Jun
21

Charleston Self Storage Property Sold

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1719 signalElliot Calhoun, broker with NAI Avant’s Charleston office, recently facilitated the investment sale of a ±18,035 square foot self-storage facility located at 1719 Signal Point Road in Charleston, SC. Calhoun represented the seller, KALEV, LLC, in the transaction valued at $920,000. The purchaser, Un Altro Elefante, LLC, was represented by Mario Inglese with Petigru Properties, Inc.

According to Loopnet:

120 unit self-storage facility on Signal Point Road, in rapidly growing Folly Road corridor. Currently 75% filled with no marketing and listed at 9% CAP. Manager in place and included in annual NOI of $79,000, but can be replaced. Rents are currently below market and offer additional upside. Improvements include: new roof on main structure, significant landscaping work, new fence/gate, conversion of some inside office space to climate controlled units, and renovation of some distressed units.

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    Categories : Charleston

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