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2333 Ashley River Rd - Vacant Senior Living Facility | ±55,602 SF 55,584 SF Health Care Building Offered at $6,500,000 in Charleston, SC 29414
Investment Highlights
- Unmet Demand for Independent Living units in the Charleston PMA (10-mile radius) totals 466 units, growing to 875 units in 2030, an 81.3 % increase
- Average Net Worth (10-mile radius): $1,874,357 (Age 55-64), $2,508,833 (Age 65-74), and $2,313,550 (Age 75+)
- CoStar South Carolina Sold Comps: $305.35/SF; subject property at $116.90/SF
- Average Household Income (10-mile radius): $138,404 (Age 55-64), $115,590 (Age 65-74), and $92,775 (Age 75+)
- Average Home Values (10-mile radius): $616,239
- Replacement Cost - 2025 Weitz Replacement Cost (Construction cost only without land, architect fees, FFE, Utility connections, etc.): $289/SF
Executive Summary
AVAILABLE: 95 Unit Assisted Living & Memory Care Facility licensed for 123 beds. The facility is being sold vacant. Perfect conversion for Independent Living.
Charleston: Geography and Population
Charleston stands as South Carolina’s most populous city, strategically positioned along the state’s coastline where the Ashley, Cooper, and Wando rivers converge to form Charleston Harbor. As the county seat of Charleston County, it serves as the central hub for a rapidly growing metropolitan area that houses over 800,000 residents.
Charleston’s Silicon Harbor
A Tech and Academic Hub, Charleston’s transformation into “Silicon Harbor” is driven by a dense ecosystem of over 1,600 tech companies, anchored by global leaders and a burgeoning startup scene. Blackbaud, the world’s leading cloud software provider for social impact, serves as the region’s primary tech anchor with its global headquarters in the city. Other major players include Boeing South Carolina and Volvo, which integrate advanced aerospace and automotive engineering with sophisticated software development. The region also hosts significant operations for Booz Allen Hamilton and many others. This innovation is deeply intertwined with the city’s prestigious higher education institutions: The Citadel and the College of Charleston. These schools act as essential talent pipelines, specifically through joint master’s programs in computer and information sciences.
PROPERTY HIGHLIGHTS
• List Price: $6,500,000.00. Sold vacant as either Assisted Living or Independent Living
• Building Size: ±55,602 SF
• Site Size: ±4 AC
• # of Units: 95
• Zoning: DR-4 (City of Charleston) Use as Independent Living by right | Behavioral/IDD requires Special Use Permit
• CoStar South Carolina Sold Comps: $305.35/SF; subject property at $116.90/SF
• 2025 Weitz Replacement Cost (Construction cost only): $289/SF
• Parcel ID: 3540400006
Bull Realty SC License #: 13327
Charleston: Geography and Population
Charleston stands as South Carolina’s most populous city, strategically positioned along the state’s coastline where the Ashley, Cooper, and Wando rivers converge to form Charleston Harbor. As the county seat of Charleston County, it serves as the central hub for a rapidly growing metropolitan area that houses over 800,000 residents.
Charleston’s Silicon Harbor
A Tech and Academic Hub, Charleston’s transformation into “Silicon Harbor” is driven by a dense ecosystem of over 1,600 tech companies, anchored by global leaders and a burgeoning startup scene. Blackbaud, the world’s leading cloud software provider for social impact, serves as the region’s primary tech anchor with its global headquarters in the city. Other major players include Boeing South Carolina and Volvo, which integrate advanced aerospace and automotive engineering with sophisticated software development. The region also hosts significant operations for Booz Allen Hamilton and many others. This innovation is deeply intertwined with the city’s prestigious higher education institutions: The Citadel and the College of Charleston. These schools act as essential talent pipelines, specifically through joint master’s programs in computer and information sciences.
PROPERTY HIGHLIGHTS
• List Price: $6,500,000.00. Sold vacant as either Assisted Living or Independent Living
• Building Size: ±55,602 SF
• Site Size: ±4 AC
• # of Units: 95
• Zoning: DR-4 (City of Charleston) Use as Independent Living by right | Behavioral/IDD requires Special Use Permit
• CoStar South Carolina Sold Comps: $305.35/SF; subject property at $116.90/SF
• 2025 Weitz Replacement Cost (Construction cost only): $289/SF
• Parcel ID: 3540400006
Bull Realty SC License #: 13327
Property Facts
| Price | $6,500,000 | Lot Size | 4.00 AC |
| Price Per Bed | $52,846 | Building Size | 55,584 SF |
| Sale Type | Owner User | No. Beds | 123 |
| Property Type | Health Care | No. Stories | 1 |
| Property Subtype | Assisted Living | Year Built | 1999 |
| Building Class | C | Tenancy | Single |
| Zoning | DR-4 - Allows for Senior Housing by right | ||
| Price | $6,500,000 |
| Price Per Bed | $52,846 |
| Sale Type | Owner User |
| Property Type | Health Care |
| Property Subtype | Assisted Living |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 55,584 SF |
| No. Beds | 123 |
| No. Stories | 1 |
| Year Built | 1999 |
| Tenancy | Single |
| Zoning | DR-4 - Allows for Senior Housing by right |
Room Mix Information
| Description | No. Beds |
|---|---|
| Senior Housing | 0 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 354-04-00-006 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $636,000 |
Property Taxes
Parcel Number
354-04-00-006
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$636,000
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2333 Ashley River Rd - Vacant Senior Living Facility | ±55,602 SF
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