154 King Street is a three story 4,008 SF historic building comprised of retail and office space. The first floor is 1,206 SF and currently occupied by a retailer, Julep. Tenant will remain in place for duration of their lease providing cash flow to future Buyer. The second and third floors are each 1,401 SF and currently used as office space for two law firms. The law firms will vacate upon sale. The second and third floors were formerly used as residential and could be easily converted back as the space offers high ceilings, hardwood floors, full kitchen, full bathroom and a half bathroom. This property is part of the 154 King Street Horizontal Property Regime. The sale includes TMS# 457-08-04-154 (first floor) and TMS# 457-08-04-155 (second and third floor). The free standing kitchen house to the rear of the main building does not convey with the sale of this property (TMS# 457-08-04-156). Directions: From Calhoun Street, go south on King Street. Building is located on your left just before Queen Street.
| Area | Peninsula Charleston Inside of Crosstown |
| City Name | Charleston |
| County | Charleston |
| State | SC |
| Property Type | Office |
| Postal Code | 29401 |
| Date Modified | 2018-10-18T19:37:01 |
| Property Status | Existing |
| Status | Active |
| Title | 154 King Street |
| Zoning | GB |
Listed by: Lee & Associates - Charleston | 843-747-1200
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.
