North Charleston, SC 29405,1020 Aragon AVE
North Charleston, SC 29405,1020 Aragon AVE
North Charleston, SC 29405,1020 Aragon AVE
North Charleston, SC 29405,1020 Aragon AVE
North Charleston, SC 29405,1020 Aragon AVE
North Charleston, SC 29405,1020 Aragon AVE
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$3,600,000

$3,999,950

10.0%
Est.Price: ?

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Est. payment /mo

94,960 SqFt


SOLD DATE : 05/21/2020

Key Details

Sold Price $3,600,000

Property Type Commercial

Sub Type Industrial

Listing Status Sold

Purchase Type For Sale

Square Footage 94,960 sqft

Price per Sqft $37

MLS Listing ID 30484802

Sold Date 05/21/20

Year Built 1970

Lot Size 2.180 Acres

Acres 2.18

Property Description

A fully occupied investment property with four years remaining on the initial term of a lease. Leased to Morsco Supply, a subsidiary of Reece, an Australian Company. Morsco was recently purchased for $1.44 Billion in cash by Reece. Morsco has a lease until August 31, 2023. The lease has 3% annual escalations. Morsco Supply purchased the former occupant and now the owners have decided to sell this property. The property is a 51,484 square foot property consisting of offices, showroom, conference room and warehouse space. The property has 2.18 acres and is located in the Spruill Avenue section of North Charleston very close to Park Circle. The tenant has two, five year options that also include 3% escalations. This is a solid opportunity for a 1031 exchange and a long term hold even for adaptive reuse potential options in the future.

Location

State SC

County Charleston

Zoning City of North Charleston - M-1 - Light Industrial District

Exterior

Parking Features Structure

Garage Spaces 10.0

Building

Sewer Public Sewer

Water Public

Others

Acceptable Financing Cash

Listing Terms Cash

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Listed by David Seay • The Brokerage, LLC
Bought with LeGrand Elebash • Handsome Properties, Inc.

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+1(800) 919-2427

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