Highland Ventures Acquires Office Property In Charleston, SC For $16.75M
174 Meeting Street, Charleston, South Carolina 29401, United States
$16,750,000
$356,383/SF
Building Size
47 SF
Asset Type
Office
Closing
Nov 21, 2022
AI
A 47,113 square foot office property located at 174 Meeting Street in Charleston, SC has been sold for $16,750,000. The sale price per square foot was $356, indicating a strong market value for the asset. The transaction took place on November 21, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,750,000
- Address: 174 Meeting Street
- Market: Charleston, SC
- Buyer: Highland Ventures
- Seller: Cobalt Property Group
- Brokers: Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody & Ryan Carmody - CBRE
- Square Footage: 47,113
- Price per Square Foot: $356
The deal was facilitated by CBRE, with brokers Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody, and Ryan Carmody representing the parties involved. The transaction showcases the strong demand and value of office properties in the Charleston, SC market.
Players
Charleston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93