High-end residential development opportunity in Historic Downtown Charleston.1&3 Cordes Street is an exceptional redevelopment opportunity in Historic Downtown Charleston. The property is located on the corner of Prioleau and Cordes Streets and is nestled among former warehouse buildings dated back to the 1790's. It sits just steps from the iconic Riley Waterfront Park, the Charleston City Gallery and the soon to be completed 225-room Cooper Waterfront Hotel. Consisting of 8,700 square feet, the property is zoned Limited Business. 1/3 Cordes has served as the offices for Palmetto Shipping and Stevedoring Company, a variety of local businesses, and most recently Maybank Properties, LLC. The site has access to 19 parking spaces in the adjacent parking garage, available at market rates. Possible uses include a continued office use or a residential redevelopment.
| City Name | Charleston |
| County | Charleston |
| State | SC |
| Property Type | Office |
| Postal Code | 29401 |
| Square Feet | 8700 SF |
| Status | Active |
| Parcel Number | 458-09-02-006 |
| Title | Condo & Commercial Development Site |
| Year Build | 1978 |
| Zoning | City of Charleston - LB - Limited Business |
Our investment team does ongoing market research and site analysis to determine the best locations geared towards our investment strategy.
We perform site inspections and consult with general contractors and architects to identify property improvement opportunities and cost estimates.
We do extensive property analysis including underwriting property historical cash flow, three tiered income modeling, future cash flow projections and IRR and cash on cash return profitability models.
Our team underwrites the current tenants and reviews all current lease agreements to determine an appropriate credit grade of the property and identify opportunities for improvement.
