Viewing Listing MLS# 30730038

$2,065,041 | N/A beds | N/A full baths | N/A half baths | 4,500 sqft

$2,065,041
200 Rutledge Avenue
Charleston, SC 29403
  • $458.90Price per SqFt
  • 4,500SqFt
  • 678Days on Market
  • N/AZoning
  • 1978Year Built
  • OfficeUse
  • MLS# 30730038
  • Commercial Sales
  • Office
  • Sold

  • Approx Time on MarketN/A
  • AreaHistoric Charleston
  • CountyCharleston
  • Subdivision N/A

Overview

200 Rutlege Avenue combines the stability of an investment-grade tenant with proven upside income derived from short term rental units. The property is operating at a NOI of $126,000 after short term rental management fees. The first floor is leased to Walgreens for a Specialty Compounding Pharmacy. Walgreens is 2.5 years into a 10-year corporate lease.The second floor contains two, 2-bed/2-bath, residential units renovated for Short Term Rentals in 2019. The short term rentals are managed by Stay Duvet and the first guests were welcomed in early November 2019. The seller now has 18 months of operating history and a demonstrated increase in room rates and occupancy.The building has rights to nine (9) parking spaces within a shared lot and is located within the City of Charleston Accommodations Overlay District allowing for the operation of AirBnB and VRBO units. The local neighborhood--Elliottborough /Cannonborough--is one of Charleston's most dynamic districts and is a top AirBnB reservation location.



Sale Info

Listing Date: 01-30-2023

Sold Date: 12-06-2021

Listing Sold: 
   3 Year(s), 3 day(s) ago

Asking Price: $2,065,041

Selling Price: $2,065,041

Price Difference: 
Same as list price

Building Info

Anchored:  No

Year Built:  1978

Financial

Asking Price Type:  Fixed Price

Garage / Parking

Parking Type:  Surface

Lot Info

County:  Charleston

Land Size:  0.00

Misc

Title:  Walgreens + AirBnB Investment Property

Offer Compensation

Property Info

Second Property Subtype:  Office

Zoning:  City of Charleston - LB - Lim

Nearest Msa:  Charleston-North Charleston, SC

Sale Terms:  Cash

Property Type:  A

Original Price:  $2,065,041

Build To Suit:  No

Property Use Type:  Industrial, Investment, Medical/Dental, Mixed Use, Multi-Family, Office, Retail

Class Type:  Office

Sold Info

Sold Date:  2021-12-06T00:00:00

Sqft Info

Rentable Area:  4500

Unit Info

Utilities / Hvac

Courtesy of listing office Cityvolve Commercial Realty LLC 

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On constantproperties.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 Constant Properties 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 12-08-2024 11:53 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 12-08-2024 11:53 PM EST est.

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