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    3512 Shelby Ray Ct Charleston, SC 29414

    Sponsored
    For Sale
    $7,700,000

    240 Units, 33 Acres, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 33-acre tract in Charleston, SC (APN 306-00-00-003), offers a unique opportunity to develop a 240-unit active adult multifamily community. The property is entitled for 240 units, with flexibility to include up to 55 row/town/patio homes or all stacked units. An additional 4.37+ acre commercial parcel allows for up to 16,000 square feet of development. The site benefits from its proximity to major roadways, including the recently widened Glenn McConnell Parkway (45,300 vehicles per day), providing easy access to I-526 and Bees Ferry Road. This prime location is also served by the Bees Ferry/Glenn McConnell corridor and is only 2.5 miles from Bon Secours - Roper St. Francis Hospital. The area boasts a population of over 94,000 within a 5-mile radius, with significant residential growth underway. Furthermore, the development includes a 52+ acre permanent green space featuring bike and pedestrian paths connecting to West Ashley Park, enhancing the community's appeal and livability. Nearby amenities include a variety of retail options such as Walmart, Harris Teeter, Starbucks, and numerous other businesses. The asking price for this remarkable development opportunity is $7,700,000. This is a truly exceptional investment opportunity in a rapidly growing market.

    Property Features for 3512 Shelby Ray Ct

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,437,480 SF

    HighLights

    • High‑traffic location on Glenn McConnell Pkwy with 45,300 vehicles per day.
    • 240‑unit active adult multifamily development.
    • 16,000 square foot maximum building size.
    • Strong demographics with over 94,000 people in the surrounding area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.0703845
    Latitude
    32.8222131

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    FAQs

    What type of property is this?
    Multifamily property - 240 Units, 33 Acres, Prime Location
    Where is this multifamily property located?
    The property is located at 3512 Shelby Ray Ct Charleston, SC.
    What is the asking price?
    The asking price for this property is $7,700,000.
    What are key features of this property?
    This property features: High-traffic location on Glenn McConnell Pkwy with 45,300 vehicles per day.; 240-unit active adult multifamily development.; 16,000 square foot maximum building size.
    (843) 343-1351
    Request Owner's contact information
    3512 Shelby Ray Ct Charleston, SC 29414
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    Charleston, SC 29414
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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
    3512 Shelby Ray Ct Charleston, SC 29414
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