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1559 Folly Rd, Charleston
Andrew Batkins and Elliot Calhoun with Paramount Commercial are pleased to present the exclusive listing for The Charthouse on James Island - a 48-unit apartment complex in Charleston, SC. The Charthouse provides an opportunity to purchase a newly constructed, Class-A, core asset, with significant value-add that is easily achievable. The subject property has the lowest rents of the comp set with average rents of $1.45 per SF compared to $1.63 per SF of the comparable properties. More specifically, the closest 3 comparables have rents of $1.77, $1.86, and $2.04 per SF. Rent growth in the James Island submarket is also predicted to outpace the other Charleston submarkets due to the recent Folly Road Overlay District that was put in place restricting future construction on the island. The Charthouse on James Island is a 10-minute drive from Charleston’s historic King Street and a quick 5-minute drive to Folly Beach, one of the best beaches on the east coast. The immediate surrounding area is also experiencing significant commercial development with a Publix grocery store opening this year and many other restaurants and retailers having opened in the past few years.
- MLS® #30500549
- TypeCommercial Sale
- Listing OfficeParamount Commercial
- Address1559 Folly Rd
- AreaJames Island
- Zip Code29412
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