184 Bay StCharleston, SC 29401

Property Details for 184 Bay St

Property size (Sq ft)

1,086 SF

Property type

Retail properties

Property subtype

Other retail properties

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.

Location Insight

City

Charleston

County

Charleston

State

South Carolina

Latitude

32.7794

Longitude

-79.9271

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