Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1890
Building Area Net
Number of units 10
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc., a South Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for 364 King St. (“the Property” or “the Center”), a 12,611 square foot mixed-use asset containing 10 multifamily units on top of two ground floor retail tenants: Groucho’s and Five Guys. The 100% occupied property is located along King Street in the heart of Charleston, SC, a fast-growing global destination for not only tourism but also businesses, being considered an attractive destination for millennial talent.

Investment Highlights

  • DOWNTOWN CHARLESTON LOCATION
  • SIGNIFICANT MARKET RENT UPSIDE IN NEAR TERM
    • GROUCHO'S LEASE EXPIRES DEC-22, FIVE GUYS CURRENT TERM EXPIRES OCT-24*
    • RENOVATION OPPORTUNITY OF 10 MULTI-FAMILY UNITS TO OBTAIN $400-$700 RENT SPREAD PREMIUMS
  • DOUBLE-DIGIT POPULATION GROWTH
  • POTENTIAL FOR REDEVELOPMENT / RECONFIGURATION OF THE RETAIL AND MULTIFAMILY TO ENHANCE LAYOUT AND ADD SQUARE FOOTAGE

*One (1) more Five (5) Year option available

Last Updated Date: 08 Apr 2022

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Last Updated Date: 08 Apr 2022

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