Opportunity Zone - RE-Development NoMo District

1671 Meeting Street Road Charleston, SC 29405

FOR SALE
Property Type:
Commercial Land Development
Amount:
$800,000
Last Verified:
Dec 21, 2020

Highlights

  • Redevelopment opportunity
  • In Opportunity Zone
  • Booming tech industry is driving development along Meeting Street Road corridor
  • Adjacent to I-26
  • Located in "Brewery District" with nearly a dozen local breweries

Description

SVN is pleased to offer a 0.17 +/- acre redevelopment, Opportunity Zone site with a 1919 sf building. This property is located in the highly sought-after "Neck" area of the Charleston peninsula. Just above "NoMo" the North Morrison Drive corridor. It is situated on Meeting Street Road, running parallel to King Street and Interstate 26. This location provides a unique RE-Development opportunity with great access to all of the Tri-County, due to its close proximity to Interstate 26, Interstate 526, Rivers Avenue, Highway 17 North & South and the Ravenel Bridge. Allowing easy transport to Historic Downtown Charleston, West Ashley, North Charleston, Summerville, Goose Creek, Daniel Island, Mount Pleasant and the Islands. Adjacent properties are under redevelopment including Multi-family, Retail, Office, Storage, Hospitality and the new Leatherman Shipping Terminal.

Located in the heart of the growing Upper Meeting Street development district, this property, consisting of 0.17 +/- acres with a 1,919 SF +/- metal structure. Charleston's growing tech economy is increasingly calling this portion of Meeting Street Road - known as The Neck - home. The immediate area is home to numerous breweries, tech incubator spaces, and restaurants. Less than two miles away, several new, multifamily and hospitality projects are in the final stages of completion, and several miles to the north, the Park Circle district is also growing with new housing and retail. The site is adjacent to I-26, and three (3) miles from the downtown medical district (Roper Hospital and MUSC).

Building Size: 1919sq ft
Building Class: C
Lot Size: 0.17 acres

Map of 1671 Meeting Street Road, Charleston, SC, 29405

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What are Real Estate Incentives?

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."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.