Viewing Listing MLS# 30750748 | 117 W Luke Avenue, Summerville SC

Great 1031 exchange opportunity. Wonderfully located historic home first converted into event space, having undergone an extensive renovation in 2016, currently used as office space/private suites having undergone another $150,000 renovation at the end of 2020. Property is just a few hundred feet from Hutchinson Square, which is the commercial center of downtown historic Summerville. Currently single tenant occupied by an established boutique real estate firm with a NNN lease and 3% annual escalations in place through February 28th, 2026. Summerville has been experiencing massive residential and commercial growth and this is projected to continue over the short and long term. There are multiple redevelopment/infill projects underway or in the works in the immediate area of the subject property that will continue to increase commercial engagement and activity in and around the historic area of Summerville. The property is in close proximity to the interstate and well connected to other growth areas around Summerville, making the property desirable for a wide variety of uses and users into the foreseeable future. Property has massive amounts of parking between available street spaces and parking in the rear of the property. Zoned DOWNTOWN MIXED-USE (D-MX), permits a wide range of mixed-use buildings including the full range of housing, retail, offices, and lodging in the downtown area. Link to UDO/zoning in agent notes. Please note that photos were taken before the property received the renovation in 2020 and before the existing tenant took possession.