North Charleston, SC 29405
- $77.69Price per SqFt
- 51,484SqFt
- 454Days on Market
- N/AZoning
- 1970Year Built
- IndustrialUse
- MLS# 30484802
- Commercial Sales
- Industrial
- Sold
- Approx Time on MarketN/A
- AreaNorth Charleston Inside I-526
- CountyCharleston
- SubdivisionN/A
Overview
A fully occupied investment property with four years remaining on the initial term of a lease. Leased to Morsco Supply, a subsidiary of Reece, an Australian Company. Morsco was recently purchased for $1.44 Billion in cash by Reece. Morsco has a lease until August 31, 2023. The lease has 3% annual escalations. Morsco Supply purchased the former occupant and now the owners have decided to sell this property. The property is a 51,484 square foot property consisting of offices, showroom, conference room and warehouse space. The property has 2.18 acres and is located in the Spruill Avenue section of North Charleston very close to Park Circle. The tenant has two, five year options that also include 3% escalations. This is a solid opportunity for a 1031 exchange and a long term hold even for adaptive reuse potential options in the future.
Sale Info
Listing Date: 01-30-2023
Sold Date: 05-21-2020
Listing Sold:
3 Year(s), 11 month(s), 7 day(s) ago
Asking Price: $3,999,950
Selling Price: $3,999,950
Price Difference:
Same as list price
Building Info
Anchored: No
Year Built: 1970
Financial
Asking Price Type: Fixed Price
Garage / Parking
Parking Type: Structure
Lot Info
County: Charleston
Lot Acres Min: 2.180
Land Size: 2.18
Misc
Title: Investment Property - Credit A Fully Occupied
Offer Compensation
Property Info
Ceiling Height Maximum: 25.00
Second Property Subtype: Industrial
Zoning: City of North Charleston - M-
Nearest Msa: Charleston-North Charleston, SC
Sale Terms: Cash
Property Type: A
Original Price: $3,999,950
Build To Suit: No
Ceiling Height Minimum: 15.00
Property Use Type: Business Park, Distribution, Flex Space, Hospitality, Industrial, Investment, Multi-Family, Office, Other, Retail, Truck Terminal, Warehouse
Class Type: Industrial
Sold Info
Sold Date: 2020-05-21T00:00:00
Sqft Info
Rentable Area: 51484
Unit Info
Utilities / Hvac
Water Source: Public
Sewer: Public Sewer
Courtesy of listing office The Brokerage, LLC
MLS# 31000112 
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