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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
23749100
23749101

2185 Ashley Phosphate Rd, North Charleston, SC 29406

$5,250,000
1333 days on market
Updated 153 days ago

Ashley Office Park

Details
Property Type Office
Sub Type Executive Office, Medical Office (+1)
Square Footage 32,260
Net Rentable (SqFt) 32,260
Units 20
Cap Rate 7.69%
NOI $403,932
Occupancy 100%
Tenancy Multi
Brand/Tenant Law Firm, Medical
Lease Type NNN
Rent Bumps Yes
Pro-Forma Cap Rate 11.71%
Pro-Forma NOI $614,962
Price per SqFt $163
Broker Co-Op No
Class B
Year Built 1979
Year Renovated 2022
Buildings 6
Stories 2
Acreage 3.000
Zoning GC
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Ownership Fee Simple

Investment Sale | 6 Building Office Park | Located in Charleston, SC Major Corridor

Marketing description

Ashley Office Park is a (6) six-building office park located off Ashley Phosphate Road, in between the two major corridors of the peninsula, I 26 and Rivers Avenue. The property features great visibility (+60,000 VPD), ample free parking, and multiple access points on the 3-acre site. Ownership recently completed major renovations and modernizations to the park. Exterior renovations included new brick/foundational work, roof updates, landscaping, monument and suite signage, additional security, and modern design features. Current tenancy mix is essential service and medical users with a long track record at the park. The subject property’s location features major national brands within short distance of the site providing multiple food, retail, and hospitality service providers to the tenancy.

Investment highlights

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$403,932.00
$33,661.00/mo

Valuation Metrics

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DSCR
7.69%
Cap Rate
7.69%
ROI

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