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

  • $249,000
    No Recent Price Change
  • 1401 Shrimp Boat Ln 206
    Mount Pleasant, SC 29464
N/APrice per SqFt
12Days on Market
N/AYear Built
517-11-00-050Tax ID
  • MLS# 30721601
  • Commercial Sales
  • Hospitality
  • Active

AreaMt. Pleasant South of Iop Connector

Agent Remarks

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%.

Building Info

Year Built Date:  2,010

Visibility:  Excellent


Sale Terms:  Cash to Seller

Sale Price Max Total:  $249,000

Sale Price Min Total:  $249,000

Lot Info

Acres:  0.00


Use Type:  Investment

Zoning:  OTHER

Property Info

Msa:  Charleston-North Charleston

Title:  Shem Creek Inn

County:  Charleston

Property Subtype:  Vacation Rental(s), Other

Sale / Lease Info

Sqft Info

Size Rentable Sf:  330

Tax Info

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

Mortgage Calculator

Dollars per $1000
Approximate Monthly Payment 0.0
On since Tue, Apr 6th 2021
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 04-18-2021 10:04 PM 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 2021 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2021 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 04-18-2021 10:04 PM EST est.

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