Viewing Listing MLS# 30721601 | 1401 Shrimp Boat Lane UNIT #206, Mount Pleasant SC

$249,000 | N/A beds | N/A full baths | N/A half baths | 330 sqft

$249,000
1401 Shrimp Boat Lane UNIT #206
Mount Pleasant, SC 29464
  • $754.55Price per SqFt
  • 330SqFt
  • 423Days on Market
  • N/AZoning
  • 2010Year Built
  • HospitalityUse
  • MLS# 30721601
  • Commercial Sales
  • Hospitality
  • Sold

  • Approx Time on MarketN/A
  • AreaMt. Pleasant South of Iop Connector
  • CountyCharleston
  • SubdivisionN/A

Overview

Condo hotel ownership in Shem Creek Inn. This investment offering is a rare opportunity to buy into the only hotel on Shem Creek. Condo units are individually owned, with limited owner use options. The Inn is under hotel management agreement & HOA regime. Beautiful 3rd floor, Creek Side 2 Queen condo with fantastic view of Shem Creek. Unit amenities include: Free WiFi, microwave oven, refrigerator, coffee maker, LCD TV with satellite channels, & private furnished balcony.Property amenities include: Beautiful pool & sundeck right on Shem Creek, free parking & breakfast in a great location convenient to beaches & downtown Charleston, elevator, daily housekeeping, & 24-hour front desk with Concierge services.Shem Creek Inn was newly renovated in 2017. There is a 5 year $5,819 annual owner special assessment ending in 2022 to pay for the renovation. The 2019 cap rate is 6.52% at the current offering price. Without the special assessment, the cap rate would have been 8.9%.


Sale Info

Listing Date: 01-30-2023

Sold Date: 06-21-2021

Listing Sold: 
   2 Year(s), 9 month(s), 8 day(s) ago

Asking Price: $249,000

Selling Price: $249,000

Price Difference: 
Same as list price

Building Info

Anchored:  No

Year Built:  2010

Financial

Asking Price Type:  Fixed Price

Garage / Parking

Lot Info

County:  Charleston

Land Size:  0.00

Misc

Title:  Shem Creek Inn

Offer Compensation

Property Info

Second Property Subtype:  Hospitality

Nearest Msa:  Charleston-North Charleston, SC

Sale Terms:  Cash

Property Type:  A

Original Price:  $249,000

Build To Suit:  No

Property Use Type:  Hospitality, Industrial, Investment, Multi-Family, Other, Retail, Vacation/Resort

Class Type:  Hospitality

Sold Info

Sold Date:  2021-06-21T00:00:00

Sqft Info

Rentable Area:  330

Unit Info

Unit:  206

Utilities / Hvac

Courtesy of listing office Coldwell Banker Comm/Atlantic Int'l  - 8437449877

Featured Lender

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Jim Hutto

Beacon Bank

843-990-5517
jim@beacon.bank
https://www.beacon.bank/connect/our-team/commercial-bankers

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On simplycommercial.com since Mon, Jan 30th 2023
No Property History recorded for this listing.

Residential, Land, Other Disclaimer:

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 03-29-2024 6:11 AM EST . The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 03-29-2024 6:11 AM EST est.

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8437449877