Investment Opportunity - 100% Leased Retail in the Promenade - Historic Downtown Bluffton

5-9 Promenade Street, Units 1201 - 1304 Bluffton, SC 29910

FOR SALE
Property Type:
Street Retail
Amount:
$1,275,000
Last Verified:
Jan 23, 2020

Highlights

  • Located in the Promenade in Downtown Historic Bluffton
  • Very High Demand - Short Supply Segment of the Market
  • Newer Buildings
  • Leases in place

Description

Don't miss this opportunity to own income producing condominiums in the Promenade, the most desired address in the market.

This opportunity is comprised of four ground floor condominiums with existing leases. Two are occupied via a new five year NNN lease with Calhouns, a very popular tavern with a lovely outside dedicated patio area. One of the units is leased to J McLaughlin, the national clothing retailer and the other by a very successful salon that has been in place for several years. Current NOI is $66,788.50.

Situated on the main street in the Promenade in historic downtown Bluffton. The Promenade, which anchors the downtown area, is a bustling, pedestrian friendly mixed use development with a myriad of shopping, dining and entertainment options, coupled with residential units upstairs. Downtown Bluffton has undergone a tremendous redevelopment with new pedestrian friendly streetscapes surrounding the development. This is a high traffic area that benefits from the weekly farmer's market and regular festivals in the immediate vicinity. Easy access to anywhere in the community, including Savannah which is less than 30 minutes away.


Year Built: 2007
Building Size: 3036.0sq ft
Lot Size: 0.0 acres

Map of 5-9 Promenade Street, Units 1201 - 1304, Bluffton, SC, 29910

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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