Just Reduced $100,000

CurrieLifeLeave a Comment

In the heart of downtown Charleston on the Elliotborough/Cannonborough restaurant corner, across from Fuel Cantina, just down from Lana, Hominy Grill and Mia Pomodori sits a rectangular lot ideally situated between MUSC (11,000 employees and 3,000 students) and College of Charleston (6000 students and 3000 employees). Rutledge Avenue has some of the highest visibility in the city, and is the most desirable section of the neighborhood. Perfect development opportunity. This lot is cleared level and wide enough for easy construction staging. Excellent opportunity for redevelopment as commercial or residential (currently zoned for 6 units with a simple zoning change to DR2F this lot could be approved for 8 units!) Do your homework and you will discover this is the best build-able lot on the peninsula. Current use as sixty rented parking spaces currently yields an income of around $2000 per month. Don’t miss your opportunity to capitalize on a neighborhood that is still appreciating in a down market! New home comps range in the $250-$400 price per square foot. Look at the comps from Morris Square and Midtown developments. This neighborhood is also anticipating a much awaited redirecting of traffic on Spring and Cannon to two way as well as a large hotel and condo development with 80,000 square feet of retail space at the King St end of Cannon and Spring. This will have a positive effect on appreciation of values as well as the profile and exposure of the area to new residents.

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