117 W Luke St

Office: Medical/Dental

117 W Luke St, SummervilleSC 29483

Property Details

Location

Address
117 W Luke St, SummervilleSC 29483
County
Dorchester
Submarket
63 - Summerville/Ridgeville Area
Parcels
137-07-08-006.000
In Opportunity Zone
Yes

Building Size

Building Size
4,600 SF
Rentable Space
4,600 SF

Building Details

Type
 Office: Medical/Dental
Number of Buildings
1
Occupancy Type
Single Tenant
Percent Occupied
100%
Building Class
B
Building Status
Existing
Floors
3
Year Built
1910
Year Renovated
2013
LEED Level
0
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.41 Acres
Land (SF)
17,664 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
Lot Depth
Lot Width

Contacts

Current Listings

NNN Leased Investment for Sale - 4.5 Years Remaining on Lease

4,504 SF$1,200,000
Cap Rate: 5.89%
RE/MAX Pro Realty

Great 1031 exchange opportunity. Wonderfully located historic home first converted into event space, having undergone an extensive renovation in 2016, currently used as office space/private suites having undergone another $150,000 renovation at the end of 2020. Property is just a few hundred feet from Hutchinson Square, which is the commercial center of downtown historic Summerville. Currently single tenant occupied by an established boutique real estate firm with a NNN lease and 3% annual escalations in place through February 28th, 2026. Summerville has been experiencing massive residential and commercial growth and this is projected to continue over the short and long term. There are multiple redevelopment/infill projects underway or in the works in the immediate area of the subject property that will continue to increase commercial engagement and activity in and around the historic area of Summerville. The property is in close proximity to the interstate and well connected to other growth areas around Summerville, making the property desirable for a wide variety of uses and users into the foreseeable future. Property has massive amounts of parking between available street spaces and parking in the rear of the property. Zoned DOWNTOWN MIXED-USE (D-MX), permits a wide range of mixed-use buildings including the full range of housing, retail, offices, and lodging in the downtown area. Link to UDO/zoning in agent notes. Please note that photos were taken before the property received the renovation in 2020 and before the existing tenant took possession.

RE/MAX Pro Realty

Great 1031 exchange opportunity. Wonderfully located historic home first converted into event space, having undergone an extensive renovation in 2016, currently used as office space/private suites having undergone another $150,000 renovation at the end of 2020. Property is just a few hundred feet from Hutchinson Square, which is the commercial center of downtown historic Summerville. Currently single tenant occupied by an established boutique real estate firm with a NNN lease and 3% annual escalations in place through February 28th, 2026. Summerville has been experiencing massive residential and commercial growth and this is projected to continue over the short and long term. There are multiple redevelopment/infill projects underway or in the works in the immediate area of the subject property that will continue to increase commercial engagement and activity in and around the historic area of Summerville. The property is in close proximity to the interstate and well connected to other growth areas around Summerville, making the property desirable for a wide variety of uses and users into the foreseeable future. Property has massive amounts of parking between available street spaces and parking in the rear of the property. Zoned DOWNTOWN MIXED-USE (D-MX), permits a wide range of mixed-use buildings including the full range of housing, retail, offices, and lodging in the downtown area. Link to UDO/zoning in agent notes. Please note that photos were taken before the property received the renovation in 2020 and before the existing tenant took possession.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: SCCMLS

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