$475,000 | N/A beds | N/A full baths | N/A half baths | 3,000 sqft

$475,000
321 Cypress Gardens Road
Moncks Corner, SC 29461
  • $158.33Price per SqFt
  • 3,000SqFt
  • 451Days on Market
  • N/AZoning
  • 1991Year Built
  • IndustrialUse
  • MLS# 30035525
  • Commercial Sales
  • Industrial
  • Sold

  • Approx Time on MarketN/A
  • AreaGoose Creek / Moncks Corner - Hwy17a- Hwy52
  • CountyBerkeley
  • SubdivisionN/A

Overview

This is a chance to get in just before the property value skyrockets. The property is 1.72 acres, zoned General Commercial in Berkeley County, and embedded in an area of high growth in between Hwy 17A and 52. It is currently a mixed use property with 1800 SF of garage/warehouse and 1200 SF of office/apartment. The warehouse has 2 garage doors, 3 phase power, and 1 hydraulic car lift. The other 1200 SF is comprised of 2 levels which are 600 SF each. The first level is an office and the second level is an apartment occupied by the current tenant. The current tenant's lease expires on December 31st, 2018. It has city water and sewer, and natural gas. This property offers potential for many uses for both and investor and owner user with General Commercial zoning.The economics of Cypress Gardens Road is changing dramatically. Along Hwy 52 and Hwy 17A there are multiple large parcels which are either being developed or plan to be developed. The developments will bring in residences as well as commercial space. Cypress Gardens Road connects these 2 prominent corridors. Currently, the layout of the property is setup for a smaller flex space or auto/boat repair or storage as there is ample yard space on the unused land. The easy access from 26 and planned widening of Cypress Gardens Rd. would be favorable for small scale warehouse/distribution. There is also enough space on the unimproved portion of the property to allow for further development. If your client is an investor or developer, they will have several options, depending on the amount of capital they are willing to put into it. The seller currently pays for insurance and taxes, which can be changed into pass throughs at the termination of this lease, to make a true NNN. The cap rate right now is at 3.85%, without maintenance expenses. With a NNN lease at current market rates it could be much more appetizing. This strategy is the most hands off and would be fruitful for a long-term hold. An investor could also improve the current building and/or build on the remaining land to maximize the lease revenue with the current use or accommodate other uses. The General Commercial zoning allows for multi-family, retail, office.


Sale Info

Listing Date: 01-30-2023

Sold Date: 02-22-2019

Listing Sold: 
   5 Year(s), 2 month(s), 4 day(s) ago

Asking Price: $475,000

Selling Price: $475,000

Price Difference: 
Same as list price

Building Info

Anchored:  No

Year Built:  1991

Financial

Asking Price Type:  Fixed Price

Garage / Parking

Lot Info

County:  Berkeley

Land Size:  0.00

Misc

Title:  Flex space between Summerville and Moncks Corner

Offer Compensation

Property Info

Second Property Subtype:  Industrial

Zoning:  Berkeley - GC - General Comme

Nearest Msa:  Charleston-North Charleston, SC

Sale Terms:  Cash

Property Type:  A

Original Price:  $475,000

Build To Suit:  No

Ceiling Height Minimum:  18.00

Property Use Type:  Distribution, Flex Space, Hospitality, Industrial, Mixed Use, Multi-Family, Other, Retail, Vacant, Warehouse

Class Type:  Industrial

Sold Info

Sold Date:  2019-02-22T00:00:00

Sqft Info

Rentable Area:  3000

Unit Info

Utilities / Hvac

Water Source:  Public

Sewer:  Public Sewer

Courtesy of listing office Carolina One Real Estate 

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On natwallen.com since Mon, Jan 30th 2023
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 EXP Realty LLC 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 04-25-2024 11:55 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 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 04-25-2024 11:55 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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Hey there, thanks for reaching out!
Are schools important to you?
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