10 Westridge St - 10 WestEdge 52,606 SF Retail Condo Unit Offered at $25,000,000 in Charleston, SC 29403
INVESTMENT HIGHLIGHTS
- A+ Charleston Medical District location, newer construction.
- Enjoy 3 years of high cash flow with 2.85% IO loan!
PROPERTY FACTS
| Price | $25,000,000 |
| Unit Size | 52,606 SF |
| No. Units | 1 |
| Total Building Size | 373,850 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Sale Type | Investment |
| Building Class | A |
| Floors | 11 |
| Typical Floor Size | 33,986 SF |
| Year Built | 2019 |
| Lot Size | 2.31 AC |
| Parking Ratio | 2.78/1,000 SF |
| Zoning | MU-2/WH |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Pantry
SITE AMENITIES
- Controlled Access
- Fitness Center
- Pool
- Grill
- Bicycle Storage
- Elevator
- Pet Washing Station
1 UNIT AVAILABLE
Unit Publix
| Unit Size | 52,606 SF |
| Price | $25,000,000 |
| Price Per SF | $475.23 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.00% |
| NOI | $1,250,000 |
SALE NOTES
Premium A+ real estate in Charleston Medical Center District! Prime long term NNN solid gold credit of Publix corporate. 16+ years remaining on initial term. Assumable 2.85% financing! 6%+ Cash on Cash return, years 1-3 while on IO. Income increases in subsequent terms. Built-in Publix customer base with 350 apartment units in same building above the store. This 350 unit Apartment Building is owned by an Investment Company, purchased for $134M in 2021.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 30 | - | 521 - 569 |
| 1+1 | 226 | - | 627 - 932 |
| 2+2 | 94 | - | 952 - 1,527 |
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (80)
