Commercial

King St Development Site

725 King St, Charleston, SC 29403

Listing Price: $600,000

Lot Size
0.07 acres
Price/Acre
$8,571,429
Land Type
Land
Buildable Square Feet
4,900

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in a fully-entitled, shovel-ready development site on King Street in downtown Charleston, South Carolina. The property has a planned mixed-use development of retail, office, and apartment space. Downtown Charleston is a high barriers-to-entry location and opportunities for fully-entitled development sites are a rarity as zoning & planning limitations are strict. Additionally, the subject property is located in the Opportunity Zone of Upper King Street. “Opportunity Zones are a federal program created by Congress in the Tax Cuts and Jobs Act of 2017 to encourage economic development and job creation in low-income urban and rural communities. The program provides federal tax reductions for taxpayers who invest unrealized capital gains into specialized “Opportunity Funds” which then make an investment in designated “Opportunity Zones.” The zones themselves are comprised of low-income community census tracts designated by governors in every state.”

Investment Highlights

  • Fully-entitled, shovel-ready development site in Downtown Charleston
  • Located in the Opportunity Zone
  • Proposed 4,900 SF mixed use development

Exclusively Listed By

Commercial

King St Development Site

Listing Price: $600,000

Lot Size
0.07 acres
Price/Acre
$8,571,429
Land Type
Land
Buildable Square Feet
4,900

Investment Highlights

  • Fully-entitled, shovel-ready development site in Downtown Charleston
  • Located in the Opportunity Zone
  • Proposed 4,900 SF mixed use development

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in a fully-entitled, shovel-ready development site on King Street in downtown Charleston, South Carolina. The property has a planned mixed-use development of retail, office, and apartment space. Downtown Charleston is a high barriers-to-entry location and opportunities for fully-entitled development sites are a rarity as zoning & planning limitations are strict. Additionally, the subject property is located in the Opportunity Zone of Upper King Street. “Opportunity Zones are a federal program created by Congress in the Tax Cuts and Jobs Act of 2017 to encourage economic development and job creation in low-income urban and rural communities. The program provides federal tax reductions for taxpayers who invest unrealized capital gains into specialized “Opportunity Funds” which then make an investment in designated “Opportunity Zones.” The zones themselves are comprised of low-income community census tracts designated by governors in every state.”

Exclusively Listed By

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