1020 Aragon Ave

    North Charleston, SC 29405
    • $3,999,950
    • STATUS: Active Under Contract
    • ON SITE: 16 days
    • ID#: 30484802
    Under Contract
    UPDATED: 81 min ago
    $3,999,950
    • 0
      BEDS
    • 2.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 51,484
      SQFT
    • $78
      $/SQFT

    School Ratings & Info

    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.

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    www.thecassinagroup.com/homes/99664032

    1020 Aragon Ave North Charleston, SC 29405

    • Price: $3,999,950
    • Status: Active Under Contract
    • Updated: 81 min ago
    • ID#: 30484802
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.18
    Acres
    51,484
    SQFT
    $78
    $/SQFT
    Neighborhood:
    N. Charleston - Inside Mark Clark
    County:
    Charleston
    Area:
    N. Charleston - Inside Mark Clark
    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.
    Exterior Features

    Land Size Min 2.180 Land Size Units Acre

    Interior Features

    Ceiling Height Min 15.0

    Property Features

    Loading Docks 3 Property Status Existing Property Sub Type Flex SpaceFree-StandingIndustrial-Business ParkLight IndustrialNet LeasedOffice ShowroomTruck TerminalWarehouse/DistributionOther Property Type Industrial Sale Price Min 3999950.00 Title Investment Property - Credit A Fully Occupied Zoning Other

    Listing courtesy of Seay Development, Llc.
     
    The Cassina Group, LLC
    309 Coleman Boulevard
    Mount Pleasant SC, 29464