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200 Spring Street, Charleston, SC 29403

$1
Property Type: Commercial Sale Square Footage: 1 Status: Active
Current Price: $1 List Date: 3/18/2024 Last Modified: 8/26/2024

Description

200-210 SPRING ST is a combined and rare large vacant parcel located in Downtown Charleston. While capable for almost any commercial use, the parcel is fully entitled for 152 hotel units, 6 story height on 2/3rds of the land, 5 stories on the remainder. Project has been placed in the Accommodations Overlay Zone, and approved for ultra-flexible hotel use, which is far more advantageous than STR (Short Term Rental). Owner has achieved an advanced Conceptual Approval from Charleston's Board of Architectural Review which tacks on as a vested right. Currently, the interior design consists of 143 very spacious high end luxury apartment flats in a European style that are all self sufficient as dwellings. While interior unit counts are capped at 152, custom adjustments can be made to suit the programming preferences of the operator. It would likely take 2 or 3 years to replicate the entitlements/vested rights, engineering, and design that has been done if an alternative property of this kind was even available. This development boasts unlimited potential for almost any use with MU2 Workforce zoning plus ''Approved Hotel Use'', allowing residents to enjoy hotel amenities 24/7, pool, outdoor bar area, also including a fitness center and business center. Structured internal parking comlies with all zoning regulations. Thanks to the flexible zoning, accommodations can range from nightly, weekly, to monthly stays. Located along Spring Street in the Medical District, it caters to tourists, ''medical travelers'' coming in for weekly or monthly stays, professionals; including doctors and post doctoral scholars, and any visitor wishing to stay in a larger, extraordinarily appointed apartment flat. One block to Publix grocery store in West Edge, surrounded by retail outlets, just minutes by foot to marina, the Ashley River, and City park. Additionally, it's a short walk to Upper King Street, known for its restaurants and nightlife.

More Information MLS# 31003029

Location

Street Number: 200 Street Name: Spring Street Suffix: Street County: Charleston Nearest MSA: Charleston-North Charleston, SC Submarket/Township: 52 - Peninsula Charleston Outside of Crosstown State or Province: SC Postal Code: 29403 Parcel Number: 4601101013 Opportunity Zone: No

General Information

Status: Active Property Sub Type: Hospitality Secondary Sub-Type: Multi Family Listing Name: 200-210 Spring Street Property Condition: New Construction Build to Suit?: No Rooms Total: 152 Building Area Total: 0.94 Lot Acres: 0.94 Zoning: City of Charleston - MU-2/WH - Mixed-Use Workforce Housing Property Visibility: Excellent List Price/Acre: 1.06 List Price/SqFt: 1.06

Contract Information

Listing Contract Date: 2024-03-18 List Price: $1 Original List Price: 1 Tax Legal Description: Lot A 200-210 Spring Street located on the crosstown of Charleston, SC directly across from MUSC. Current Price: $1

Building Related

General Condition: Excellent Stories Total: 6 Parking Total: 103 Number Of Buildings: 1

Land Related

Part of Planned Development?: No In Flood Plain?: No

Financials

Tax Assessed Value: 175490

Status Change Info

Status Change Date: 2024-03-18

Auction Details

Auction: No

Business Details

Franchise: No

Property Features

Property Sub Type: Hospitality; Multi Family Current Use: Commercial; Hospitality; Investment Structure Type: Mid-Rise; Mixed Use; Multi Family Road Frontage Type: City Street Water Source: Public Sewer: Public Sewer
Listing Office: Woodlock Brokerage LLC
Last Updated: August - 26 - 2024
Properties marked with IDX logo are provided courtesy of South Carolina Commercial Multiple Listing Service, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Carolina Commercial Multiple Listing Service. Real estate listings held by brokerage firms other than the website owner are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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