Entitled Corner Project w/ Patio & Parking 99 Cannon St 5,103 SF 100% Leased Retail Building Charleston, SC 29403 $3,450,000 ($676.07/SF)

Positioned at the prominent corner of Cannon and Rutledge, 99 Cannon (circa 1831) offers a rare, entitled, mixed-use opportunity in the heart of Cannonborough-Elliotborough neighborhood, now recognized as Charleston's most concentrated dining district for nationally acclaimed chefs and restaurateurs.
The property has already been entitled for a restaurant (details below) with a large patio and two luxury short-term rental units above. Within just a few blocks, eight restaurants have earned Michelin and/or James Beard recognitions, making this neighborhood an exceptional culinary enclave, unlike any other area in Charleston.
Zoning approvals are in place for a ~2,357/sf restaurant with a ~930/sf outdoor patio, along with two ~1,373/sf luxury short-term rental units on the second and third floors. The project holds BAR conceptual approval for restoration of the original historic corner storefront, a new exterior dining patio, exterior staircase for the STRs, screening to conceal kitchen mechanicals, and upgraded ground-level window and door systems.
The purchase also includes ownership of nine on-site parking spaces (20% of the parking lot), with an additional ~47 onsite pay-to-park spaces available for patrons during evenings, weekends, and holidays. In addition to what is available onsite, there are another ~145 off street pay-to-park spaces located within one block of the property, offering exceptional parking convenience for patrons.
The property is 100% leased through July 2026, providing interim income while final design and permitting are completed.
A recipient of the Carolopolis Award for historic preservation, 99 Cannon blends Charleston's architectural legacy with all the attributes needed to create a successful and unique culinary location. Of note, the original 1831 brick walls on the ground floor may be exposed to showcase the building's historic character.
Contact broker Patrick Price to schedule an onsite tour and/or a virtual meeting. Patrick is also available to do a review of a pricing outline which outlines in detail how the sales price was formulated, backing into an as-is value from being stabilized. Buyer’s profit consideration (development fee), loss of rent during renovation, and other related items were considered when determining the sales price.
Price Ventures, LLC makes no representations or warranties, express or implied, regarding the accuracy or completeness of the information provided.