Professional office building located at 7 State Street & next to the Peoples Building. Previously used as professional law offices. Easy walk to courthouse. 2 separately owned parking spaces included with sale. Public street parking and parking garages nearby. Zoned Limited Business and located in the Old and Historic District. Known as the Union Insurance Company building, 7 State Street is a Classical Revival style and one of Charleston's earliest office buildings. The Union Insurance Company had its own fire engine and firefighters and was obligated to fight fires on the premises as certified by the cast iron seals on the building. A version of the seal remains on the front building today. The front facade is detailed with Tuscan-order pilasters and belt coursing. Square footage from appraisal. Buyer should confirm square footage and any other information deemed important. Year built circa 1811-1819 per Historic Charleston Foundation archives. Two large lanterns in first floor & second floor offices do not convey. Showing by appointment only.
| Acres | 5751 |
| Area | Peninsula Charleston Inside of Crosstown |
| City Name | Charleston |
| County | Charleston |
| State | SC |
| Property Type | Office |
| Postal Code | 29401 |
| Date Modified | 2018-07-17T19:45:51 |
| Property Status | Existing |
| Status | Active |
| Title | 7 State Street |
| Zoning | LB |
Listed by: Joe Griffith, Inc. | 843-577-2230
Our investment team does ongoing market research and site analysis to determine the best locations geared towards our investment strategy.
We perform site inspections and consult with general contractors and architects to identify property improvement opportunities and cost estimates.
We do extensive property analysis including underwriting property historical cash flow, three tiered income modeling, future cash flow projections and IRR and cash on cash return profitability models.
Our team underwrites the current tenants and reviews all current lease agreements to determine an appropriate credit grade of the property and identify opportunities for improvement.
