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220 King Street, Charleston, SC 29401

$8,500,000
Property Type: Commercial Sale Square Footage: 10,032 Status: Active
Current Price: $8,500,000 List Date: 6/27/2023 Last Modified: 8/26/2024

Description

This landmark three-story building is a coveted downtown trophy asset located at the corner of King and Market Street which is in the epicenter of the Charleston Historic Business District in the middle of one of the country's top ten shopping districts. Retail on the first and second floors with executive office suites and a residential penthouse apartment on the third floor. Property has two tenants, Christian Michi and Lampshade Library, in place. There is a City of Charleston managed surface parking lot in the rear of the building, a parking deck across the street on King and another one on Market Street. Perfect for a buyer user or an investor with an anchor tenant. The Christian Michi retailer will only stay for a short time after closing via a sale leaseback. This property is directly across from the Charleston Place Hotel and one block from the Historic Charleston City Market. South Carolina's first Four Seasons will be located behind the building facing Meeting Street. A premier location that is walking distance to an abundance of shops, restaurants, hotels, entertainment services, and historic landmarks. The building was built in 1835 by Charleston's notable hardware merchant, Nathan Hart, reflecting the high quality of construction in the antebellum period. The red brick facade is beak jointed with fine white mortar and the second story windows have granite lentils. Floor plans and custom flyer are available from the listing agent. Gross internal square footage is 10,032. Rentable square footage is 9,073. The address of 141 and 145 Market Street are included in this TMS # and consequential purchase. Property is zoned General Commercial and inside the short term accommodations overlay district. Please do not disturb the tenants in place. Call agent for all showings.

More Information MLS# 31000784

Location

Street Number: 220 Street Name: King Street Suffix: Street County: Charleston Nearest MSA: Charleston-North Charleston, SC Submarket/Township: 51 - Peninsula Charleston Inside of Crosstown State or Province: SC Postal Code: 29401 Parcel Number: 457-08-02-025

General Information

Status: Active Property Sub Type: Retail Secondary Sub-Type: Office Tertiary Sub-Type: Hospitality Listing Name: Iconic Building on the Corner of King and Market Street Is Condo?: No Property Condition: Existing Building Area Total: 10032 Lot Acres: 0.09 Zoning: City of Charleston - GB - General Business Property Visibility: Excellent Anchored?: No List Price/Acre: 94444444.44 List Price/SqFt: 847.29 For Comp Purposes Only: No

Contract Information

Listing Contract Date: 2023-04-03 List Price: $8,500,000 Original List Price: 9200000 Tax Legal Description: 220 King And Market Current Price: $8,500,000

Building Related

Tenancy: Multiple Tenants General Condition: Good Stories Total: 3 Year Built: 1835 Number Of Buildings: 1

Land Related

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

Financials

Tax Assessed Value: 200030

Status Change Info

Status Change Date: 2024-05-28

Auction Details

Auction: No

Area and Location

Property Located Between: King & Market St. on the immediate left hand side

Property Features

Property Sub Type: Hospitality; Office; Retail Current Use: Clothing/Fashion; Investment; Residential; Retail Structure Type: Free Standing Retail Clientele: General; Tourist
Listing Office: Beach Commercial, TBC
Last Updated: August - 26 - 2024
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