82 Church St, Charleston, SC 29401

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Barnett B.

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Building Details:

• Year Built: 1782

82 Church St is aspecial purpose property for lease in Charleston, SC.

Unique opportunity for a possible live/work building on the corner of Tradd and Church Street South of Broad in downtown Charleston or a fully rented investment property! Lots of updates since the owner obtained the property. There is a newer membrane roof with a 20 year warranty and new wooden shutters. Total renovation of the second floor with granite and stainless appliances and new bathroom. First floor tenant put new wood in the first floor. First floor is used for commercial use (office space) and second two floors for residential use. Income coming from all three floors.

DIRECTIONS: South of Broad in Downtown Charleston. At the corner of Tradd and Church Streets.

FINANCING: Seller will consider cash or conventional financing.

TENANT INFO: 3 LEASES. 1ST FLOOR GETS $1650 A MONTH NOW ACCORDING TO THE OWNER THE FIRST FLOOR HAS AN OPTION TO RENEW AT $1750 A MONTH 11/15/15.; BASED ON WHAT OWNER LET ME KNOW 2ND FLOOR IS $2450/MONTH AND WILL END 7/31/2015 AND THEN RENT WILL BE $2550 MONTH ONCE RENEWED; 3RD FLOOR IS RENTED FOR $1900 A MONTH. 3RD FLOOR PAYS ALL ELECTRICAL EXPENSE. SECOND FLOOR PAYS 2/3 OF ELECTRIC; 1ST FLOOR PAYS ALL ELECTRIC OVER $100. OWNER PAYS WATER. ***AS FAR AS THE CAP RATE ABOVE IT DEPENDS ON HOW YOU ARE CALCULATING BUT CAP RATE IS CLOSER TO 3% BUT WILL LIKELY BE LESS THAN 3% ONCE TAXES ADJUST FOR NEW OWNER.

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