For Sale | A Solid-Performing Mixed Use Property

605 West 5th North Street, Summerville, SC

$1,425,000

Price

8.84%

Cap Rate

$125,931

NOI

Overview
Cap Rate
8.84%
NOI
$125,931
Lot Area
1.01 acres
Price Per Sqft
$190
Zoning
PUD
Description

Choice Realty, Inc. is pleased to offer for sale a solid-performing Mixed Use property located in Summerville, SC. This property is located in the heart of Summerville with easy access to Interstate 26, just 30 minutes from Charleston, SC. Occupied by strong credit commercial tenants and annual residential tenants within five buildings, built between 2012 and 2018.

Consisting of two commercial buildings and three residential rentals on just over 1 acre, this property is zoned as a Planned Development District (PUD), characterized by a unified site design for a mixed use development. This zoning fits well within The Town of Summerville’s Unified Development Ordinance (UDO) to designate this Highway 78 corridor as a Mixed-Use District, designed to create walkable, mixed-use environments. Commercial lease terms are staggered with varying annual increases up to 4% with renewal options through 2024.

Steady rental income and its in-town location contribute to this property’s long term investment value.

Documents
Title
Investment Flyer
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Location
Gallery