Furman Capital Advisors is pleased to offer the opportunity to purchase 100% fee simple interest in the Upper King St Portfolio located at the corner of King Street and Cannon Street in Charleston, SC in one of the country’s most desirable Opportunity Zones. The offering consists of i) an existing +/-16,360 SF income-producing mixed-use development, and ii) a pad ready site with a fully permitted and approved +/-17,652 SF, 21 unit apartment building that could be constructed by Buyer to take full advantage of the tax benefits offered in an Opportunity Zone.
In addition to being located in one of the country’s most desirable Opportunity Zones, the property is perfectly positioned in the heart of Charleston’s newly established Short-Term Rental Overlay Zone AND the Accommodation Overlay Zone, providing the Buyer an extremely rare opportunity to operate commercial short-term rentals in Downtown Charleston.
Perfectly positioned in the heart of downtown Charleston and one of the worlds most progressive and sought after retail and hospitality locations, the Upper King St Portfolio is positioned to be a prominent asset for decades to come.
- Located in one of the country’s most desirable Opportunity Zones
- Located in both the Short-Term Rental Overlay Zone and Accommodation Overlay Zone
- Irreplaceable location at the corner of King and Cannon streets in the nationally recognized Downtown Charleston market
- Ideal mixture of uses creating a true “diversification” play
- Walk Score® of 95 “Walker’s Paradise”
- High barriers to entry—King Street is one of the CBD’s most land-constrained artery
- Abundant parking via adjacent ±459 space City-owned Midtown Garage
- Potential to condo and resell the retail and/or apartment portions of the portfolio