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1033 Wappoo Road

Adams Property Group Acquires Office Building From Granite Canyon Partners For $4M In Charleston SC
SOLDOffice

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:

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

Andrew Margulies

Marcus & Millichap

Broker

$85.9M

vol

15 deals

Broker

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