Features for 59 Broad Street
General Information
- Standard status
- Active
- Size
- 5,743 SF
- Property subtype
- Mixed Use, Multifamily, Office, Retail, Special Purpose
Listing Agency:
Charleston Commercial
(843) 284-6873
Listed By:
Nick Maylander · License #SC 110971
Source:
Crexi
Added: Mar 14
Changed: Jul 23
Last Checked: Jul 23 at 6:45PM
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
Investment Insights
Based on property information with market context.
59 Broad Street is a three-story mixed-use building located along Broad in Charleston’s historic commercial corridor. The property totals 4,923 square feet with approximately 1,641 square-foot floor plates across the existing levels.
The sale includes entitlements and approvals for food and beverage use, including BAR approved, permit-ready work. Planned improvements call for a fourth-floor penthouse addition that can tie into the third floor, as well as a storefront renovation intended to activate the ground floor with accordion doors and updated facade.
This offering presents an adaptive-reuse configuration that supports both owner-occupant and investor scenarios, with a ground-floor storefront component and expanded upper-level buildout tied to the approved entitlements.
The sale includes entitlements and approvals for food and beverage use, including BAR approved, permit-ready work. Planned improvements call for a fourth-floor penthouse addition that can tie into the third floor, as well as a storefront renovation intended to activate the ground floor with accordion doors and updated facade.
This offering presents an adaptive-reuse configuration that supports both owner-occupant and investor scenarios, with a ground-floor storefront component and expanded upper-level buildout tied to the approved entitlements.
Key Highlights
- 3‑story mixed‑use building totaling 4,923 SF with +/- 1,641 SF floor plates
- Approved entitlements for food & beverage use
- Addition of a fourth‑floor penthouse, with ability to tie into the third floor
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $23.40 |
| − Vacancy | −$10.5k | −$1.83 |
| EGI | $123.9k | $21.57 |
| − OpEx | −$31.0k | −$5.39 |
| NOI | $92.9k | $16.18 |
5,743 SF · lease $23.40/SF/yr · vacancy 7.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,928 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$1.10M
$966.6K – $1.29M
NOI $77,331 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,791 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sherman Mitchell L
Law Firm
Jones Kenneth L
Insurance Agency
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use building with approved food and beverage use and storefront renovation planned for the ground level.
Where is this mixed-use property located?
The property is located at 59 Broad Street Charleston, SC.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 3‑story mixed‑use building totaling 4,923 SF with +/- 1,641 SF floor plates; Approved entitlements for food & beverage use; Addition of a fourth‑floor penthouse, with ability to tie into the third floor
