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%.
- Property Type
Retail
- Year Built
2010Renovated 2017
- Total Building Size
330RSF
- Zoning
OTHER
- Property ID
2190719
