1981 Riviera DrMount Pleasant, SC 29464

Property Details for 1981 Riviera Dr

Year built

1996

Lot size

4.71 AC

Property size (Sq ft)

46,202 SF

Property type

Retail space

APN

561-00-00-134

APU

5610000134

Description

This exceptional 45,660-square-foot retail space presents a unique investment opportunity in the thriving Mount Pleasant, South Carolina market. Located at 1981 Riviera Drive, this single-story, 1996-built building is currently occupied by Harris Teeter and will become available approximately six months after lease execution. The property boasts high ceilings, offering versatile options for various commercial uses beyond grocery. Situated within The Shoppes at Seaside Farms, a dynamic lifestyle center, this location benefits from high visibility and strong foot traffic. The center is anchored by a Target and features over 40 unique shops, including restaurants and spas, catering to a high-income demographic in affluent surrounding neighborhoods. The property's General Business (GB) zoning allows for a wide range of commercial activities. The APN is 561-00-00-134. This prime location offers easy access to Charleston, Isle of Palms, and Sullivan's Island, ensuring significant exposure to a large customer base. The building's substantial size and strategic placement within a successful shopping center make it an ideal location for a variety of businesses seeking a prominent presence in a rapidly growing area. The property's convenient location and existing infrastructure provide a seamless transition for new tenants. This is a rare opportunity to acquire a large, well-located retail space in a highly desirable market.

• CAP approach

  CAP return

  Valuation

  6%

  $6,138,083

  6.5%

  $5,665,923

  7%

  $5,261,214

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,952,518

  Geo Method

  $19,716,094

• Alternative Use

  Use

  Valuation

  Residential

  $4,779,418

  Hospitality

  $4,377,921

  Educational

  $3,642,379

  Medical

  $3,767,646

  Retail

  $5,665,923

Location Insight

City

Mount Pleasant

County

Charleston

State

South Carolina

Latitude

32.8209

Longitude

-79.8157

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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