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Long Point Center LLC Sells Office Building In Mount Pleasant For $4.5M With Avison Young
SOLD
South Carolina
See Similar DealsOffice30,000 SF
Sold 06/09/2025
SOLD
Long Point Center LLC Sells Office Building In Mount Pleasant For $4.5M With Avison Young
501 Wando Park Boulevard
See Similar DealsOffice30,000 SF
Sold 06/09/2025
Summary
SOUTH CAROLINA
Asset Type:Office
Price Per Square Foot:$150
Total Square Footage:30,000 SF
Transaction Type:Sale
An office asset located at 501 Wando Park Boulevard in Mount Pleasant, SC, was sold for $4,500,000. The property comprises 30,000 square feet, resulting in a price per square foot of $150.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,500,000
- Square Footage: 30,000
- Price per Square Foot: $150
- Seller: Long Point Center LLC
- Buyer's Representative: Jim Haley, Jeff Baxter & Anne Lawless - Cityvolve Commercial Realty
- Seller's Representatives: Chris Fraser & Leslie Fellabom - Avison Young
Avison Young facilitated the transaction, arranging the sale to a group of shareholders representing the engineering firm SeamonWhiteside, which will occupy 20,000 square feet as its headquarters.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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