Adams Property Group Acquires Office Building From Granite Canyon Partners For $4M In Charleston SC
1033 Wappoo Road
$4,000,000
$170/SF
Building Size
23,460 SF
Asset Type
Office
Closing
Apr 17, 2025
AI
The property involved in this transaction is an office asset located at 1033 Wappoo Road, Charleston, SC. The sale price for the property was $4,000,000, and it comprises a total area of 23,460 square feet, resulting in a price per square foot of $171.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,000,000
- Address: 1033 Wappoo Road
- Market: Charleston, SC
- Square Footage: 23,460
- Price per Square Foot: $171
- Buyer: Adams Property Group
- Seller: Granite Canyon Partners
- Brokers: Alex Buckman, Andrew Margulies, Harrison Creason & John Berger - Marcus & Millichap
This sale marks the closure of a notable transaction facilitated by the brokerage firm Marcus & Millichap, involving the buyer, Adams Property Group, and the seller, Granite Canyon Partners, highlighting the collaborative efforts of the listed brokers in achieving this deal.
Players
Charleston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93