345 King StCharleston, SC 29401

Property Details for 345 King St

Year built

1883

Lot size

0.05 AC

Property size (Sq ft)

3,892 SF

Property type

Commercial real estate

APN

457-04-02-035

APU

4570402035

Description

This exceptional Class A, 3,355 square foot shopping center presents a compelling investment opportunity. Located at 345 King Street in Charleston, South Carolina (29401), this two-story, single-tenant property boasts a 100% occupancy rate with a modified gross lease in place until July 31, 2026, featuring annual escalations. The tenant, Kenny Flowers, an upscale tropical clothing and lifestyle brand, utilizes the ground floor as retail/showroom space and the second floor as an event space complete with a bar and patio. Built in 1900 and extensively renovated in 2023, the property sits on a General Business zoned lot (APN 457-04-02-035) in the heart of Charleston's vibrant retail district, surrounded by luxury retailers, hotels, and acclaimed restaurants. This stabilized investment offers a below-market lease rate with a strong tenant, creating a highly desirable, low-risk opportunity for long-term growth or a 1031 exchange. The asking price is $3,400,000.

• CAP approach

  CAP return

  Valuation

  6%

  $398,644

  6.5%

  $367,979

  7%

  $341,695

• Comparable approach

  Method

  Valuation

  Relative Method

  $499,834

  Geo Method

  $659,071

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,599,870

  Retail / Commercial

  $649,033

  Mixed-Use / Specialty

  $511,676

  Hospitality / Lodging

  $199,579

  Office

  $367,979

  Institutional / Educational

  $483,672

  Residential Income

  $565,896

  Multifamily

  $1,427,360

  Automotive / Energy

  $414,576

  Parking / Income-Based Land

  $276,486

  Restaurant / Food Service

  $-22,082.10

  Healthcare / Senior Housing

  $663,198

Location Insight

City

Charleston

County

Charleston

State

South Carolina

Latitude

32.7847

Longitude

-79.9358

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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