MLS# 30324484 | 1027 Folly Rd Charleston SC | subdivision

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Sold
  • $2,450,000
    No Recent Price Change
  • 1027 Folly Rd
    Charleston, SC 29412
$331.22Price per SqFt
7,397SqFt
115Days on Market
N/AZoning
N/AYear Built
Shopping CenterUse
337-04-00-128Tax ID
  • MLS# 30324484
  • Commercial Sales
  • Shopping Center
  • Sold

AreaJames Island
CountyCharleston

Agent Remarks

Sumters Landing is an attractive, well maintained, and 100% occupied retail center located on Folly Road the major commercial thoroughfare of James Island in the Charleston, SC MSA. Adjacent to BB&T Bank Branch (built 2008) Sumters Landing is 100% leased to five tenants. All tenants have five year triple net terms and 3% annual rent escalation except Advance America (expires 6/30/21). A well located, hard to replicate, triple net leased investment opportunity with a solid history of occupancy. Single owner since it was developed in 2006. $161,451 in NOI is for 2019 (first full year of ownership). See Current Tenants section for rate and term breakdown of each lease. Commercial Real Estate Ventures, LLC does not make any representation or warranty as to the accuracy or completeness of the Informational Materials for this offering and further that the provided information used in the preparation of the Informational Materials herein that has been furnished to Commercial Real Estate Ventures, LLC by others has not been independently verified by Commercial Real Estate Ventures, LLC and is therefore not guaranteed as to completeness or accuracy. Any Potential Purchaser and/or Buyer's Broker(s) agrees that Commercial Real Estate Ventures, LLC shall not have any liability for any reason to the Buyer's Broker(s) or the Potential Purchaser or any Related Parties resulting from the use of the Informational Materials.


Sale Info

Listing Date: 01-15-2021

Sold Date: 11-21-2018

Listing Sold: 
   2 Year(s), 5 month(s), 19 day(s) ago

Asking Price: $2,450,000

Selling Price: $2,450,000

Price Difference: 
Same as list price

Building Info

Year Built Date:  2,006

Visibility:  Excellent

Financial

Sale Terms:  Cash to Seller

Sale Price Max Total:  $2,450,000

Sale Price Min Total:  $2,450,000

Lot Info

Acres:  0.00

Misc

Use Type:  Net Leased Investment (NNN), Investment

Zoning:  CC

Property Info

Msa:  Charleston-North Charleston

Title:  Sumters Landing Shopping Center - 1027 Folly Road

County:  Charleston

Property Subtype:  Net Leased, Strip Center

Sale / Lease Info

Sold Date:  2018-11-21T00:00:00

Sqft Info

Sqft:  7,397

Size Rentable Sf:  7,397

Tax Info

Taxing Authority:  Charleston County

Courtesy of listing office Commercial Real Estate Ventures, LLC 

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On marshallwalker.com since Fri, Jan 15th 2021
No Property History recorded for this listing.
Residential, Land, Other Disclaimer:

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Marshall Walker Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 05-10-2021 2:06 PM EST . The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2021 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2021 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 05-10-2021 2:06 PM EST est.

Any images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.


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