A landmark corner of Charleston's French Quarter neighborhood within the original walled city, 27 State Street is an excellent investment opportunity. The c. 1814 residential building with first floor commercial space includes stables and kitchen house. The three buildings are now connected around a piazza and a central courtyard with Philip Simmons gates. Currently operated as a Bed and Breakfast, the use also includes an art gallery, a wonderful owner''s apartment above the gallery, and additional apartments for longer term rentals. The combination of rich patina, handsome architectural lines, and the arched and louvered piazza is authentic Charleston. Classified a Category 2 Building in Charleston''s Architectural Survey, 27 State is rated ''''Excellent...well designed and proportioned'''' and "of irreplaceable importance." Simple, straightforward elegance of the Adam brothers'' style made interesting with the West Indies influence. Floor Plans, Net Operating Income, Photographic Survey by Apartment are available. Owner financing offered.
Area | Peninsula Charleston Inside of Crosstown |
City Name | Charleston |
County | Charleston |
State | SC |
Property Type | Office |
Postal Code | 29401 |
Date Modified | 2018-02-04T01:23:06 |
Property Status | Existing |
Status | Active |
Title | 27 State Street |
Listed by: Carriage Properties LLC | 843-266-8000
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.