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1001 Morrison Dr Charleston, SC 29403-3849

OFF-MARKET Commercial real estate Google Maps
11,282 SF 0.9 ac lot Built 1991
Entity Owned 4-yr Hold ~ Est. High Equity
Estimated value (blended)
$740k
Range $666k – $814k (±10%)
Property ID US77-1382812

Property summary

AI-generated overview

This exceptional 0.2-acre paved and striped parking lot presents a unique investment opportunity in Charleston, South Carolina. Located at the highly visible intersection of Isabella Street and Morrison Drive, this single-tenant property enjoys a prime location next to Rug Masters and is conveniently situated off the Arthur Ravenel Jr. Bridge. Its strategic position between established businesses like Rug Masters and Haute Design, Inc., ensures high visibility and accessibility. The property's proximity to popular destinations such as The Morris and Half Mile North further enhances its appeal and potential for strong rental income. The lot is already paved and striped, minimizing upfront capital expenditures and allowing for immediate revenue generation. This makes it an ideal investment for those seeking a low-maintenance, high-return property in a thriving Charleston location. The property is zoned for parking and is ready for immediate use. The address is 1001 Morrison Drive, Charleston, SC 29403, in Charleston County. This is a single-tenant property, offering simplicity and ease of management. The property's location offers excellent visibility and accessibility, making it an attractive option for businesses and individuals alike. This is a rare opportunity to acquire a well-located, income-producing parking lot in a rapidly growing area of Charleston.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1991
Total area 11,282 SF
Lot 0.9 ac (39,204 SF)
APN 461-13-01-025
UPID US77-1382812

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Carpet Cleaning Service Rug Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.57M
Blend (final) Blend
$740k

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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