184 Bay St Charleston, SC 29401
- Retail properties
- 1,086 SF
Current Use by Public Records
- McMillan PLLC / Law Firm
- Facilitated Growth LLC / Financial Consultant / Consultant
Property Details for 184 Bay St
- Property size
- 1,086 SF
- Property type
- Retail properties
- Property subtype
- Bars
Description
This exceptional retail property, located at 184 E Bay St in Charleston, South Carolina, presents a compelling redevelopment opportunity. The 1,086 square foot space, currently configured as a convenience store, restaurant, and bar, is situated in a vibrant downtown location just one block from Waterfront Park and the planned 69-acre Union Pier development. Surrounded by thriving retail, hotels, the courthouse, and numerous popular Charleston attractions, this Class B property boasts a strong location within a high-traffic area. The current lease is a triple net (NNN) agreement with a remaining term of approximately 0.7 years, expiring July 30, 2025, and includes a 4% annual rent bump. The asking price is $1,550,000, representing a price per square foot of $1,427.26 and a 4.07% capitalization rate based on a net operating income (NOI) of $63,060. The property is zoned GB and offers a single tenancy. The lease commenced July 31, 2022, and includes one lease option. This property is ideal for investors seeking a high-return investment in a prime Charleston location with significant redevelopment potential. The tenant has no credit rating.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charleston
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.9271
- Latitude
- 32.7794
