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Adams Property Group Acquires Office Building From Granite Canyon Partners For $4M In Charleston SC
SOLD
$4,000,000
+ 1
South Carolina
See Similar DealsOffice23,460 SF
Sold 04/17/2025
SOLD
Adams Property Group Acquires Office Building From Granite Canyon Partners For $4M In Charleston SC
1033 Wappoo Road
See Similar DealsOffice23,460 SF
Sold 04/17/2025
+ 1
Summary
SOUTH CAROLINA
Asset Type:Office
Price Per Square Foot:$170
Total Square Footage:23,460 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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