Address
321 Cypress Gardens Rd Moncks Corner, SC
Price
$ 475,000
Property Attributes
  • MLS#30035525
  • TypeCommercial
  • CountyBERKELEY
  • CityMoncks Corner
  • AreaGoose Cr.-Moncks-Hwy 17
  • Zip29461
  • Style
  • Price$ 475,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
Carolina One Real Estate
Property Description

This is a chance to get in just before the property value skyrockets. The property is 1.72 acres, zoned General Commercial in Berkeley County, and embedded in an area of high growth in between Hwy 17A and 52. It is currently a mixed use property with 1800 SF of garage/warehouse and 1600 SF of office/apartment. The warehouse has 2 garage doors, 3 phase power, and 1 hydraulic car lift. The other 1600 SF is comprised of 2 levels which are 800 SF each. The first level is an office and the second level is an apartment occupied by the current tenant. The current tenant’s lease expires on December 31st, 2018. It has city water and sewer, and natural gas. This property offers potential for many uses for both and investor and owner user with General Commercial zoning. The economics of Cypress Gardens Road is changing dramatically. Along Hwy 52 and Hwy 17A there are multiple large parcels which are either being developed or plan to be developed. The developments will bring in residences as well as commercial space. Cypress Gardens Road connects these 2 prominent corridors. Currently, the layout of the property is setup for a smaller flex space or auto/boat repair or storage as there is ample yard space on the unused land. The easy access from 26 and planned widening of Cypress Gardens Rd. would be favorable for small scale warehouse/distribution. There is also enough space on the unimproved portion of the property to allow for further development. If your client is an investor or developer, they will have several options, depending on the amount of capital they are willing to put into it. The seller currently pays for insurance and taxes, which can be changed into pass throughs at the termination of this lease, to make a true NNN. The cap rate right now is at 3.3% and with a NNN lease it would be 5.7% at the current lease rate. This strategy is the most hands off and would be fruitful for a long-term hold. An investor could also improve the current building and/or build on the remaining land to maximize the lease revenue with the current use or accommodate other uses. The General Commercial zoning allows for multi-family, retail, office.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
1/14/2018 Listed $475,000

General Features

Property Sub Type Flex Space, Mixed Use, Light Industrial, Warehouse/Distribution, Other
Property Type Industrial
Submarket 73 - G.Creek/M.Corner Hwy.17a to Hwy.52
Zoning GC

Interior Features

Ceilingheight Min 18.0

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 29461

Price
AVG $1.72M
$480K
Visits
AVG 81
3
Walkscore
AVG 26
7

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