Multifamily redevelopment project in the Opportunity Zone. This portfolio of 4 detached buildings is in the Heart of North Charleston, near the old Navy Base. Trifecta of tax incentives, in addition to the Opportunity Zone, it is eligible for the SC Abandoned Buildings Revitalization tax credit and may also be eligible for the Historic Rehabilitation tax credit.Initially constructed during World War I and rebuilt in World War II, St. Peter's by the Sea church served the Navy Base community for most of a century.This complex includes four buildings on approx .77 acres near the intersection of Spruill and Reynolds Avenue: the main brick church building, approx 3,300 sq.ft., that is dry but needs work. A 4,000 sq.ft. brick rectangular building that needs a new roof and new interior; could also add a second story to this building. A 1,500 sq.ft. remodeled residential structure that was once a church offices, and a 1,500 sq.ft. ready-to-renovate residential structure that is cleaned out down to the studs (could be removed to increase parking).The centrally located complex is only 8 minutes from downtown and 6 minutes from West Ashley, This property is zoned B1 by the City of North Charleston.
Listing Date: 04-12-2021
Sold Date: 01-13-2022
Aprox Days on Market: 
9 month(s), 0 day(s)
Listing Sold: 
2 Year(s), 3 month(s), 11 day(s) ago
Original Asking Price: $880,000
Asking Price: $815,000
Selling Price: $800,000
Price Difference From Original:
Reduced By $80,000
Price Difference From Asking:
Reduced By $15,000
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Year Built: 1937
Rent Control: No
Pool Private: No
Garage: No
Attached Garage: No
Fireplace: No
Lot Size: 0.77
Lot Size Units: Acres
Acres: 0.77
Lot Sqft: 33541.2
Irrigation Water Rights: Yes
Mobile Home Remains: Yes
Property Type: B
New Construction: No
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Other
Beds: 3
Sold Date: 2022-01-13T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Unit Sqft: 1,500
Unit Sqft: 4,000
Unit Sqft: 1,500
Unit Sqft: 3,300
Sqft: 10300
Unit Bedrooms: 3
Heating: No
Cooling: No
Waterfront: No
Courtesy of listing office Marshall Walker Real Estate