MLS# 30324484 | 1027 Folly Road Charleston SC | subdivision
843-225-7007
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Charleston, SC 29412
- $331.22Price per SqFt
- 7,397SqFt
- 450Days on Market
- N/AZoning
- 2006Year Built
- Shopping CenterUse
- MLS# 30324484
- Commercial Sales
- Shopping Center
- Sold
- Approx Time on MarketN/A
- AreaJames Island
- CountyCharleston
- SubdivisionN/A
Overview
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: 01-30-2023
Sold Date: 11-21-2018
Listing Sold:
5 Year(s), 5 month(s), 3 day(s) ago
Asking Price: $2,450,000
Selling Price: $2,450,000
Price Difference:
Same as list price
Building Info
Anchored: No
Year Built: 2006
Financial
Asking Price Type: Fixed Price
Garage / Parking
Parking Type: Surface
Lot Info
County: Charleston
Land Size: 0.00
Misc
Title: Sumters Landing Shopping Center - 1027 Folly Road
Offer Compensation
Property Info
Second Property Subtype: Shopping Center
Zoning: Community Commercial
Nearest Msa: Charleston-North Charleston, SC
Sale Terms: Cash
Property Type: A
Original Price: $2,450,000
Build To Suit: No
Property Use Type: Industrial, Investment, Office, Retail, Strip Center
Class Type: Shopping Center
Sold Info
Sold Date: 2018-11-21T00:00:00
Sqft Info
Rentable Area: 7397
Unit Info
Utilities / Hvac
Courtesy of listing office Commercial Real Estate Ventures, LLC
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 04-24-2024 2:30 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.
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