70 Queen St, Unit: 1-12#15-17

Land
Pending

70 Queen St, CharlestonSC 29401

Property Details

Location

Address
70 Queen St, CharlestonSC 29401
County
Charleston
Submarket
51 - Peninsula Chas. inside of crosstown
Parcels
4570804192

Building Size

Building Size

Building Details

Type
 Land  
 Pending
Number of Buildings
Occupancy Type
Single Tenant
Percent Occupied
Building Class
Building Status
Existing
Floors
Year Built
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.07 Acres
Land (SF)
3,049 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
GB
Lot Depth
Lot Width

Contacts

Current Listings

70 Queen Street - 15 parking spaces

3,000 SF$1,875,000

This listing is for fifteen spaces that are located in a twenty seven space lot. The spaces have been generating excellent income and is managed by HAH. These spaces are the first twelve on the west side of the lot, closest to Queen. Space 11 is not owned by the seller, but the owner is in the process of swapping his space to a different one to allow a contiguous group. The remaining three spaces are on the east side of the lot closest to the Gibbes Museum. Currently the spaces that are rented short term are managed by HAH parking app. Regime is expected to be about $60 per year per space ($40 for insurance, $20 for reserves for eventual repaving).The only other expense will be property taxes as the gross income noted as already seen the management fee taken out. Seller began having non payers towed in the middle of May 2021 and has seen a drastic increase in income. It went from a $14 per day per space average in daily income to $30 to $40 per space per day in daily income. On average, the spaces have been generating in the neighborhood of $1,000 per month per space, which is after the management fee has been applied.

This listing is for fifteen spaces that are located in a twenty seven space lot. The spaces have been generating excellent income and is managed by HAH. These spaces are the first twelve on the west side of the lot, closest to Queen. Space 11 is not owned by the seller, but the owner is in the process of swapping his space to a different one to allow a contiguous group. The remaining three spaces are on the east side of the lot closest to the Gibbes Museum. Currently the spaces that are rented short term are managed by HAH parking app. Regime is expected to be about $60 per year per space ($40 for insurance, $20 for reserves for eventual repaving).The only other expense will be property taxes as the gross income noted as already seen the management fee taken out. Seller began having non payers towed in the middle of May 2021 and has seen a drastic increase in income. It went from a $14 per day per space average in daily income to $30 to $40 per space per day in daily income. On average, the spaces have been generating in the neighborhood of $1,000 per month per space, which is after the management fee has been applied.

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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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